Mexico expected to cut interest rates

Mexico’s central bank will likely cut its benchmark lending rate for the third meeting in succession this week given that inflation is in check and the economy is stagnating, a Reuters poll showed on Monday.

Ten out of 14 bank and brokerage analysts surveyed expect the Bank of Mexico to lower the rate by 25 basis points to 7.5 percent, while the other four forecast a cut of 50 basis points, Reuters reports.