MEXICO CITY, March 22 (Reuters) – Mexican’s latest inflation information introduced “some excellent news,” however the nation remained in a fancy and unsure atmosphere going ahead, central financial institution deputy governor Irene Espinosa mentioned in an interview on Wednesday.
Mexico’s core shopper costs slowed greater than anticipated to eight.29% within the 12 months to February, information from nationwide statistics company INEGI confirmed, offering some respite because the Latin American nation continued to take care of excessive inflation and rates of interest.
The central financial institution’s most important concern was core inflation, Espinosa advised Bloomberg TV in an interview.
Requested whether or not the central financial institution, also called Banxico, would think about a smaller rate of interest hike than its 50 basis-point rise to 11.00% final month, Espinosa mentioned “sure” however expressed warning because of the unsure atmosphere.
Inflation nonetheless stays above Banxico’s goal of three% plus or minus one proportion level.
Espinosa mentioned the financial institution’s board would have in mind the U.S. Federal Reserve’s financial coverage resolution which was prone to be a price hike.
The Mexican peso’s power in latest months towards the U.S. greenback confirmed its “resilience” and Mexico’s “prudence by way of macroeconomic framework” and financial coverage, she mentioned.
The Mexican peso strengthened barely in morning buying and selling to 18.56 pesos per greenback.
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Reporting by Kylie Madry; Modifying by Sarah Morland and Bernadette Baum
