While speaking at an event in Mexico City, Mexican Central Bank Governor Alejandro Diaz de Leon said that the developments surrounding the Mexican peso’s exchange rate was a risk for inflation as well as the health of public finances.
Key quotes (via Reuters)
- There is considerable uncertainty about the economic outlook for Mexico.
- Remittances are providing support for consumption.
- There are still risks perceptible in development of core inflation.
- We have had a firm monetary policy stance.
- Ratings downgrades for Mexico and Pemex are risk factors and must be addressed.
- The big challenge we face is to promote investment and productivity.
- We have a financial system that is well capitalized and resilient.
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