The Mexican central bank's surprise interest rate cut on Thursday is likely...
MEXICO CITY - The Mexican central bank’s surprise interest rate cut on Thursday is likely to have a limited impact at best on lifting growth this year after the sluggish economy narrowly avoided recession in the first half of 2019, analysts say.
“Whatever we do now on the monetary policy front doesn’t work for this year in terms of growth,” said Sergio Kurczyn, a senior economist at bank Citibanamex. “It can work on inflation, exchange rates, but on growth it’s no use.” Since the start of the year, the median forecast for 2019 Mexican growth in Banxico’s monthly poll of private sector economists has fallen steadily, and now stands at 0.8% - less than half the expansion predicted at the end of last year.
“Maybe if Banxico lowers it 200 basis points, there might be a difference. Credit card rates could be back at 18%,” said James Salazar, an analyst at CI Banco. Asked in an interview with Reuters whether the rate cut would help boost growth, Bank of Mexico Governor Alejandro Diaz de Leon avoided making such a link.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Core inflation a stiff 'challenge' in Mexico as economy faces growing risksReducing Mexico's stubborn core inflation, running at 3.8 percent, is a cha...
Baca lebih lajut »
Mexico central bank governor says core inflation a 'challenge'Mexican central bank Governor Alejandro Diaz de Leon sees core inflation as a &...
Baca lebih lajut »
Mexico to penalize creators of TV series seen as 'dirty campaign' against presidentMexico's top electoral court said on Wednesday it would penalize the creato...
Baca lebih lajut »
Court: US can reject asylum along parts of Mexico borderHOUSTON (AP) — A federal appeals court's ruling Friday will allow the Trump administration to begin rejecting asylum at some parts of the U.S.-Mexico border for migrants who arrive after passing...
Baca lebih lajut »
For Mexico, Drugs And Crime Erasing Free Trade GainsRemember when Nafta was supposed to lift Mexican's up out of poverty?
Baca lebih lajut »
A Destination Wedding in Valladolid, MexicoThis Filipino couple that lives in Australia had a golden-toned wedding in Valladolid, Mexico that included a parade through town, tequila shots, and a highly-photographed chicken mole
Baca lebih lajut »