Economy & Finance

Economy & Finance

Central Bank cuts GDP growth forecast for 2014

WSJ - In a setback for the government of President Enrique Peña Nieto, Mexico's central bank on Wednesday slashed its economic-growth forecast for this year after weak activity during the first quarter.

Congress moves to remove logjam on reforms

Reuters - Mexico's Congress will convene for a special session from today, Wednesday, to approve a pending electoral reform, which should ease a legislative logjam hampering passage of bills to implement major economic reforms.

Economists cut Mexico GDP forecast to 3%

WSJ -Economists polled in April by the Bank of Mexico lowered their estimate for Mexico's economic growth this year to 3% from 3.1% the previous month, a third consecutive reduction in the forecast after a sluggish start to the year.

First quarter fiscal deficit totals $4.73 billion

Reuters - Mexico's public sector ran a fiscal deficit of 61.9 billion pesos ($4.73 billion) during the first quarter of 2014. During the same three-month period last year, the government ran a surplus of 40.2 billion pesos.

Mexico's foreign reserves rise by $503 million

EFE - Mexico's foreign reserves rose by $503 million last week to $184.01 billion, the Bank of Mexico said. Gold and foreign currency reserves grew in the week ending April 25.

Consumer prices fall most since last May

Bloomberg - Mexican consumer prices fell by the most in 11 months in early April as fruit and vegetable costs declined, with the inflation rate falling to its lowest level since October.

Inflation seen cooling further in early April

Reuters - Mexican annual inflation likely eased further in early April, backing expectations that policymakers will leave interest rates on hold this year to bolster a wobbly economic recovery.

Report says Mexico agribusiness faces challenges

CVBT - Mexico’s economic growth is gradually improving, but sector-specific challenges will continue to affect agribusiness, says a new report from Rabobank, a unit of Rabobank Group of Utrecht, The Netherlands.

Mexico prepares first drug financing blacklist

CBC - Mexico is preparing to implement new regulations that will allow the government to identify individuals and businesses linked to drug trafficking and ban financial firms from doing business with them.

Mexico's inflation rate edges higher in March

EFE - Mexico's consumer price index rose 0.27 percent in March, compared to the previous month, pushing the inflation rate over the past 12 months to 3.76 percent, the National Institute of Statistics and Geography said.

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