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Mexico inflation likely eased in first half of August

Mexico's year-on-year inflation likely eased in the first half of August, a Reuters poll showed on Monday, bolstering the case for the central bank to cuts its key interest rate again at its meeting next month. The median forecast of 10 analysts estimated inflation for the first two weeks of the month at 5.33%, down from 5.52% in the second half of July but still far from the central bank's target of 3% plus or minus one percentage point. Early this month, the Bank of Mexico (Banxico) cut its benchmark interest rate by 25 basis points to 10.75% in a split decision by the bank's governing board.