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
What are the differences between Health Insurance and Travel Insurance?
Do you know what the differences.
HATE TOY FOR CHILDREN
EDITOR NOTE Once upon a time,.
Yucatecan scientists create high-performance ecologic nano-fertilizer
In order to generate better and.
U.S. Department of State Travel Advisory Annual Update
The U.S. Department of State conducted.
Maya Train requires an investment of more than 40 billion pesos just for Quintana Roo
The construction of the Mayan Train,.
Campeche’s appointment as Cultural Heritage of Humanity in danger
“If the city wants to preserve.
This years’s Liseberg Applause Award for inspiration went to Xcaret, Quintana Roo
The 2018 IAAPA Attractions Expo kicked.
President Peña Nieto and ex-president Calderón allegedly received millions from drug cartel
The Sinaloa cartel allegedly bribed Mexico’s.
Police officer killed at the entrance of SSP building in Mérida (Diario de Yucatán)
MERIDA.- After a shooting, the death.
Port of Progreso needs to be strengthened, expanded and modernized: SEFOE
The Secretary of Economic Development of.