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Central bank watchers may be in a state of shock...after Mexico unexpectedly slashed its benchmark rate by 50 bps...to a record low...4%.
It's Mexico's first interest rate cut since 2009.
The peso strengthened on the move.
Inflation...at 3%...is still within the target range of 2%-4%.
http://www.bloomberg.com/news/2013-03-08/mexico-central-bank-cuts-key-rate-for-first-time-since-2009.html
