Mexico’s central bank kept its key interest rate unchanged, saying that a half point increase in borrowing costs in June is helping to curb inflation risks, Bloomberg News reported.
Banco de Mexico led by Governor Agustin Carstens held its overnight rate at 4.25 percent Thursday Aug. 11, a move predicted by all but one of 28 economists surveyed by Bloomberg. One analyst had forecast a 50 basis-point increase. Thursday’s decision follows the rate hike on June 30 that came amid market turmoil over the U.K.’s vote to leave the European Union.
Since then, Mexico’s currency has recovered from its plunge to record lows triggered by the Brexit vote, while consumer price increases have remained below the central bank’s 3 percent target for the past 15 months. Mexico took bold steps to prevent the peso’s weakness from quickening inflation, including surprising markets with a half-point rate hike in February at an unscheduled meeting. Now Banxico says that inflation risks are neutral, while the economic growth outlook has deteriorated.
To read complete article click here:
more recommended stories
The Mulsay Zoo, long forgotten by the people and authorities of Mérida
Residents of western Mérida are sad.
Animal cruelty in the state of Puebla goes unpunished
In the last month, 15 stray.
Priest shot dead marks 2nd clerical murder this week in Mexico
Roman Catholic authorities in Mexico say.
Mexican presidential candidates face off in first debate with clear lead in polls for leftist AMLO
On Sunday April 22, the first debate.
Yucatán hosts regional technology node for greater innovation
Composed by 10 scientific-academic institutions from.
Leaders of the Americas adopt commitment to fight corruption
The 8th Summit of the Americas.
Spanish oil company Repsol enters the Mexican market
Seven gas stations in Baja California.
Balché: Sacred Maya drink
The balché is a Maya ceremonial.
Satellite Wi-Fi will take the Internet to disconnected Mexicans
In Mexico there are 63.9 million.
Fundraiser event held in Valladolid to benefit DIF and Lions Club
A total of 21 designers from.