Mexico central bank leaves rate unchanged at 7%

Unanimous vote.

  • Going ahead the board will be vigilant of FX changes, output gap
  • Will also be vigilant of relative monopolistic stance with US as well as impact of quake on prices
  • says balance of risks to growth have deteriorated particularly because of perception that adverse scenarios in the US — Mexico ties could materialize
  • balance of risks to inflation may have deteriorated
  • says recent earthquakes could cause supply problems and price rises in some products, these would be temporary
  • past hikes have begun to have impact on inflation
  • In coming months general inflation seems to have reached its high point, without taking into account quakes 
  • effects of quake on economy and inflation be temporary and moderate

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