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Banxico Dep. Gov Espinosa Says Policy Needs To Stay Restrictive

MEXICO
  • Banxico needs to maintain its tight monetary stance for the coming months as inflation expectations have continued to rise recently, deputy Governor Irene Espinosa said at a panel in Washington on Monday.
    • “We still have inside of inflation a lot of inertia” Espinosa said on a panel adding that “those are hard decisions especially if we take into account the financial tightening in global markets and how this can affect emerging markets like us.”
    • She described the Mexican peso as “outstanding in terms of resilience,” thanks to “prudent fiscal policy”.
  • President AMLO named Antonio Martinez Dagnino to head the country’s tax administration service SAT, according to a Finance Ministry statement. Martinez previously led general administration of large taxpayers, according to the statement.
  • Officials and business executives from start-ups and energy companies will meet at the Latam Mobility Summit conference on sustainable transportation. Event starts at 8am local time.
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