The Bank of Mexico cut its benchmark interest rate to its lowest level since May 2022 on Thursday and indicated it would consider further easing at future meetings, amid ongoing concerns about global trade tensions and sluggish economic growth in Latin America's second largest economy. Banxico, as the central bank is known, reduced its benchmark interest rate by 25 basis points to 7.5% in a divided vote. Deputy Governor Jonathan Heath was the sole member of the five-member board who voted to hold the interest rate at 7.75%.