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

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.

Mexico's President Andres Manuel Lopez Obrador announced that the country's Finance Minister, Rogelio Ramirez de la O, will meet with bankers to request a reduction in interest rates, as reported by Reuters. This move comes in response to the central bank's decision to maintain its benchmark interest rate at 11.25%, a rate Lopez Obrador considers too high. The President expressed his belief that the high interest rates are detrimental to the economy and suggested that banks should lower their rates to stimulate economic growth. This meeting with bankers is set to take place on Thursday, following the central bank's decision.

Read the Full Reuters Article at:
https://www.msn.com/en-us/money/markets/mexicos-finance-minister-to-ask-banks-to-lower-interest-rates-president-says/ar-AA1CTWKM