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 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 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 RICARDO CASTILLO New Dollar Revenues Law The Mexican Senate approved a bill on Wednesday, Dec. 9, stipulating that all foreign currencies income flowing into Mexico should stay in the nation and not be allowed to be repatriated to the country of its origin. The board of directors of Mexico’s central bank, Banco de Mexico (Banxico), immediately challenged the bill,
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By RICARDO CASTILLO AMLO Reshuffles his Queens The reshuffling of women in the Mexican presidential cabinet that was announced on Monday, Dec. 7, may not be to the liking of many, but the dice have already rolled and the shots stand. The problem with the five reappointed women in the cabinet of President Andrés Manuel López Obrador (AMLO) is not
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