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
Yucatán beekeepers to receive more and better support from state government
The Yucatan state government and apicultural.
AMLO orders end to corporate tax breaks in Mexico
MEXICO CITY, May 20 (Reuters) –.
Climate change improves production of habanero pepper in Yucatán
“Facing the climate change that prevails.
Google suspends business with Huawei after Trump blacklist
Alphabet Inc’s Google has suspended business.
On World Bee Day, actions are needed to Save the Bees
The United Nations designated May 20.
Morehouse College grads are surprised by a billionaire’s promise
Atlanta, GA (CNN) – Morehouse College.
Father of slain pregnant teen blames ‘anti-immigrant laws’ for delay in investigation
The father of a pregnant teenager found.
Trump ‘engaged in impeachable conduct’… GOP Rep. Justin Amash.
Justin Amash is the first GOP.
Los Cabos, Mexico from a tourist point of view (VIDEO)
Laurel and Brandon went on vacation.
Quintana Roo beaches threatened by smelly seaweed invasion
MEXICO CITY (AP) — Tourists looking.