Mexico's headline inflation rate eased more than expected in December, fueling bets that the central bank will keep cutting its benchmark interest rate despite an uptick in the core consumer price index.

Mexico’s annual inflation eased last month to the lowest level since February 2021, keeping in play a fifth straight interest rate cut at the central bank’s next policy meeting.

The central bank cut its benchmark rate by 25 basis points to 10% in December. Minutes hint the bank will consider 50-basis-point cuts going forward.

A winter storm will continue to bring snow to parts of New Mexico through Thursday night. Bitterly cold air will move in Friday morning. Widespread snow has been falling across New Mexico Thursday, bringing accumulating snow and icy roads to parts of the state.

One last round of snow will develop across New Mexico Thursday. Light, widespread snowfall accumulations could bring icy roads in southern and eastern New Mexico through Friday morning. Snow moved through southern New Mexico Wednesday,