Mexico maintains one-day interest rate at 4½%

By Richard Connell

New York, June 18 - 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 of the Mexican central bank noted that the recent instability in certain eurozone countries had little effect on the economy of both the United States and Mexico.

Both production and manufacturing exports increased in Mexico, while private consumption and investment lagged, though the board did note some recent improvements.

Inflation fell again in May, and while the board noted that this partially reflects seasonal effects, it pointed out that looking forward inflation remains consistent with earlier forecasts.

Believing the current policy position correct to keep inflation in line to meet the inflation target of 3%, the board held the interest rate at 4½%.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.