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LatinNews Daily - 15 November 2019

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

* Mexico’s central bank (Banxico) has voted to cut its benchmark interest rate by 25 basis points to 7.50%, highlighting that the domestic economic growth outlook had likely worsened in recent months. This is the third slashing of the benchmark interest rate by Banxico this year. The latest figures from Mexico's national statistics institute (Inegi) for its indicator of monthly global economic activity (Igae) show that it contracted by 0.4% in August 2019 compared with the same month in 2018. Mexico’s stock exchange (BMV) reacted positively to Banxico’s move, rising by 0.21% on 14 November following the announcement.