LatAm Daily | Among other measures, Mexico surprisingly increases MPR by 50 bp

Summary

In a joint announcement, Banxico and the Mexican Ministry of Finance adopted fiscal, monetary and exchange rate measures to limit risk to the economy. Among the measures are a 50bp increase in MPR, and a cut in expenditure. S&P has downgraded Brazil’s sovereign rating to BB in a year with significant economic challenges ahead. Further downgrades are likely in the future.

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