The Bank of Mexico (Banxico) decided on Thursday to reduce its interest rate by 0.25% interest rate interbank rate to 10.75% on the very same day that it was announced that annual inflation stood at 5.57% in July, a surprising move that was highly questioned by financial analysts. The central bank’s decision came amid volatility […]
Tag: Banxico
Banxico could intervene “with caution” if peso volatility becomes “extreme”
Mexico could intervene to restore order if the market volatility currency becomes “extreme”said the governor of the central bank, Victoria Rodríguez. Rodriguez He made these statements on Wednesday, in a month in which the peso has led global losses, although he stopped short of committing to intervene. The head of Banxico said that possible intervention […]
Banxico will maintain a “prudent” policy because inflation will take time to dissipate
He Bank of Mexico (Banxico) considered this Thursday that it will be necessary to maintain a monetary politics “prudent” in view of “the prospect that the effects of inflationary shocks will take longer to dissipate.” The Governing Board, in a document“opined that challenges and risks persist that warrant continuing with prudent management of monetary policy”and […]
Economic keys that will mark the week in America
This week, marked by the celebration of Labor Day and the publication of business results, the advanced GDP data for Mexico and the inflation data for Peru for April are published. These are the economic keys that will mark the week in America: Monday 29 The National Institute of Statistics of Mexico publishes the indicators […]
Banxico: adjustments to key rates could be gradual, says its governor
The governor of central bank of Mexico (Banxico)Victoria Rodríguez, considers that the downward adjustments in the rate key of the entity could be gradual and will depend on the behavior of the inflationaccording to an interview published on Monday in the newspaper El Financiero. Banxico decided last week to maintain its reference interest rate at […]
Deputy Governor of Banxico opens the door to key rate adjustment in the first quarter of 2024
The deputy governor of mexican central bankBanxico, Jonathan Heath said on Monday that if inflation continues to decline in the country, especially core inflation, there could be an adjustment to the key interest rate for February or March. The central bank has said several times in recent months that to achieve the orderly and sustained […]
Banco de México maintains the interest rate unchanged at 11.25% for the fifth time
He Bank of Mexico (Banxico) remained unchanged this Thursday, for the fifth consecutive time, the interest rate at 11.25%, the highest level in its history, announcing that it will still have to keep it that way “for a certain time”. In its announcement, which was within market expectations, the central bank “recognized that the disinflationary […]
‘Nearshoring’ already benefits 3 out of 10 Mexican companies, according to Banxico
The relocation of strings o’nearshoring‘ “it’s happening” and it already benefits three out of 10 mexican companies with an increase in its production in the first quarter of 2023, the Bank of Mexico (Banxico) estimated this Thursday. “Regarding impacts that have already materialized, 30.7% of the companies mention having signed new contracts with foreign companies […]
The Mexican Treasury sees the sale of Banamex close and benefits to the banking sector
The purchase of Mexican National Bank (Banamex) is nearing the end and will benefit the banking sector with a possible greater competition, said this Thursday the Undersecretary of Finance and Public Credit, Gabriel Yorio. The Mexican official maintained that the negotiation between the American Citigroup and Grupo México of magnate Germán Larrea, the second richest […]
The Bank of Mexico maintains the interest rate at 11.25% and breaks its streak of increases
The Bank of Mexico (Banxico) this Thursday kept the interest rate unchanged at 11.25%the highest level in its history, in a decision that broke with fifteen consecutive increases given the high levels of inflation. In its announcement, the central bank “He considered that a phase of disinflation has been entered due to the fact that […]