September 30, 2019 / 2:07 PM / 19 days ago

Mexico's president urges central bank to focus on growth too

MEXICO CITY, Sept 30 (Reuters) - Mexican President Andres Manuel Lopez Obrador on Monday urged the country’s central bank to focus on economic growth as well as inflation, and applauded the bank’s decision to cut interest rates last week.

“With all due respect, I’d like the Bank of Mexico in addition to controlling inflation to concern itself with economic growth. That’s why I’m very glad that interest rates have been cut, it was a very good decision,” Lopez Obrador said at his daily press briefing.

For the second time in a row, Mexico’s central bank cut its key interest rate by 25 basis points to 7.75% on Thursday, as it cited slowing inflation, widening slack in the economy, and expectations for a slight economic recovery. (Reporting by Anthony Esposito Editing by Dave Graham)

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