Economy & Finance
The U.S. Federal Reserve's scaling-back of its bond-buying program
is good for Mexico, its finance minister told CNBC on Monday — despite
the country being hit by the ongoing emerging market sell-off.
Reuters - Mexican factory exports dipped in December in a sign of wavering U.S. appetite for local goods that could undermine an economic recovery, while a drop in consumer imports pointed to weaker domestic demand.
Bloomberg - Mexico’s Finance Minister Luis Videgaray said there is no need to support the peso, which has fallen to its weakest in 18 months, because the market remains sufficiently liquid. Mexico’s currency has slumped 3.7 percent against the dollar since the start of the year.
Channel News Asia - Some say the so-called "MINT" nations, comprising Mexico, Indonesia, Nigeria and Turkey, are the world's new powerhouses. Channel NewsAsia takes a look at the Mexican and Indonesian economy to see if they can live up to the hype.
Reuters - Mexican annual inflation rose in early January at its fastest pace since May due to an uptick in soda and gasoline prices after a fiscal reform, but the central bank has said it expects the spike to be temporary. Inflation for the 12 months through the first half of
January rose to 4.63 percent.
EFE - Mexico's foreign reserves dropped by $59 million last week to $176.47 billion, the Bank of Mexico said in a statement. Foreign reserves declined by $55 million from Dec. 31, 2013, to Jan. 17. The decline in reserves last week was mainly caused by a change in the value of foreign assets held by the central bank.
International Business Times - As the controversial tax reform starts working its way into Mexican society, one of the most unpopular measures which targets sugary drinks and junk food has already produced a consequence that supporters probably did not foresee: a black market for junk food.
NYT - President Enrique Peña Nieto, in what could be the biggest economic change in two decades, is on the verge of rewriting the constitution to open Mexico’s oil, gas and electricity industry to private investment — a provocative move that could shake up the North American energy industry and test the storied grip Mexico’s oil has had on its soul.
Reuters - Mexican inflation picked up less than expected in November on a spike in fresh food and electricity costs and muted underlying price pressures boded for steady borrowing costs through next year. Inflation in the 12 months through November rose to 3.62 percent.
Reuters - Giant Mexican telco America Movil and broadcaster Televisa, the two companies likely to be most affected by the country's telecoms reform, said on Thursday the regulator has told them it was determining whether they are dominant players in the sector.