The Financial Times reported from Mexico City yesterday that Banxico, the central bank, cut its key lending rate for at the third consecutive rate-setting meeting; trimmed another 25 basis points so that the rate now stands at 7.5 per cent. They also downgraded their view on economic growth for this and next year, saying ‘’the third quarter of 2019 shows that stagnant economic activity has maintained as observed for several quarters’’. More unusually they noted that the country should ‘’improve the rule of law, abate corruption and combat insecurity’’.
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