Banxico's Diaz de Leon: Forex development is a risk for inflation, as is health of public finances


While speaking at an event in Mexico City, Mexican Central Bank Governor Alejandro Diaz de Leon said that the developments surrounding the Mexican peso's exchange rate was a risk for inflation as well as the health of public finances.

Key quotes (via Reuters)

  • There is considerable uncertainty about the economic outlook for Mexico.
  • Remittances are providing support for consumption.
  • There are still risks perceptible in development of core inflation.
  • We have had a firm monetary policy stance.
  • Ratings downgrades for Mexico and Pemex are risk factors and must be addressed.
  • The big challenge we face is to promote investment and productivity.
  • We have a financial system that is well capitalized and resilient.

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