Bank of Mexico: No Further Rate Cut Now
June 7, 2013
After holding the Mexican central bank interest rate at 4.0%, monetary officials released a statement predicting a convergence of headline and core inflation on the 3.0% target in the medium term. Officials blamed the higher-than-3% current headline CPI on temporary factors and reiterated that growth had slowed significantly this year. Exports and domestic demand have each contributed, and downside growth risks persist. In early March, the interest rate was sliced by 50 basis points from 4.5%, marking its first reduction since July 2009.
Copyright 2013, Larry Greenberg. All rights reserved. No secondary distribution without express permission.
Tags: Bank of Mexico
ShareThis
