MEXICO CITY (Reuters) -The Bank of Mexico should be more cautious cutting interest rates given the current scenario of sticky core inflation and headline inflation still above target, deputy governor Jonathan Heath said in an interview published on Wednesday.

The central bank has cut borrowing costs for ten straight meetings, most recently delivering a quarter percentage cut last month that Heath opposed.

While the annual headline inflation sits within the Bank of Mexico’s target range of 3%, plus or minus a percentage point, the goal is to get it to 3%, Heath said in an podcast by Grupo Financiero Banorte.

The annual headline rate sped up in September to 3.76%, according to official data. The central bank estimates the rate will hit 3% in the third quarter of next year.

“The inflation

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