López Obrador announced that he will take advantage of his next visit to the United States to propose to President Biden “so that together, to the extent of our possibilities, we can carry out an anti-inflationary plan.”
He explained that there will be three actions: one related to energy, where Mexico is using surplus oil to subsidize gasoline; The second point has to do with promoting productive activity in the different regions of the country.
“Some programs that we already had for the countryside are being converted, for example, sowing life, we are planning to use it for basic crops, especially corn and beans.”
He recognized and thanked the department stores for the agreement so that the prices of a basic basket do not increase. “That’s working.”
I do not want to advance anything about the third point of the plan. “I already have the document and it will be favorable, it will help people in the United States and it will help our fellow Mexicans, here and there,” he said.
López Obrador, speaking of monetary policy, questioned the tactic of central banks to raise interest rates to contain inflation.
Banco de México (Banxico) raised its benchmark interest rate on Thursday for the ninth time in a row to 7.75% and warned that it intends to continue raising it and, if necessary, with “the same forcefulness”, amid a worsening of the inflation expectations.
“I respect the autonomy of the Bank of Mexico, but the technicians should already think of another formula, because they are not only the technicians of the Bank of Mexico, they are those of the Treasury (United States), of all the central banks of the world” , affirmed the president in his usual morning press conference.
With information from Reuters
