February 14, 2020 / 2:25 PM / 10 days ago

Mexico's president commends cut to key interest rate

MEXICO CITY, Feb 14 (Reuters) - Mexico’s President Andres Manuel Lopez Obrador said on Friday that he was pleased with the central bank’s decision to lower the benchmark interest rate, adding he expected the cut would help boost economic growth.

Mexico’s central bank lowered its benchmark interest rate for a fifth straight meeting on Thursday, with a 25 basis point cut to 7.0%, citing a stagnating economy and in spite of inflation rising slightly above the bank’s target. (Reporting by Daina Beth Solomon Editing by Chizu Nomiyama)

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