Mexico's president commends cut to key interest rate

• Mexico's central bank lowered its benchmark interest rate for a fifth straight meeting on Thursday, with a 25 basis point cut to 7.0pc.

MEXICO CITY: 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 7.0pc, citing a stagnating economy and in spite of inflation rising slightly above the bank's target.