Economy & Finance

Economy & Finance

Fed uncertainty seen keeping Bank of Mexico on hold

Fox News Latino - The Bank of Mexico might be tempted to cut interest rates this week after the economy took a turn for the worse and inflation slowed, but consensus is that the specter of Fed “tapering” will keep policy makers on hold.

Consumer confidence rises for 2nd month in August

Reuters - Mexican consumer confidence rose for the second month in a row in August, when adjusted for seasonal factors, the national statistics agency said on Wednesday.

Consumer prices rise more than expected

Bloomberg - Mexican consumer prices rose more than expected in early August, pushing the annual inflation rate higher. Prices climbed 0.26 percent in the first two weeks of the month, compared with the 0.16 percent median forecast of 16 economists.

Economy grows less than expected

Bloomberg - Mexico’s economy grew less than forecast by any of the analysts surveyed by Bloomberg in the second quarter as industrial production declined on a sluggish U.S. recovery. Gross domestic product expanded 1.5 percent from the year earlier.

2012 economy grew 3.8% under new methodology

Reuters - Mexico's economy grew 3.8 percent in 2012, versus an original reading of 3.9 percent, the national statistics agency said on Tuesday, using a new methodology that changed the base year.

Pena Nieto plans strategy for Asia-Pacific region

EFE- President Enrique Peña Nieto plans to consolidate the "strategy of moving closer to countries in the Asia-Pacific region" before completing his first year in office, allowing Mexico to expand trade and investment.

China, Mexico vow to boost bilateral partnership

Xinhua - Chinese State Councilor Yang Jiechi met with a delegation of Mexican ministers, vowing to boost bilateral partnership. Yang said China attaches great importance to the development of friendly and mutually beneficial cooperation with Mexico.

Fight over ex-president marks oil reform debate

AP - The son of Mexico's most revered president, known for nationalizing the oil industry, says his dad is rolling in his grave. In fact, both sides in the debate over opening Mexico's oil industry are using the image of former president Lazaro Cardenas.

Pemex to pay income tax on exploration, drilling

Reuters - State oil monopoly Pemex would pay income tax on exploration and extraction of oil and gas under new fiscal rules in the government's proposed energy sector overhaul, Finance Minister Luis Videgaray said in a newspaper column on Thursday.

Some investors are skeptical of energy proposal

Reuters - After President Enrique Pena Nieto proposed his overhaul of Mexico's energy industry to offer private companies profit-sharing contracts, some investors said it might be too cautious and some sold Mexican assets.

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