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Mexico's economic slowdown is temporary

Wednesday, September 25, 2013

A slowdown in Mexico's economy, which contracted in the second quarter, is temporary, Central Bank Governor Agustin Carstens said.

Mexico's central bank unexpectedly lowered borrowing costs earlier this month to counter a slump in growth, and many analysts expect a further cut in October after some of the worst storm damage in decades buffeted the economy.

"We're temporarily in a hole, and I expect we will resume growth," said Carstens.

Source: Reuters