Scaling Back Revenues

MEXICO - Report 29 Oct 2013 by Mauricio González and Ernesto Cervera
Executive Summary Banco de México announced Friday that it was lowering its target interbank lending rate by 25 basis points from 3.75% to 3.50%. The move, which was widely expected, was the central bank’s third rate cut year to date. In the statement accompanying the rate announcement, Banco de México said that inflation risk may prove lower than thought because economic activity in Mexico might fail to live up to current estimates. So while the central bank estimates that economic activity will continue to grow for the remainder of 2013 and next year, it also projects that the expansion w...

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