Friday, March 4, 2011

Mexico Central Bank Holds Rate at 4.50%

Banco de Mexico maintained the overnight interest-rate target at 4.50%, however the Bank cited rising agricultural commodity prices and tensions in the middle east as increasing upside inflation risk and rising uncertainty. Mexico saw inflation of 3.78% in January, versus 4.4% in December, which was above the central bank's 3% official inflation target. The Mexican economy grew 4.6% year-on-year in Q4 2010, compared to 5.3% growth in the third quarter.


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