Reducing Mexico's stubborn core inflation, running at 3.8 percent, is a cha...
MEXICO CITY - Reducing Mexico’s stubborn core inflation, running at 3.8 percent, is a challenge for the central bank, its governor told Reuters on Thursday, after it cut its key lending rate for the first time since June 2014.
“We will pay attention to new information and uncertainty over the coming weeks before evaluating monetary policy actions,” said Alejandro Diaz de Leon, governor of the central bank since late 2017. However, Banxico noted in its monetary policy statement that while headline inflation was declining, core inflation, which strips out some volatile food and energy prices, has remained persistent around 3.8%.
“All these trade tensions have led to a tendency of decelerating economic , with an expectation of lower inflationary pressures globally...even reduced monetary policy in various cases in an environment of episodes of volatility,” said Diaz de Leon.
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