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Mexico likely to change 2014 growth forecast

Friday, June 20, 2014

Mexico's central bank will likely modify its 2014 growth estimate again this year, Banco de Mexico governor Agustin Carstens said.

The central bank lowered its growth estimate last month to a range of 2.3 to 3.3 percent from 3 to 4 percent after growth disappointed in the first quarter.

The central bank surprised markets by cutting its benchmark interest rate by 50 basis points to a record low of 3.0 percent on June 6 and then noted that March growth was even weaker than expected when it cut its forecast in May.

Source: Reuters