XINHUA Mexico will begin operating a digital currency issued by the Central Bank of Mexico (Banxico) in 2025, the bank’s governor, Victoria Rodríguez Ceja, announced Thursday, April 21. The new digital currency, which will be known as Central Bank Digital Currency (CBDC), is intended to generate alternative means of payment and providing greater financial inclusion. The social benefits derived from
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By THE PULSE NEWS MEXICO STAFF According to the National Institute of Statistics and Geography (Inegi), inflation in Mexico hit 7.45 percent in March, its highest level in 21 years. The annual inflation rate for the third month of the year was higher than the 7.28 percent reported in February, and exceeded the 7.38 percent forecast by the Bank of
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By THÉRÈSE MARGOLIS Former Central Bank of Mexico (Banxico) Governor and current General Manager of the Bank for International Settlements (BIS) Agustín Carstens said Tuesday, April 5, that, like it or not, inflation is here to stay, at least for the foreseeable future. Speaking before the International Center for Monetary and Banking Studies in Geneva, Switzerland, Carstens, who served as
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XINHUA Mexico is facing the risk of weaker domestic consumption and investment as the growth rate of global economic activity moderates, the country’s main financial authorities warned Wednesday, March 30. The Financial System Stability Council (CESF) said in a statement that global inflation continued on an upward trend, driven mainly by high food and energy prices. “In this environment, global
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By THE PULSE NEWS MEXICO STAFF The Central Bank of Mexico (Banxico) on Thursday, March 24, increased its baseline interest rate by 0.50 percentage points to 6.5 percent in response to soaring inflation, which reached 7.29 percent in the first half of March. This was the seventh time in a row that Banxico has raised the rate, and the third
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By THE PULSE NEWS MEXICO STAFF Alejandro Díaz de León, the former governor of Mexico’s Central Bank (Banxico) was appointed Thursday, March 24, to be the new corporate director of Grupo Bal, a Mexican private-sector conglomerate that includes Palacio de Hierro, Industrias Peñoles and Fresnillo In a statement signed by Grupo Bal president Alejandro Baillères said that “the extensive, deep and
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By ANTONIO GARZA, former U.S. ambassador to Mexico
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OPINION By THÉRÈSE MARGOLIS In what was seen by many women in Mexico as a blatant affront to their cause to end the country’s surging levels of femicide and gender-based violence, President Andrés Manuel López Obrador (AMLO) marked Tuesday, March 8, International Women’s Day (M8), locked in the National Palace, congratulating himself for his political accomplishments (like, for example, more
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XINHUA Mexico and China have made significant gains from cooperation in trade and other areas since the establishment of bilateral diplomatic relations 50 years ago, Mexican Economy Secretary Tatiana Clouthier said last week. “We are very pleased” with the “significant achievements that have been cultivated over time,” Clouthier said in an interview with the Chinese news agency Xinhua. “China is
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By THE PULSE NEWS MEXICO STAFF Keeping President Andrés Manuel López Obrador’s (AMLO) promise on Thursday, March 3, to not raise gasoline prices as global crude oil prices soar will come with a hefty price tag for his administration, experts warned on Friday, March 4. Just last January, the fiscal stimulus granted by the government to gasoline consumers represented a
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