After the last decision of monetary politicsthe additional data observed in inflation, both general and underlyingare below what was expected by the Bank of Mexico, said Governor Victoria Rodríguez Ceja.
In interview with El Financial TVrecognized that the panorama continues to be complex and uncertain at a global level, but that Mexico is in a very different situation, compared to other financial crises.
“In any case, I reiterate that we will be very attentive so that, if necessary, which at this moment we do not see, make the corresponding decisions and act in a timely manner”, he commented in the framework of the 86th edition of the Banking Convention.
“Going forward we are planning to consider the inflationary outlook once more,” he stressed.
Regarding the interest rate of the Federal Reserve, Rodríguez explained that analysts considered that the Bank of Mexico was “following” that variable, but with the latest monetary policy decision it was observed that this is not the case.
“We had discussed it, but it seems to me that now This vision was clearly communicatedthen going forward we will be considering the inflationary panorama, but also, and I would like to emphasize it, the position that we have already reached”, he pointed out.
Is Banxico concerned regarding the banking crisis in the US?
About the concern regarding possible contagion effects in Mexico due to the bankruptcies of banks in the US, the economist commented that these have already been “contained”.
“We know that they are regional banks, they are not systemic banks; who were in a very particular situation, focused on a very specific sector, with very particular characteristics, where there is no direct relationship with the Mexican financial system”, he explained.
The governor highlighted that Mexico now has solid macroeconomic fundamentals in a better situation than other emerging economies.
“Of course, the actions of the monetary policy by the Bank of Mexico also contribute to this stability that we are observing,” he stressed.
Satisfied with the actions of Banxico
15 months following heading the Governing Board of Banxico and be the first woman to do itVictoria Rodríguez said she was satisfied and happy with the responsibility projected by the organization in its decisions to face high inflation.
“I have been completely dedicated to addressing what we have been facing. I feel satisfied with the actions that we have had in the institution, being responsible for the fulfillment of our mandate, ”she emphasized.
Regardless of gender, he assured that heading a Central Bank is a challenge for whoever holds the position.
“In any circumstance, it would have been difficult to lead such an important institution. However, in the circumstances that we have been experiencing globally, of course it is a double challenge”, he concluded.