XINHUA Mexico’s Central Bank (Banxico) on Thursday, Feb. 10, raised its key interest rate for the sixth consecutive time in response to what it called greater and longer-than-expected inflationary pressures. B Banxico said in a statement that its governing board had decided by majority vote to raise the target for the overnight interbank interest rate by 50 basis points, to
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XINHUA Mexico received a record $51.594 billion in remittances in 2021, according to a report released Tuesday, Feb. 2, by the Central Bank of Mexico (Banxico). The amount of money that Mexicans living abroad sent home to their families last year was 27.1 percent higher than the amount in 2020, when the country received $40.605 in remittances, Banxico data showed.
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By THE PULSE NEWS MEXICO STAFF Despite repeated promises from President Andrés Manuel López Obrador (AMLO) of a 6-percent economic growth in 2021, Mexico registered a 0.2 percent contraction last quarter, marking three straight trimesters in a row of decline in the nation’s gross domestic product (GDP), according to statistics provided Wednesday, Jan. 19, by the National Institute of Statistics
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OPINION By ALEJANDRO ENVILA FISHER Since Andrés Manuel López Obrador (AMLO) took office three years ago, no government official in Mexico, be it fe3deral, state or municipal, nor member of any autonomous bodies or the country’s federal judicial powers, is allowed to have a salary higher than — or even equal to — that of the president. However, since a
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OPINION By THÉRÈSE MARGOLIS Despite the fact that just five months ago, Citigroup CEO Jane Fraser met with Mexican President Andrés Manuel López Obrador (AMLO) at the National Palace, declaring that the international financial group considered Mexico “a country of opportunities” thanks to its economic, political and social stability, the corporation announced on Tuesday, Jan. 11, that it would be
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By THE PULSE NEWS MEXICO STAFF In a surprise move to help curb spiraling inflation, the Central Bank of Mexico (Banxico) raised its benchmark interest rates on Friday, Dec. 16, by 50 points, from 5 percent to 5.50 percent. The last time Banxico raised the rate by 50 points was on Feb. 9, 2017. Most financial analysts had predicted that
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By THE PULSE NEWS MEXICO STAFF Inflation in Mexico jumped dramatically in November to 7.37 percent, its highest level since January 2001, and financial analysts have raised their annual forecasts to close the year at 8 percent. In the second half of the November, the National Consumer Price Index (INPC) jumped to 7.7 percent, also its highest level since 2001,
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By THE PULSE NEWS MEXICO STAFF Since the start of the year, some food prices in Mexico have doubled, and others have increased by as much as 148 pecent, according the the National Institute of Statistics and Geography (Inegi). The price of avocados has increased by 45 percent since January, while onion prices are up 44 percent and tomatoes are
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By THE PULSE NEWS MEXICO STAFF During the third trimester of 2021, portfolio investment in Mexico registered nearly $14.6 billion in capital flight, both foreign and national, representing a 1,147 percent increase compared to the $1.17 billion that left the country during the same period of 2020. The 2021 third quarter figure is the largest capital exodus recorded for any
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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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