Mexico cuts interest rate as Iran war fuels inflation concerns

Mexico cuts interest rate as Iran war fuels inflation concerns Mexico’s central bank has lowered its benchmark interest rate following a split vote, as uncertainty surrounding the US-Israeli war on Iran continues to unsettle global markets. Minutes from the Bank of Mexico’s May meeting showed the decision passed by a 3-2 vote, with policymakers warning the conflict is increasing inflation risks. All five board members identified the war as a source of upward pressure on prices, though most said the direct effect on Mexico remains limited.