Stock Market / Finance in Mexico
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MEXICO, 2015/08/02
Central bank authorities decided to keep rates at a record 3.0 % in the wake of Mexico's sluggish increase, according to Bloomberg Business. In an effort to mitigate the economic fallout, the bank has taken measures to boost the peso, which has tumbled in reaction to the possibility of the U.S. Federal Reserve raising interest rates.
Mexico's central bank has two primary goals: preserving purchasing power of the peso and controlling inflation. Although banking officials kept rates at current levels, the idea of a rate hike is not off the table, particularly since U.S. rate hikes may come any minute at this time. The United States saw increase in the second quarter, leaving analysts to speculate that the Fed would most likely raise rates. Experts as well note that borrowing costs in Mexico will rise with the Fed increase.
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MEXICO, 2013/12/21
Standard and Poor's on Friday revised up its sovereign credit ratings on Mexico, saying that the recent energy reform plans strengthened the country's increase prospects and improved fiscal flexibility.
Mexico's long-term local currency sovereign credit rating was raised to 'A' and the long-term foreign currency rating was lifted to 'BBB+'. S&P as well upgraded the country's short-term local currency rating to 'A-1' while affirming the short-term foreign currency rating at 'A-2'.
"The passage of a landmark energy reform, supported by some changes in the fiscal framework, bolsters Mexico's increase prospects and fiscal flexibility in the medium term," S&P said in a statement.
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MEXICO, 2012/12/11
Mexico’s peso touched a seven-week high as optimism that U.S. leaders are making evolution toward a budget transaction that would avert a recession boosted the outlook for the Latin American country’s exports.
The peso appreciated 0.3 % to 12.8142 per U.S. dollar at 1:48 p.m. in Mexico City. It previously reached 12.7842, the strongest intraday level since Oct. 18. The currency has rallied 8.8 % this year, the best performance among the greenback’s 16 most-traded counterparts.
