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CHINA PBOC CONDUCTS CNY235.1 BILLION VIA 7-DAY REVERSE REPOS THURS

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Herrera Convinced Banxico Must Have Sole Mandate

MEXICO
  • Arturo Herrera, whom President AMLO has favoured to succeed Governor Leon at the end of the year, said efforts by central banks to foster growth can be a mistake in emerging markets.
    • "I am convinced that a central bank like Mexico must have a sole mandate," Herrera told El Pais. "It has not been sufficiently understood that reaching stable inflation also indirectly helps growth."
  • PEMEX - A massive fire from a gas leak in the Gulf of Mexico has been extinguished after a five-hour-long operation, informed Mexican state oil company Pemex. No injuries were reported and production from the oil platform in the vicinity was unaffected, the company mentioned.
  • Mexico's heavy industry has become a mainstay of a new trend in emerging markets, the sale of sustainability-linked bonds, as some of the country's largest polluters try to clean up their act and avoid allegations of greenwashing. (BBG)
    • "We believe that it helped us to tap into a broader universe of investors and, ultimately, to secure more attractive terms than we might have otherwise," Nemak chief executive officer Armando Tamez said in an interview.
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