Mexico's finance minister to ask banks to lower interest rates, president says

ReutersApr 14, 2025 3:04 PM

MEXICO CITY, April 14 (Reuters) - Mexican President Claudia Sheinbaum said on Monday that she had instructed Finance Minister Edgar Amador to speak with banks so they can lower interest rates for both commercial and development loans.

Sheinbaum said that banks should follow the country's central bank, known as Banxico, in cutting rates.

In late March, Banxico cut its benchmark interest rate to 9%, highlighting progress on inflation, but warning of heightened uncertainty relating to trade tensions and a weakening economy.

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