By KELIN DILLON On Wednesday, Nov. 24, Mexican President Andrés Manuel López Obrador (AMLO) nominated Undersecretary of Expenditures of the Secretariat of Finance (SHCP) Victoria Rodríguez Ceja to head the Central Bank of Mexico (Banxico) despite her inexperience, in what many said was a snub to former SHCP head Arturo Herrera, who had been informed of his loss of the
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By THE PULSE NEWS MEXICO STAFF Mexico’s Central Bank (Banxico) warned Thursday, Sept. 28, that the country will suffer higher inflation in the months ahead, raising its forecast for the close the year to 6.2 percent, up from its previous prediction of 5.7 percent. That new figure will constitute the highest level of Mexican inflation since December 2017, when it
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By KELIN DILLON On the morning of Wednesday, Aug. 18, Mexican President Andrés Manuel López Obrador (AMLO) revealed he would formally request the Central Bank of Mexico (Banxico) to transfer the Special Drawing Rights (SDR) funds given by the International Monetary Fund (IMF) to Mexico’s treasury. The IMF Board of Governors previously approved the distribution of $650 billion worth in
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By THE PULSE NEWS MEXICO STAFF After Mexico’s Central Bank (Banxico) shocked financial markets with a surprise .25 interest rate hike on Thursday, June 24, analysts are now predicting that the bank will issue additional increases this year to combat surging inflation, which reached more than 6 percent in May.Banxico raised its key rate to 4.25 percent in a split
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By THE PULSE NEWS MEXICO STAFF In an expected but still-unprecedented move intended to help stimulate the country’s floundering economy, Mexico’s Central Bank (Banxico) cut interests to a record low of just 4 percent late Thursday, Feb. 11. In its first official meeting of 2021, Banxico’s board of directors voted unanimously to continue to reduce interest rates, in keeping with
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By THE PULSE NEWS MEXICO STAFF The Mexico peso ended the month of January with its worst weekly drop in value against the U.S. dollar since September of last year. According to the Central Bank of Mexico (Banxico), the nation’s currency depreciated by 1.24 percent on Friday, Jan. 29, to a bank exchange rate of 20.44 units to the dollar.
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By SILVIO CANTO, JR. On Saturday, Jan. 23, U.S. President Joe Biden and Mexican President Andrés Manuel López Obrador spoke by phone. According to news reports, the Mexican president said that the United Stats has pledged $4 billion to Central America. in development investment programs. I guess that Biden is hoping that money going south will keep caravans from going
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By RICARDO CASTILLO The last brawl in this legislative year in the Mexican Congress was over the so-called “Monreal Bill” that was stuck in the middle of a verbal debate and its vote postponed until February. The bill is also known as the “Bank of Mexico,” or “Banxico Bill,” and it has already passed with leeway at the Senate, and
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By KELIN DILLON Considerable controversy has arisen in Mexico over the Senate’s approval of reforms to the Bank of Mexico (Banxico), known as the Monreal Law, named after Senator Ricardo Monreal, who drafted the bill. Now, Secretary of Finance and Public Credit (SHCP) Arturo Herrera Gutiérrez has announced a postponement of these reforms until February 2021. “Clearly, very important implications
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By KYLIE MADRY Dr. AMLO’s In Mexican President Andrés Manuel López Obrador (AMLO) reported testing negative for covid-19 Wednesday, Oct. 21, following positive cases among several of his cabinet members over the past week. He threw in his two cents at his morning press conference, telling Mexicans to eat healthy to avoid catching the virus. “Don’t eat in excess, don’t
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