PULSE NEWS MEXICO According to preliminary numbers from Mexico’s National Institute of Statistics and Geography (Inegi), released on Thursday, Aug. 18, the nation’s economy shrank by 0.1 percent in July, constituting the third month in a row with a negative growth rate. In June, Mexico’s economy also contracted by 0.1 percent, and in May, it contracted by 0.2 percent, based
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XINHUA The Board of Governors of the Central Bank of Mexico (Banxico) agreed Thursday, Aug. 11, to raise the key benchmark interest rate for the 10th consecutive time, in anticipation of higher inflation in the short term. The new rate is 8.5 percent. Five members of the board voted unanimously to increase the target for the overnight interbank interest rate
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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
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By ANTONIO GARZA, former U.S. ambassador to Mexico
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By JUAN DE JESÚS BREENE Like any country, Mexico has certain practices that would never happen anywhere else, and sometimes we become conditioned to accepting those quirky conventions with a “well, welcome to Mexico.” One of those practices that can easily be seen as ordinary is taking out your credit card for payment and hearing, “Oh, I’m sorry, if you
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PULSE NEWS MEXICO Although the next meeting of the Central Bank of Mexico (Banxico) is not due until Thursday, June 23, Banxico’s deputy governor, Jonathan Heath, on Friday, June 10, said that its board members will most likely increase the base interest rate by 75 points during that next monetary policy vote. Heath said that the increase, which is highly
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OPINION By RICARDO CASTILLO For four Mexican opposition political parties, it is the lull before the storm, scheduled for Sunday, June 5, when elections for governor will be held in six states. For sure the leaders of those parties are keeping up the competitive spirit, claiming the candidates they support will come out victors, a hope contenders claim is wishful
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By THE PULSE NEWS MEXICO STAFF Mexico’s soaring inflation rate hit a 21-year high in April, with consumer prices reaching an increase of 7.68 percent for the year, and 54 percent for that month alone, the National Institute of Statistics and Geography (Inegi) reported Monday, May 9. The Central Bank of Mexico (Banxico), which is expected to hike its benchmark
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By THE PULSE NEWS MEXICO STAFF The flow of economic remittances into Mexico by migrants working abroad grew by 18.47 percent annually compared to the same period last year, to a total of $13.911 billion, during the first quarter of 2022, the Central Bank of Mexico (Banxico) said Monday, May 2. This figure represents the highest increase during a similar
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By THE PULSE NEWS MEXICO STAFF As inflation in Mexico continues to surge month-after-month, hitting 7.45 percent in March, President Andrés Manuel López Obrador (AMLO) announced on Tuesday, April 26, the framework of his plan to reduce price increases by forming a pact with private-sector producers and distributors. In his proposed plan to control the cost of eggs, milk, oil,
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