Yesterday Banxico, as Mexico’s central bank is known, cut its key interest rate by 25 basis points for a fourth consecutive time, the Financial Times reports; it now stands at 7.25 per cent, well above that of Latin America’s biggest economy, Brazil, which was cut to a new record low of 4.5 per cent on the 12th of this month. Yesterday Sweden’s Riksbank raised it key rate from negative to zero. In contrast, today the Peoples Bank of China kept its key rate unchanged at 4.15 per cent.
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