Bank of Mexico (Banxico)
Mexican deputy cautious of data-dependent Fed policy
Manuel Sánchez sees potential for smooth tightening if markets are able to price in rate changes, but remains alert to risk Fed is pushed into acting faster than planned
BIS paper analyses carry trades in Latin America
BIS working paper analyses currency carry trades in Latin America, the attractiveness and visibility of which have suffered in part due to regulatory changes
Bank of Mexico delivers $2 billion surplus to the government
The 12.4% depreciation of the peso against the dollar in 2014 had a positive impact on the Bank of Mexico reserves, allowing the central bank to deliver a $2 billion surplus to the government
Interview: Manuel Sánchez on shifting financial stability risks
Bank of Mexico deputy governor speaks about monetary policy normalisation in the US, the limits of macro-prudential tools and developing capital markets
Carstens expects Mexican inflation to end year at 3% target
Bank of Mexico governor expects inflation to end the year at 3% target, but does not rule out an interest rate increase if prices start to rise due to a weaker peso
Sánchez encourages ‘realistic’ expectations of macro-prudential tools
Bank of Mexico deputy governor considers effectiveness of macro-prudential tools and the potential unintended consequences at Central Banking training series
Bank of Mexico lays out new rules for local derivatives
Interest rate swaps will have to be traded on electronic platforms and derivatives exchanges and transacted through clearing houses, according to new rules
Bank of Mexico paper warns of EM bond runs
Paper stresses vulnerability in face of Fed lift-off, even with low levels of leverage, noting mechanisms essentially unrelated to degree of leverage can determine financial stability
Mexican deputy tells EMs to assume US rate hike coming ‘sooner rather than later’
Javier Guzmán Calafell advises emerging markets to prepare ‘as fast as possible for a worst-case scenario’ in anticipation of the Federal Reserve tightening policy later this year
Bank of Mexico expands dollar sales to stabilise peso
Mexico’s central bank is slowing the pace of reserve accumulation to fund $52 million daily auctions for the next three months, after the peso hit an historic low
Carstens picked to head IMFC
Bank of Mexico governor will succeed Tharman Shanmugaratnam as head of the IMF’s International Monetary and Financial Committee
Fed hawk Fisher receives Mexican eagle award
Richard Fisher granted Order of the Aztec Eagle by Mexican president; Agustín Carstens praises the Dallas Fed president’s use of ‘simple and straightforward’ language
Prolonged weakness of Mexico’s peso could impact inflation, says central bank deputy
A weakening of the Mexican peso could lead to a pick-up in inflation and ‘should be carefully monitored’, says Manuel Sánchez
Bank of Mexico expects inflation back on target in 2015
Inflation in Mexico ended the year slightly above target, at 4.08%; Agustín Carstens expects it will converge to the goal of 3% ‘from mid-2015’
Bank of Mexico sells dollars to stop peso decline
Bank of Mexico will buy up to $200 million worth of pesos a day, after a currency depreciation that it fears could boost inflation and push the central bank into an interest rate hike
Active FX intervention could have long-term costs, says Bank of Mexico deputy
Central bank policies to manage capital flows ‘may have resulted in short-term benefits’ but their costs in terms of market distortions ‘may be high’
Banxico deputy says stagnant TFP 'by far' economy's biggest problem
While TFP in China has increased dramatically since the 1980s, in Mexico it has remained ‘basically flat', notes Manuel Sanchez
IMF finds Mexico well-placed to weather capital market volatility
Mexico should be able to ‘weather’ a rise in volatility, says the IMF, since the country has a healthy buffer of international reserves and ‘deep and liquid’ financial markets
Bank of Mexico’s Sánchez considers EM response to tighter Fed policy
Deputy governor says emerging markets will need to contend with the end of the ‘financial bonanza’ that surfaced in the wake of the crisis, and must consolidate
Mexican committee makes progress on bank liquidity rules
Bank of Mexico is setting up new rules on banking liquidity that will take effect in January 2015, in line with Basel III requirements; work progressed through new committee
People: Mexican deputy gets second term; Paraguay names new director
Mexican president reappoints Legaspi as deputy governor of Bank of Mexico; Central Bank of Paraguay promotes legal unit manager to director; and more
Carstens says EMs should look inwards to engineer growth
Bank of Mexico governor warns developed economies will grow below potential for a 'relatively long period’; Lagarde would 'do belly dancing' if it got US to approve new IMF governance
Bank of Mexico will run new oil fund
Central bank will be responsible for receiving, managing and distributing all income, excepting taxes, of the country’s oil and gas operations; will invest over ‘wider horizon’ than with past fund
Mexican deputy says 3% inflation target could be difficult
Manuel Sánchez, deputy governor of the Bank of Mexico, says the country’s inflation could remain above 3% and describes the target as 'difficult' and 'challenging'