Mexico Policy Makers Say Slower Inflation Becoming a Trend

Mexican policy makers said slower inflation appears to be gaining traction while risks to growth persist, according to the minutes of their last meeting, fueling speculation they’ll cut borrowing costs this year.

The bank’s board members were unanimous in their decision to leave the benchmark rate at a record-low 4.5 percent for a 32nd straight meeting on Jan. 18, the minutes published today show. Banco de Mexico, led by Governor Agustin Carstens, is the only central bank in the Group of 20 to leave rates unchanged and refrain from purchasing debt to drive down borrowing costs in the past three years.