April 9, 2021
Mexico latest publications
Consumption growth sharply accelerated during March compared with last year lockdowns, this increasing growth rates are observed across all countries and sectors.
The U.S. economy is beginning a strong expansionary cycle. The International Monetary Fund (IMF) this week adjusted its growth forecast for this country to 6.4% for 2021 and there are private analysts who forecast even higher rates.
Total credit granted to the non-financial private sector remains weak. It dropped again in January and was widespread across the country according to regional data as of 4Q20. Total deposits remained strong in annual terms in spite of a seasonal drop at the beginning of the year.
Remittances to several countries in Latin America and the Caribbean grew at double digits during the month of February 2021: Mexico (+ 16.2% in USD), Guatemala (+ 16.7%), El Salvador (+ 13.0%), Dominican Republic (+ 27.6%) and Colombia (15.4%).
March 26, 2021
Mexico | Banking deposits: better than expected in January in spite of a seasonal drop
The month of January is usually a weak one in terms of banking deposits as a consequence of the payment of year-end related expenses, the seasonal unemployment and the rise of some prices. In spite of this, banking deposits showed resilience.
Banxico’s Board kept its policy rate unchanged at 4.0%; the wording signals a shift from a dovish to a cautious tone. All five Board members voted to keep the policy rate on hold.
March 25, 2021
Mexico | Corporate social responsibility isn't incompatible w/maximizing shareholder value
Fifty years ago, Milton Friedman wrote a column in The New York Times that had a significant influence over several decades. Friedman's central thesis was that the sole social responsibility of companies should be to maximize shareholder profits.
We are changing our call for tomorrow’s MPC decision to pause following today’s unexpected strong core inflation print. Core inflation rose strongly, to 4.1%, in the first half of March.