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
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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 moreMexico’s Next President: Nearshoring
Nearshoring picked up steam when the covid-19 pandemic exposed the considerable risks inherent in the supply chains for numerous critically important products and intermediate goods for which there was often a single supplier
Read moreMore Turbulence Ahead, Keep Those Seatbelts Buckled
Global commentators have suggested that the political wildcard for 2024 will be the United States
Read moreRadical Uncertainty, the New Normal
Despite the uncertainty associated with the upcoming elections, Mexico’s economic outlook for 2024 looks relatively stable, given a combination of U.S. demand, government spending and remittances
Read moreWorld on Edge: Calling All Statesmen
concerns have emerged over the possibility of an expanding crisis as Iran confirmed its involvement in the Hamas attacks and Iranian-backed Hezbollah intensifies its presence along Israel’s northern border
Read moreMexico in the Midst of Geopolitical Chess
Amid all the geopolitical shifts, political changes are also coming in Mexico
Read moreMexican Exports Down amid Fears of US Recession
As a result, Mexico registered a trade deficit in April of almost $1.51 billion
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