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LatinNews Daily - 16 August 2019

In brief: Mexico’s central bank cuts benchmark interest rate

* Mexico’s central bank (Banxico) has reduced its benchmark interest rate to 8% from 8.25%. In a press release Banxico cites as factors a deteriorating “balance of risks for global economic activity” and the recent cut in interest rates by the US Federal Reserve and other central banks. Banxico also notes that inflation is maintained at “reduced levels”, with the annual rate coming in at 3.78% in July and 3.95% in June. This is the first time in over five years that Banxico has cut its benchmark interest rate.