ZCZC
BCN-09
MEXICO-CENTRAL-BANK-SURVEY
Mexican central bank survey raises 2018 forecasted inflation rate
MEXICO CITY, Dec. 15 (BSS/Xinhua) — Mexico’s forecasted inflation rate at
the end of 2018 was raised to 4.68 percent from a previous forecast of 4.55
percent, according to a survey released Friday by the Central Bank of Mexico
(Banxico).
Such a forecast surpassed the permanent inflation target of 3 percent
Banxico has set with a differential of one percentage point above or below
that figure.
Meanwhile, the survey, carried out on Dec. 3-11, left the forecasted
economic growth rate unchanged for this year.
According to previous forecasts from Banxico, the Mexican economy, the
second largest in Latin America behind Brazil, could register economic growth
between 2 and 2.6 percent this year.
However, the survey carried out among 32 groups of analysts reduced the
forecasted growth of Mexico’s gross domestic product for 2019 to 1.8 percent
from a previous forecast of 1.90 percent.
In regard to the benchmark interest rate, the survey estimated that the
cost of credit would be at 8.25 percent by the end of this year and will
remain so until 2019.
On Nov. 15, Banxico’s Governing Board decided to raise the overnight
interbank interest rate by 25 basis points, leaving it at 8 percent, the
highest level in a decade.
BSS/XINHUA/SR/1920 HRS