The Mexican central bank raised the overnight rate to 4.25% from 3.75%.
- worsen global conditions could impact CPI
- looks keep <XN from hitting inflation expectations
- expects CPI to rise a slightly above 3% by year-end
- saw steep rise in food merchandise prices
- more public financing tightening would be desirable
- will be vigilant of relative monetary position between Mexico and the United States
- Mexico central bank says board will closely follow exchange rate and possible pass-through
- inflations scenario for short and medium-term is congruent with 3% target but external conditions deteriorated in a significant way
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