Banxico Cuts Overnight Rate To 6.25% (exp 6.50%, prev 6.50%)

Mexico's central bank cut its key interest rate by 25 basis points to 6.25% on Thursday, in a surprise to markets which had expected the rate to remain unchanged.The five—member board of Banxico, as the Mexican central bank is known, was split in its decision.

Banxico Cuts Overnight Rate To 6.25% (exp 6.50%, prev 6.50%)