Banxico’s minute of meeting of the Governing Board
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Mexico
Mexico’s Economy Q2, 2020
The fall of the economy during the second quarter of the year was 18.7% a figure never seen before (in 1932 there were no quarterly measurements, but the yearly negative growth was 14%). There was no containment plan, so the blow went straight to businesses and homes. The former endured what they could, but they …
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Mexico on the Verge of the Perfect Storm.
Photo by Michael Rogers at Unsplash Mexico on the Verge of the Perfect Storm Contrary to the official view, the worst is not over. As a matter of fact, it is about to begin. Springtime arrived, and with it, the effects of a lockdown caused by a tiny virus. Whole industries shut down, leaving …
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The economic impacts of the pandemic in Mexico
Gerardo Esquivel vice-governor, Banxico This document available in Spanish so far, basically states that in the second quarter the Mexican economy fell between 19% and 20%. and forecasts that the third quarter will be better with a negative growth of between -8% to -12%, and …
Prices rise 0.30% biweekly and 2.83% annually
In the first fifteen days of May, the National Consumer Price Index (INPC) increased 0.30 percent compared to the previous fortnight and annual inflation was 2.83 percent, according to figures from the National Institute of Statistics and Geography (Inegi). The variation of the first half …
USD/MXN Overview
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Economic Policy in times of Coronavirus, two approaches
Economic policy in times of Coronavirus, two approaches It is interesting to observe in a graph the correlation between the deluge of money released by the Federal Reserve Board since March, and its effect on the S&P 500 index. The moment the funds start to flow, the direction of the curve reverses its course …
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Greenpeace achieved a definitive suspension against the Sener’s energy policy that stops renewable energy
Greenpeace achieved a definitive suspension against the Sener’s energy policy that stops renewable energy The environmental organization and Cemda used the facilities of the CFE’s Tula Thermoelectric Power Plant in their protection to show the contamination produced by generating electricity based on fuel oil The …
Mexico’s GDP falls in 1Q of 2020
GDP fell 1.6% in 4Q of 2019 causing a -0.3 yearly growth. In the first quarter of 2020 the rate of growth was negative on a year to year basis -2.2%. The Central Bank changed its forecast for 2020, from .5% to 1.5%, to -4.6% …