Six-point Growth & Productivity Plan

MEXICO - Report 10 Jun 2014 by Mauricio González and Ernesto Cervera
Executive Summary Without a doubt the most surprising economic news out of Mexico last week was Banco de México’s announcement that it was lowering its overnight interbank lending rate by 50 basis points to a new record low of 3.0%. It was a move that caught financial markets and analysts entirely off guard. The last time Mexico’s central bank adjusted its reference rate was with a 25-basis point cut last October 25. In announcing the decision, the bank said it does not perceive any inflation pressures arising from the expected performance of aggregate demand; "Given the greater margin of s...

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