LatinNews Regional Monitor: Mexico - 27 September 2019

* Mexico’s central bank (Banxico) has voted to cut its benchmark interest rate by 25 basis points to 7.75%. In a press release, Banxico cites “slowing inflation”, with the annual rate coming in at 3.78% in July and 2.99% in the first half of September, “widening slack in the economy”, and the “recent behaviour of external and domestic yield curves” among other factors that drove the decision. Banxico also notes that the board was not unanimous on its decision. The latest figures from the national statistics institute (Inegi) for its indicator of global economic activity (Igae), a measure of GDP growth, show that it contracted -0.1% in July 2019 compared with the previous month and -0.6% compared with July 2018.

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