Mexico's central bank will likely cut its benchmark interest rate by 50 basis points later this week, taking it to 9.50%, a Reuters poll showed on Wednesday, as inflation cools and the economy notched a slight contraction late last year.

The RBI has kept the repo rate steady at 6.5 per cent since February 2023. The last rate cut occurred in May 2020 during the pandemic, after which the rate was gradually raised to its current level

Board members of Colombia's central bank are expected to opt for a smaller rate cut when they meet on Friday on uncertainty around inflation, the nation's fiscal situation and policy moves by the U.S.

Kenya’s central bank cut the benchmark interest rate for the fourth time in a row as inflation sits comfortably at the lower end of its target band.