STORY: Mexico's central bank cuts interest rate for 1st time in 3 years
SHOOTING TIME: Archives
DATELINE: March 22, 2024
LENGTH: 00:01:15
LOCATION: Mexico City
CATEGORY: ECONOMY

SHOTLIST:
1. aerial view of Mexico City
2. various of the banks in Mexico
3. various of banknotes

STORYLINE:

The Central Bank of Mexico (Banxico) on Thursday reduced its benchmark interest rate for the first time in three years.

The benchmark interest rate was reduced by 0.25 percentage points to 11.0 percent, the central bank said in a statement.

Banxico said it made the decision due to a disinflationary process in the country, despite the presence of upside risks.

According to the most recent official data, headline inflation in Mexico was 4.40 percent year-on-year through February.

The reduction came a year after Banxico's five-member board raised the benchmark rate to 11.25 percent.

Xinhua News Agency correspondents reporting from Mexico City.
(XHTV)