Economy & Finance
Mexico grows less than forecast in 1st quarter
Bloomberg - Mexico’s economy grew less than analysts expected in the first quarter, fueling bets policy makers will cut interest rates again this year. Gross domestic product in the first three months of the year rose 0.8 percent from the year-ago period.
Majority of states approve telecom, media reforms
Bloomberg - A Mexican law to boost competition in telecom and media gained approval from a majority of state legislatures, surmounting its final hurdle for passage. “It’s a historic day for Mexico,” Jose Ignacio Peralta, deputy communications minister, said.
www.bloomberg.com/news/2013-05-14/majority-of-mexico-states-approve-telecom-bill-official-says.html
Mexico rate decisions to weigh stance elsewhere
Bloomberg - Mexican central bank policymakers, who cut the benchmark rate this year for the first time since 2009, said they will take into account the lax monetary policies being carried out in other countries in future decisions.
Banking reform bill presented to boost growth
Financial Times - Mexico’s centrist government announced it would send a financial reform bill to Congress that seeks to boost economic growth by making it easier and cheaper for companies to access credit.
www.ft.com/intl/cms/s/0/49d8891c-b823-11e2-bd62-00144feabdc0.html#axzz2SnzSZHX5
Carstens says Mexico seeking capital inflows
Reuters - Mexico's central bank governor Agustin Carstens said Latin America's No. 2 economy was witnessing significant capital inflows despite a March interest rate cut. The bank cut the benchmark rate by 50 basis points to a record low of 4 percent in March.
www.reuters.com/article/2013/05/08/mexico-carstens-idUSE1N0BP00C20130508
Can Mexico dismantle its monopolies?
Smart Planet - Mexico has been enjoying a buzz of investor optimism. All of this hubbub has helped steer the country’s narrative from drug violence to economic opportunity. Yet Mexico has failed to live up to its full potential before. So what’s changed?
www.smartplanet.com/blog/global-observer/can-mexico-dismantle-its-monopolies/11337
Carstens says price shocks transitory, inflation to slow
Reuters - Recent Mexican price shocks are transitory, expectations are well anchored and inflation should fall below 4 percent relatively quickly, Mexico's Central Bank Governor Agustin Carstens said on Tuesday.
www.reuters.com/article/2013/05/07/mexico-economy-idUSL2N0DO1IK20130507
Talks on Pact for Mexico yield some results
Excelsior - The political parties negotiating the Mexico Pact have agreed upon a measure that would prohibit the electoral use of public resources, which is prompting further dialogue between the federal government and opposition political parties.
International reserves reach $168.14 billion
Sentido Comun - International reserves last week reached a new record of $168.14 billion dollars after a $1.009 million increase over the previous week. The increase was primarily due to the sale of dollars by Pemex to the Bank of Mexico.
Mexico aims to overhaul tax system, raise revenue
Reuters - Tax breaks for attending “civic values” courses, tax-free sales of second-hand furniture, special treatment for call centres and an informal economy employing six out of 10 workers are all in the line of fire as Mexico prepares a long-awaited tax overhaul.
