BUSINESS BRIEFING / INTERNATIONAL
Times Staff and Wire Reports
Mexico’s central bank cut its key interest rate by three quarters of a point to spur growth for the recession-plagued economy.
The bank lowered the benchmark rate to 5.25% from 6%, saying strong action was needed because the economy had contracted more than expected this year after a fall in exports to the United States and the national shutdown to control swine flu.
More to Read
Start your day right
Sign up for Essential California for news, features and recommendations from the L.A. Times and beyond in your inbox six days a week.
You may occasionally receive promotional content from the Los Angeles Times.