Popular:

Bank of Mexico warns possible episodes of economic volatility

The Mexican economy continued to attract resources in the third quarter of 2017, but further episodes of volatility can not be ruled out due, among other factors, to a tightening of global financial conditions greater than anticipated, reported today the Bank of Mexico.

Mexico, Nov 24 (EFE) .- The Mexican economy continued capturing resources in the third quarter of 2017, but further episodes of volatility due to the Banco de México reported today.

In its quarterly report on the balance of payments, the Bank of Mexico reported a tightening of global financial conditions. The issuing institute indicated that in the July-September period of this year, the current account registered a deficit of 5,528 million dollars, resulting from credits for 118,226 million dollars. dollars and debits for 123,754 million.

As a proportion of gross domestic product (GDP), the current account deficit was 1.8% in the third quarter of 2017 and 1.6% in the accumulated January-September, "both levels lower than those registered in the same periods of 2016 (2.3 and 2.5%, respectively)," he said.

On the other hand, he pointed out that the increase The oil trade deficit was offset by lower deficits in the non-oil trade balance and in the balance of primary income, as well as by an increase in the surpluses of remittances and travel accounts.

He argued that the smaller deficit in the non-oil trade balance was observed in a context in which the strengthening of activity economic growth at the global level has contributed to Mexico's manufacturing exports continuing to recover, especially automotive exports, and the fact that the real exchange rate has been located in high levels.

"In this scenario of greater global economic recovery, also characterized by still accommodative monetary conditions and by expectations of possible stimuli As for fiscal policies, the prices of financial assets continued to rise in most advanced economies and in some emerging economies, "he said.

In this context, he added, the economy mexicana continued to raise funds through the financial account, mainly as direct investment and portfolio.

"However, forward can not be ruled out new episodes of volatility due, among other possible factors, to a tightening of global financial conditions greater than what is currently anticipated by the markets ", On November 22, the Bank of Mexico warned of risks for the country's economic growth prospects for this year, which it reduced from an interval of 2.0 and 2.5% to one between 1.8 and 2.3%, due to the earthquakes last September.

The earthquakes, which left 471 dead, "make it necessary to revise downward 2017 ", although its consequences on economic activity" would seem to have been moderate and transitory, "said the issuing institute.

" However, it is important to note that the balance of risks for growth has deteriorated, and is biased to the downside, mainly due to the uncertainty associated with the renegotiation of the Free Trade Agreement of North America (NAFTA), "explained the central bank.

This uncertainty has kept investment at depressed levels and is possibly one of the causes of the slowdown in the consumption, "he added.

Comments 0

?
No comments for this article yet!
EUR/USD

EURUSD=X

1.1747 -0,00 -0,24%
USD/CHF

CHF=X

0.9581 -0,00 -0,09%
GBP/USD

GBPUSD=X

1.3067 -0,02 -1,54%
USD/JPY

JPY=X

112.5670 +0,09 +0,08%
USD/CNH

CNH=X

6.8451 +0,01 +0,15%
USD/CAD

CAD=X

1.2912 +0,00 +0,06%
IBEX 35

^IBEX

9590.40 +6,70 +0,07%
IBEX MEDIUM..

INDC.MC

15377.30 -38,40 -0,25%
IBEX SMALL ..

INDS.MC

7490.80 +5,90 +0,08%
IBEX TOP DI..

INDD.MC

3047.90 +1,80 +0,06%
FTSE LATIBE..

INDB.MC

1249.20 +9,20 +0,74%
FTSE LATIBE..

INDL.MC

8444.10 +226,10 +2,75%
Abertis Inf..

ABE.MC

18.36 +0,00 +0,00%
Actividades..

ACS.MC

37.83 +1,03 +2,80%
Acerinox, S..

ACX.MC

12.24 -0,03 -0,24%
AENA, S.A.

AENA.MC

150.45 +4,75 +3,26%
Amadeus IT ..

AMS.MC

78.26 +0,46 +0,59%
Acciona, S...

ANA.MC

75.86 -0,12 -0,16%
Financial S..

XLF

28.74 -0,11 -0,39%
VanEck Vect..

GDX

18.78 -0,15 -0,79%
SPDR S&P 50..

SPY

291.99 -0,22 -0,07%
Vanguard FT..

VWO

41.80 +0,17 +0,41%
Direxion Da..

TZA

8.24 +0,12 +1,48%
Utilities S..

XLU

53.06 +0,22 +0,43%
Cookies help us to offer our services.
Reset Password