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Story summary
- Bank of Mexico (Banxico) cut its benchmark rate from 7.00% to 6.75%, with three of five board members supporting the decision.
- Inflation rose to 4.63% in March.
- Banxico expects inflation to converge to 3% by Q2 2027.
- Analysts were surprised by the rate cut amid inflationary pressures and geopolitical risks.
- Banxico will monitor the impact of fiscal measures and external factors on inflation.
