Gerardo Esquivel rules out Banxico raising its rate by 75 basis points

Gerardo Esquivel rules out Banxico raising its rate by 75 basis points

The economist ruled out that there is a movement in the rate of 75 base points and said that there were wrong readings of the monetary policy statement, where it was said that they would be more forceful.

“It is not something that is going to happen, there are people who read it as if it is going to happen, but it is a mistaken vision. The idea is that it is not out of the question,” he said.

Esquivel said that the members of the Central Bank’s Governing Board will continue to monitor the movements of the Federal Reserve (Fed) and the effect of the Package against Inflation and Scarcity (PACIC).

“(PACIC) could contribute in some dimension, it is not going to be the solution,” he added.

Esquivel said that collaboration between the central bank and the government is important and that inflation is within reasonable ranges.

“It’s not out of control (inflation) and it’s important that people understand that.”

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