Mexico Cuts Rate for First Time in 5 Years as Economy Staggers

(Bloomberg) -- Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. Mexico’s central bank reduced borrowing costs for the first time in five years after inflation slowed, the economy faltered and the U.S. cut its own rate. The peso weakened before paring declines to post gains.Led by Governor Alejandro Diaz de Leon, the bank’s board voted 4 to 1 to lower rates a quarter point to 8% from a ten-year high. The decision was forecast by 1