Bank of Mexico Cuts Interest Rates as Economy Struggles – The Wall Street Journal

MEXICO CITY—The Bank of Mexico lowered interest rates Thursday for the first time in more than five years in a split vote, citing slowing economic growth, lower inflation and a decline in debt yields in Mexico and abroad.

The central bank said a majority of board members voted to cut the overnight interest-rate target by a quarter of a percentage point to 8%, while one member voted to keep the rate at 8.25%.