Mexico's central bank cut its benchmark target for the overnight rate by 50 basis points to 3.0 percent, a surprise to financial markets, but is not considering further rate cuts in the immediate future due to the expected recovery of the U.S. economy and its relative monetary stance. The Bank of Mexico, which cut its rate by 100 basis points in 2013, said the margin of slack in the economy had risen and there were downside risks to economic growth while the risks to higher inflation had eased. "The weak performance of the economy in the first quarter suggests a more moderate recovery than anticipated for the ... (full story)