MEXICO CITY, July 21 (Reuters) - Mexico’s central bank will likely cut its interest rate by 50 basis points at its next monetary policy meeting in August and keep borrowing costs at 4.50% until the end of next year, according to a survey by Citibanamex published on Tuesday.
Mexico’s peso is projected to reach 22.80 per dollar by the end of the year and 22.44 by the end of next year, the survey said. The peso exchange rate on Tuesday was 22.32 per dollar.
The next monetary policy meeting of Banxico, as the central bank is known, is scheduled for Aug. 13. (Reporting by Noe Torres Writing by Stefanie Eschenbacher; Editing by Tom Brown)