Banco de Mexico keeps one-day interbank interest rate at 4½%

By Richard Connell

New York, April 16 - The Board of Governors of the Banco de Mexico left its one-day interbank interest rate at 4½% at its meeting on Friday, according to a news release issued by the bank.

The board noted that the global economic recovery has continued, although in the advanced economies consumption remains low while unemployment levels remain high.

In Mexico, the domestic economy has shown an upward trend, particularly production and manufacturing exports, a result of improvements in the economy of the United States.

Headline inflation in Mexico over the first three months of 2010 remained at the upper boundary of the range anticipated by the bank, and looking forward inflation is expected to have an underlying downward trend.

Assessing that inflation will remain stable, although above the goal of 3%, the board left the interest rate unchanged at 4½%.

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