Bank of Mexico delivers surprise 25 basis point rate cut

Mexico lowers rates to 8.00% from 8.25%

Cuts, coming soon to a central bank near you.

Economists were roughly divided on whether they would cut or not but the majority came down on the side of holding. The central bank said it wasn't a unanimous decision with one dissent.

They said the balance of risks to growth were still tilted downwards in an environment of marked uncertainty.