Bank of Mexico lowers interest rate to 7.25%, cites concerns

MEXICO CITY — Mexico’s central bank lowered its benchmark interest rate by a quarter-point from 7.5% to 7.25%. on Thursday, citing a sluggish global economy and continued weakness for the country’s own outlook.

The Bank of Mexico said in a statement that Mexico has seen recent positive activity, such as a stronger peso, in part as a result of the agreement on the USMCA trade pact poised to replace the North American Free Trade Agreement with the United States and Canada.

But it said uncertainty remains about things such as debt ratings for the country and state oil company Pemex.

“While the information available for the fourth quarter of 2019 is limited, it is estimated that the weakness (Mexican) economic activity has been recording for several quarters will persist,” the bank said in a statement.

“In an environment of marked uncertainty,” it continued, “the balance of risks for growth continues slanting downward.”

The first three quarters under Mexican President Andrés Manuel López Obrador, who took office in December 2018, were marked by GDP growth around zero.

You may also like these

The Latest: Australia stands by Afghanistan after...

Jun 1, 2017

Australia's prime minister has told Parliament that he telephoned Afghan President Ashraf Ghani "to...

Authorities: Several demonstrators killed in...

Jun 2, 2017

Authorities say several killed during demonstration in Kabul calling for better security in Afghan...

Third time's charm on visas for Afghan girls...

Jul 13, 2017

Third time's the charm for war-torn Afghanistan's all girls team who have been applying for U.S....

UN reports rise in Afghan war deaths, blames...

Jul 17, 2017

A U.N. report says Afghanistan's protracted war killed a record number of civilians during the...

Taliban suicide bomber targets Kabul bank, kills...

Aug 29, 2017

Taliban claim responsibility for suicide bombing in central Kabul near banks, US Embassy, that...

About Us

The Journalist Report publishes timely news updates around the clock. We have a group of journalists around the globe to deliver the latest news around so that we can get our users connected.

Contact us: sales[at]thejournalistreport.com

Subscribe Now!