Mexico's central bank slashed its economic growth forecast on Wednesday following market upheaval over Donald Trump's victory in the US presidential election.

Shortly after the finance ministry maintained its own outlook, the bank said it lowered its projections to a range of 1.8-2.3 percent in 2016 (from 1.7-2.5 percent previously) and 1.5-2.5 percent in 2017 (from 2.0-3.0 percent in a previous report).