Reuters reveals that Banco de México is nearing the end of the rate hike cycle, foresees an economic cost, says a member of the board

By yokepost-support on June 26, 2023

Economy : Banco de México board member Gerardo Esquivel

Reuters was first to report Banco de México board member Gerardo Esquivel warned against raising the policy rate to “overly” restrictive levels as the economy remains weak, saying the bank’s current rate-hike cycle could end with rates between 10% and 10.25%. Esquivel did not project when the rate would reach what he called his terminal level in an interview with Reuters.

Themes of interest: Economy
Guy: Best of Reuters
Sectors: Currencies and Fixed Income
Regions: South America
Countries: Mexico
Types of wins: Exclusiveness
Types of stories: Exclusive / Scoop
Media Types: Text
Impact on the client: important world history