Mexico Cuts Interest Rate For First Time In Three Years

An employee checks banknotes at a Bank of Mexico printing facility in El Salto, Jalisco state (Credit: AFP)

Mexico's central bank on Thursday reduced its benchmark interest rate for the first time in three years following a slowing of inflation in Latin America's second-largest economy.

The Bank of Mexico also gave an upbeat outlook for the economy, which it said was "expected to show greater dynamism" after a sluggish end to last year.