Bank of Mexico (Banxico)
Mexico inflation could be affected by exchange rate and US events
Mexico’s board to closely monitor exchange rate pass-through on consumer prices, quarterly review says; outcome of US election and the normalisation of the Fed's interest rate also a concern
Monetary expansion: Is the sky the limit?
Unconventional monetary policies in advanced countries have resulted in benefits and costs for the global economy and financial markets. Manuel Sánchez assesses if the benefits are worth the risks.
Mexican deputy calls for reinforced ‘global financial safety net’
Javier Guzmán Calafell sees IMF as key player in maintaining global financial stability, but says it needs more resources, tools and legitimacy
Mexico hikes rates to stabilise peso depreciation
Bank of Mexico surprises markets with 50bp hike to stem currency depreciation; analysts see global risk factors contributing to exchange rate developments
IMF approves larger credit line to Mexico
Fund expands flexible credit line arrangement to $88 billion; confident Mexico's policies "will remain strong"
Mexican deputy Sánchez takes stock of easy policy in advanced economies
Manuel Sánchez explains how extraordinary monetary accommodation may be generating costs; tells audience in Mexico central bank policy co-ordination is a challenge
Bank of Mexico to send government 239 billion pesos on back of reserve gains
Some 70% of surplus to be used to pay off outstanding government debt or reduce new issuance, while the remaining money will be used to support stabilisation fund
Mexican deputy calls for ‘proper consideration’ of peers
Mexican deputy stresses need for improved policy communication between advanced economies and emerging markets
External conditions move Bank of Mexico to lower growth forecasts
Central bank cuts growth forecasts for 2016/2017 by half a percentage point; global slowdown starting to have larger impact
Mexico’s stress tests reveal some institutions remain ‘vulnerable’ in extreme scenarios
Stress tests indicate that even in adverse scenarios banking sector remains sound; some banks and investment funds are vulnerable to extreme scenarios, including interest rate adjustments
Peso depreciation casts shadow over Mexico rate decision
Central bank adamant it is not in a hiking cycle after 50bp rise; government taking steps to enforce measures on Pemex
IMF paper questions ‘visceral opposition’ to inflow controls
Guilty by association: controls on capital inflows “inextricably” linked to those on outflows, paper says; controls not “worse” or “costlier” than other policy tools
Mexico to ‘persevere’ in strengthening macroeconomic framework, bank deputy says
Deputy governor says effect of further normalisation in US policy ‘unclear’; Mexico to continue strengthening financial system
LatAm response to Fed sees two hikes
Mexico and Chile both raise rates by 25bp in the wake of the Fed decision, with currencies remaining relatively stable in the aftermath
Dynamics and volatility of capital flows a concern, says Mexican deputy
Manuel Ramos-Francia says EM policy-makers are concerned not only with the size of capital outflows, but also the dynamics of those flows, at conference hosted by Bank of Mexico
Mexican paper sees need for ‘combination’ of policies to reduce informal labour
Measures to reduce entry barriers to and relative value of formal labour could be in order, working paper published by Bank of Mexico finds
Mexico should ‘phase out’ daily FX sales, IMF staff say
Staff at IMF find interventions have ‘contributed to stability’ in the foreign exchange market, while a report following Article IV consultations recommends moving away from daily auctions
Mexican governor granted second term on board
Carstens set for reappointment as governor after securing second term on board; his first term is widely viewed as a success, with one economist highlighting stable inflation
Mexican board split on July rate decision
Minutes from the July 30 board meeting show three board members voted to hold the key rate at 3%, with one member favouring a 25bp hike and another absent
Bank of Mexico moves policy decisions after Fed meetings
Mexican central bank delays remaining policy decisions so they fall a few days after FOMC announcements; wants to be able to react to rate hike ‘in a timely manner’
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