LatinNews Daily - 20 December 2019

* Mexico’s central bank (Banxico)’s five-member board has opted to cut interest rates by 25 basis points to 7.25%, the fourth cut in interest rates this year. The decision was not unanimous; one board member wanted it cut to 7.0%. As well as economic slowdown, Banxico’s report cited reduced headline inflation which closed at 2.97% in November, just below Banxico’s target of 3% although core inflation was higher at 3.65%. The report also highlighted concerns that the recent increase in the minimum wage could drive up inflation.

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