Mexico, close to reaching highest inflation point

The Governor of the Bank of Mexico assured that the “monetary policy has a delayed effect on inflation”
Photo: File photo/EL UNIVERSAL
14/07/2017
15:18
Leonor Flores
-A +A

The governor of the Bank of Mexico (Banxico), Agustín Carstens, said that inflation is close to reaching its highest point, so he will remain vigilant to take action, but will not respond in a "mechanistic" way, rather based on careful analysis.

"I think we are not far from seeing the highest level of inflation and entering a clear downward inflation trend," he said.

They will observe all the determinants of inflation to act in the appropriate direction but based on up-to-date information, for it is very likely that it has already reached its maximum.

He commented that monetary policy has a delayed effect on inflation, and as mentioned in the latest monetary policy statement, the rate level we have today is likely to be congruent with the convergence of 3%.

"What we anticipate is that this convergence will continue and accelerate at the beginning of next year," he said.

mr

 

Mantente al día con el boletín de El Universal