Reuters - Mexico's Central Bank Gov. Agustin Carstens said on Wednesday currency markets are working well and the country's peso will firm following its steep losses. "The market is functioning well," he told reporters.
Sentido Comun - Mexico's economic activity, as measured by the Global Indicator of Economic Activity or IGAE, rose 0.9 percent in seasonally adjusted terms in July against June, a rebound from the setback of 0.2 percent in June.
Dow Jones - Mexico's foreign exchange markets are functioning well and the country remains committed to a free float in the peso even in the midst of the current turmoil in global markets, Finance Minister Jose Antonio Meade said in an interview Saturday.
Bloomberg - Mexico’s central bank might cut its benchmark lending rate before year-end, Morgan Stanley said, joining six banks in projecting a monetary easing. Banxico already opened the door for a rate cut at its last monetary policy meeting.
Bloomberg - Mexico’s high level of international reserves make it deserving of an upgrade from credit ratings agencies, central bank Governor Agustin Carstens said during a conference hosted by Moody’s Investors Service in Mexico City.
Reuters - Mexico's credit rating can withstand an economic downturn but the country will not earn an uptick without deep structural reforms to stoke growth, Moody's Investors Service said on Wednesday.
Sentido Comun - Economists in the Bank of Mexico's monthly report for the third time lowered their forecast of economic growth this year and for the sixth time predicted that inflation will rise.
Dow Jones - Mexico registered a $2.6 billion current account deficit in the second quarter of the year as a trade surplus and increase in remittances were offset by deficits in areas such as services, interest payments abroad and repatriation of profits.
McClatchy Newspapers - Public security analysts say a view has spread among some Mexicans that President Felipe Calderon is soft on the Sinaloa Cartel. And now a court filing by an accused kingpin in U.S. federal court has suggested the U.S. is, too.
Dow Jones - The Bank of Mexico is expected to keep its overnight lending rate target at 4.5 percent until October 2012 as inflation remains steady and economic growth slows, according to the latest biweekly survey of banks by Citigroup unit Banamex.