Mexico's central bank cuts interest rate for 1st time in 3 years

STORY: Mexico's central bank cuts interest rate for 1st time in 3 years SHOOTING TIME: Archives DATELINE: March 22, 2024 LENGTH: 00:01:15 LOCATION: Mexico City CATEGORY: ECONOMY SHOTLIST: 1. aerial view of Mexico City 2. various of the banks in Mexico 3. various of banknotes STORYLINE: The Central Bank of Mexico (Banxico) on Thursday reduced its benchmark interest rate for the first time in three years. The benchmark interest rate was reduced by 0.25 percentage points to 11.0 percent, the central bank said in a statement. Banxico said it made the decision due to a disinflationary process in the country, despite the presence of upside risks. According to the most recent official data, headline inflation in Mexico was 4.40 percent year-on-year through February. The reduction came a year after Banxico's five-member board raised the benchmark rate to 11.25 percent. Xinhua News Agency correspondents reporting from Mexico City. (XHTV)

Mexico's inflation slows to 7.8 pct in November

STORY: Mexico's inflation slows to 7.8 pct in November DATELINE: Dec. 9, 2022 LENGTH: 00:01:31 LOCATION: Mexico City CATEGORY: ECONOMY SHOTLIST: 1. various of Mexico's central bank 2. various of commercial banks STORYLINE: Mexico's annual inflation rate slowed to 7.8 percent through November year on year, due to a decrease in the price of some foods and liquefied petroleum gas (LPG), the National Institute of Statistics and Geography (Inegi) said Thursday. According to Inegi's monthly report, the national consumer price index (CPI) rose 0.58 percent in November compared to the previous month. Core inflation, closely monitored by the central bank of Mexico (Banxico), stood at 8.51 percent through November, after registering a 0.45 percent increase for the month compared with October. The price of onions fell 23.59 percent in November compared to October, while the price of domestic LPG dropped 2.29 percent. In a report issued separately, Mexico's Monex Financial Group said the slowing in inflation to 7.

Mexico's central bank raises key interest rate for 11th straight time

STORY: Mexico's central bank raises key interest rate for 11th straight time DATELINE: Sept. 30, 2022 LENGTH: 00:01:31 LOCATION: Mexico City CATEGORY: ECONOMY SHOTLIST: 1. various of the central Bank of Mexico 2. various of Mexican commercial banks STORYLINE: The central Bank of Mexico (Banxico) decided on Thursday to raise the key benchmark interest rate for the eleventh straight time, amid fears of further effects from increasing inflation and uncertainty about the local economy. In a statement, the bank detailed that Banxico's five board members unanimously agreed to increase the target for the overnight interbank interest rate by 75 basis points to 9.25 percent. According to Banxico representatives, the balance of risks regarding the course of inflation "continues a considerable upward bias." The bank projected that inflation will close the year at 8.6 percent, higher than the 8.1 percent estimated in August and well above the official target of 3 percent; for 2023, it projected an inflatio