President Donald Trump says that tame inflation means the Federal Reserve should already be reducing its policy rate, but inside the U.S. central bank the idea has little traction, with only two Fed policymakers to date embracing the possibility of a rate cut at the central bank's next meeting in July.

The central bank of Mexico cut its benchmark interest rate by 50 basis points on Thursday, leaving the door open for further cuts.

The central bank lowered its overnight interest-rate target to 8% in split 4-1 vote.