Minutes from the Bank of Mexico’s 7 August policy meeting, published late Thursday, show a majority of board members arguing for further interest-rate reductions to support a slowing economy. The central bank cut the overnight rate by 25 basis points to 7.75 percent at that meeting—its ninth consecutive move—while Deputy Governor Jonathan Heath voted to keep borrowing costs unchanged, warning that price pressures may prove persistent. Board members who backed additional easing pointed to a weaker labour market, subdued domestic demand and an appreciating peso as factors that should help inflation converge on the 3 percent target. They also pledged to monitor exchange-rate shifts, external trade frictions and growth trends when calibrating future moves. Fresh economic data released on Friday underscore the bank’s cautious tone. Final figures from statistics agency Inegi confirmed that gross domestic product expanded 0.6 percent quarter-on-quarter in the April-to-June period, matching expectations but slipping from the 0.7 percent flash estimate; output was flat from a year earlier. The June Economic Activity Index rose 0.22 percent month-on-month and 1.3 percent annually, indicating only modest momentum. Price pressures continue to ease. Consumer inflation slowed to 3.49 percent in the first half of August, below the roughly 3.6 percent consensus, while core inflation held at 4.21 percent. The softer readings give Banxico additional room to extend its easing cycle, with investors now looking to the next rate decision on 25 September for signals on the pace of forthcoming cuts.