August 16, 2019 / 12:36 PM / a month ago

Interest rate cut will stimulate Mexican economy - president

MEXICO CITY, Aug 16 (Reuters) - Mexican President Andres Manuel Lopez Obrador said on Friday that while Mexico faced a difficult economic environment, this week’s interest rate cut would stimulate Latin America’s second-largest economy.

The central bank cut its key lending rate on Thursday for the first time since June 2014, citing slow inflation and increasing slack in the economy, a decision that fueled expectations that further monetary easing could be on the way.

Reporting by Stefanie Eschenbacher Editing by Chizu Nomiyama

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