Published on Friday, February 19, 2016 | Updated on Saturday, February 20, 2016
Mexico Weekly | Positive differentiation of the peso despite the drop in oil prices
Summary
Banxico increased unexpectedly, and in an extraordinary session, the fondeo rate by 50bp. The Exchange Rate Commission suspended the auctions with minimum price and did not rule out to intervene in a discretionary way in the exchange rate market. The Ministry of Finance announced a further cut spending in 2016 of around 0.7% of GDP
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Authors
JA
Javier Amador
BBVA Research - Principal Economist
IM
Iván Martínez Urquijo
BBVA Research - Senior Economist
FM
Francisco Javier Morales
CS
Carlos Serrano
BBVA Research - Chief Economist