According to Jinshi Data, the Central Bank of Mexico cut its benchmark interest rate by 25 basis points to 10.00% on Thursday. Mexico is the second largest economy in Latin America. The five members of the Central Bank's Governing Council unanimously agreed to the decision.
The move came after Mexico's overall inflation slowed slightly more than expected last month. The central bank said in its statement that given the progress made in slowing inflation, it may consider a deeper rate cut at future meetings, but will maintain a restrictive stance.