Banxico Slashes Interest Rate by 50 Basis Points
The Bank of Mexico has cut its interest rate to 9 percent amid cooling inflation, Mexico’s lowest interest rate since September 2022
Read moreTag Archives: Bank of Mexico
Remittances Decline 9.6 Percent in July
However, Mexico’s total remittances received during the first seven months of 2024 still represented a year-over-year increase during the same period of the previous year
Read moreMexican Peso Reaches Strongest Level Against Dollar Since 2015
Despite the current strength of the peso, the Bank of Mexico predicts the peso-to-dollar exchange rate will rise above 18 to 1 by the end of the calendar year
Read moreMexico Reaches Remittances Record in First Two Months of 2024
The Bank of Mexico registered $9.85 million in remittances during January and February 2024
Read moreInfonavit’s Housing Loan Default Rate Surges to 34 Percent
The Institute of the National Housing Fund for Workers’s housing loan default rate has grown by 16.3 percent since March 2019, creating a unstable environment for Mexican workers seeking new housing loans
Read morePemex: What’s There to Celebrate?
The cow has run dry and is no longer producing milk
Read moreMexico’s Economic Strength Slips as 2022 Comes to a Close
By KELIN DILLON According to Mexico’s autonomous National Institute of Statistics and Geography (Inegi) and its corresponding Timely Indicator of Economic Activity (IOAE), the Mexican economy slowed down at the end of 2022 as November’s reported .1 percent economic decline ended the nation’s previous four-month streak of positive economic growth. November’s figures represent Mexico’s first economic decline since June 2022,
Read moreSo Long, January Slope: AMLO Promises to Preserve 2022 Prices for 2023
By KELIN DILLON On Monday, Dec. 19, Mexican President Andrés Manuel López Obrador (AMLO) announced during his daily morning press conference that there will be no price hikes in Mexico this coming January, while encouraging the nation’s citizens to save as much money as they can and instead “give affection” as a gift this holiday season. Mexico, like many countries
Read moreInternal Economic Policies in Mexico Accelerate Capital Flight
By MARK LORENZANA In the second quarter of this year, outflow of capital from Mexico totaled $5.74 billion, a figure 88.9 percent higher than the previous quarter. For the ninth consecutive quarter, the country has registered capital flight, according to figures from the Central Bank of Mexico (Banxico). Gabriela Siller, director of economic analysis at Banco Base, explained that the covid-19 pandemic
Read moreMexican Government Announces News Measures to Fight Inflation
XINHUA The Mexican government will take additional measures to counter rising inflation as part of the package against inflation and famine that took effect in May, Secretary of Finance Rogelio Ramirez de la O announced here Tuesday, Aug. 2. That package consisted of freezing the price on 24 basic products that Mexicans consume on a regular basis. However, despite that
Read more