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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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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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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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 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 THE PULSE NEWS MEXICO STAFF Mexico’s Central Bank (Banxico) warned Thursday, Sept. 28, that the country will suffer higher inflation in the months ahead, raising its forecast for the close the year to 6.2 percent, up from its previous prediction of 5.7 percent. That new figure will constitute the highest level of Mexican inflation since December 2017, when it
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By THE PULSE NEWS MEXICO STAFF After Mexico’s Central Bank (Banxico) shocked financial markets with a surprise .25 interest rate hike on Thursday, June 24, analysts are now predicting that the bank will issue additional increases this year to combat surging inflation, which reached more than 6 percent in May.Banxico raised its key rate to 4.25 percent in a split
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By THE PULSE NEWS MEXICO STAFF In an expected but still-unprecedented move intended to help stimulate the country’s floundering economy, Mexico’s Central Bank (Banxico) cut interests to a record low of just 4 percent late Thursday, Feb. 11. In its first official meeting of 2021, Banxico’s board of directors voted unanimously to continue to reduce interest rates, in keeping with
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By RICARDO CASTILLO Politics and Vaccinations The inevitable mixture of pandemic vaccinations and Mexico’s electoral year politicking could be foreseen months ago. But, now that the antigen is trickling into the country in ever-growing numbers, so is the criticism of opposition political parties who claim President Andrés Manuel López Obrador (AMLO) is using the vaccines as a political tool to
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By RICARDO CASTILLO AMLO Headed to Washington There is no doubt that Mexican President Andrés Manuel López Obrador (AMLO) will make his first international outing to Washington D.C. He announced this week that it was a done deal. The remaining problem is exactly when the trip will take place. AMLO has repeatedly stated he will do it in the first
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