Category: Mexico

Mexican central bankers dropped from their monthly policy statement a sentence saying the country’s interest rates should follow rising US rates, which some interpret as a signal they’re done raising rates after 12 increases in 14 months. The central bank has raised its benchmark lending rate to 9.75 percent to drive inflation down to its 3 percent annual target. Inflation in May was 4.6 percent. Expectations of lower interest rates have increased demand for Mexico’s fixed-rate bonds; the yield on Mexico’s peso-denominated note due in 2014 has been below the overnight lending rate since June 8.

is confirmed as a panelist at LatinFinance’s Inaugural Cumbre Financiera Mexicana, July 13-14, in Mexico City. Debate and discuss the challenges and opportunities presented by Mexico’s dynamic financial markets at this invitation-only event. View the full agenda and apply for an invitation at www.latinfinance.com/mexicana

Mexico’s exports rose 13 percent year-on-year in May to $18.31 billion on decelerating demand from the US, which buys 85 percent of Mexico’s exports. Exports were up 18 percent year-on-year in April. Mexico’s GDP grew 2.4 percent in the first quarter, down from 4.9 percent in the fourth quarter of 2004.

are confirmed as panelists at LatinFinance’s Inaugural Cumbre Financiera Mexicana, July 13-14, in Mexico City. Debate and discuss the challenges and opportunities presented by Mexico’s dynamic financial markets at this invitation-only event. View the full agenda and apply for an invitation at www.latinfinance.com/mexicana

Petroleos Mexicanos, Mexico’s state-run oil company, has suspended drilling contracts with private companies at the request of a congressional auditor. Pemex Chief Financial Officer Juan Jose Suarez said the auditor requested the contracts be suspended until Congress can pass legislation specifically allowing such deals.

are confirmed as panelists at LatinFinance’s Inaugural Cumbre Financiera Mexicana, July 13-14, in Mexico City. Debate and discuss the challenges and opportunities presented by Mexico’s dynamic financial markets at this invitation-only event. View the full agenda and apply for an invitation at www.latinfinance.com/mexicana

Mexican retail sales rose unexpectedly to 8.9 percent year-on-year in April, more than double the 4.4 percent rise in March. Mexico’s central bank has raised its benchmark interest rate 12 of the last 15 months to 9.75 percent. The country’s inflation rate was 3.4 percent in May, the lowest rate since the bank began calculating the index in 1983.

are confirmed as panelists at LatinFinance’s Inaugural Cumbre Financiera Mexicana, July 13-14, in Mexico City. Debate and discuss the challenges and opportunities presented by Mexico’s dynamic financial markets at this invitation-only event. View the full agenda and apply for an invitation at www.latinfinance.com/mexicana.

are confirmed as panelists at LatinFinance’s Inaugural Cumbre Financiera Mexicana, July 13-14, in Mexico City. Debate and discuss the challenges and opportunities presented by Mexico’s dynamic financial markets at this invitation-only event. View the full agenda and apply for an invitation at www.latinfinance.com/mexicana.

Mexico’s Supreme Court ruled 3 to 2 that prosecutors can bring genocide charges against former President Luis Echeverria related to a 1971 massacre of student activists. The court said the statute of limitations on the alleged crime haven’t expired, overturning a federal judge’s ruling year that blocked prosecutors from charging Echeverria and his interior minister, Mario Moya. The court said the 30-year time limit on genocide charges began counting as of December 1, 1976 when Echeverria and Moya left office.