Banco de México Leaves Rates Unchanged at Record High 11.25%, Inflation Risks to Upside

The Mexican Central Bank, Banco de México kept interest rates at 11.25% at its June 2023 meeting, in a unanimous decision. The bank said guidance is to hold rate at 11.25% for a prolonged period. The bank still sees balance of risks for the trajectory of inflation within the forecast horizon is considered to be biased to the upside. The Central Bank continues to project that inflation will converge to the 3% target by the fourth quarter of 2024. Headline … Continue reading “Banco de México Leaves Rates Unchanged at Record High 11.25%, Inflation Risks to Upside”

Germany Population in 2022 Grew Largest Since Reunification, Led by Ukrainian Refugees

Germany’s population in 2022 grew by 1.12 million, or 1.3 percent, to 84.4 million. In 2021 the population grew just 0.1 percent. It was the largest annual surge in population numbers since Germany’s reunification of East and West over three decades ago. The surge was mainly due to increased pregnancy’s due to Covid lockdown and a notable influx of 1.46 million individuals through net immigration mainly caused by the arrival of refugees from Ukraine. Net migration was 329,000 in 2021. … Continue reading “Germany Population in 2022 Grew Largest Since Reunification, Led by Ukrainian Refugees”

Banco de México Raises Rates by 50 bps to Record High 11.00%, Reacts to Higher Inflation

The Mexican Central Bank, Banco de México raised interest rates by 50 basis points to 11.00% at its February 2022 meeting, higher than expected. It was the 14th consecutive rate hike, adding to the 700bps of rate increases since the start of the bank’s tightening cycle in June. The Bank was expected to rise by 25bps, however January inflation accelerated for the second straight month to 7.91% in January up from 7.82% in the prior month and higher than expectations. Five … Continue reading “Banco de México Raises Rates by 50 bps to Record High 11.00%, Reacts to Higher Inflation”

Banco de México Raises Rates by 50 bps to Record High 10.50%, Hints at More Hikes

The Mexican Central Bank, Banco de México raised interest rates by 50 basis points to 10.50% at its December 2022 meeting, as expected. It was the 13th consecutive rate hike, adding to the 650bps of rate increases since the start of the bank’s tightening cycle in June. The Bank signaled that future decisions will be dependent on up-to-date economic data available. with the bank saying headline and core inflation forecasts were revised upwards. Five of the six board members voted in … Continue reading “Banco de México Raises Rates by 50 bps to Record High 10.50%, Hints at More Hikes”

Banco de México Raises Rates Again with a Record 75 Basis Points to 7.75% to Tame Inflation

The Mexican Central Bank, Banco de México raised interest rates by 75 basis points to 7.75% with the bank saying headline and core inflation forecasts were revised upwards.  The bank said it would hike rates again and by as much necessary to tame inflation that has surged to double its target of 3%. Banco de México’s Governing Board decided to raise the target for the overnight interbank interest rate by 75 basis points to 7.75%, effective June 24, 2022. “For … Continue reading “Banco de México Raises Rates Again with a Record 75 Basis Points to 7.75% to Tame Inflation”

Banco de México Raises Rates Again with Inflation Risk to Mexican Economy

The Mexican Central Bank, Banco de México raised interest rates by 50 basis points to 7.00% with the bank saying headline and core inflation forecasts were revised upwards. One dissenter voted to hike by 75 bps. The Mexico central bank Governing Board increased the target for the overnight interbank interest rate by 50 basis points to 7.00%. The vote was not unanimous. Voting in favor of the decision were Victoria Rodríguez, Galia Borja, Gerardo Esquivel, and Jonathan Heath. Voting in … Continue reading “Banco de México Raises Rates Again with Inflation Risk to Mexican Economy”

Banco de México Raises Rates Again as Inflationary Pressures Greater and Lasted Longer Than Anticipated

The Mexican Central Bank, Banco de México raised interest rates by 50 basis points to 6.00% with the bank saying Inflationary pressures have been greater and have lasted longer than anticipated. Banco Central do Brasil​ again aggressively hiked its benchmark interest rate by 1.5% to 10.75% last week. The Mexico central bank Governing Board increased the target for the overnight interbank interest rate by 50 basis points to 6.00%. The vote was not unanimous, Voting in favor of the decision … Continue reading “Banco de México Raises Rates Again as Inflationary Pressures Greater and Lasted Longer Than Anticipated”