The Bank of Mexico on Thursday lowered its benchmark interest rate by 25 basis points for a third straight meeting, underscoring progress on bringing down core inflation and signaling future rate cuts were possible.

The central bank board voted unanimously to cut the overnight interest-rate target to 10.25% from 10.5%.

The Bank of Mexico lowered its benchmark interest rate by 25 basis points to 10.25% in a unanimous decision, it said on Thursday, its third consecutive rate cut as core inflation in Latin America's second-largest economy continues to ease.

The Bank of Mexico lowered its benchmark interest rate by 25 basis points on Thursday, marking its third consecutive rate cut. This decision reflects progress in managing inflation and signals that additional