Mexico central bank chief flags peso weakness when quizzed on rates

Forex
© Reuters.  Mexico central bank chief flags peso weakness when quizzed on rates © Reuters. Mexico central bank chief flags peso weakness when quizzed on rates

MEXICO CITY (Reuters) – Mexico’s central bank will be mindful of a recent slide in the peso currency when mulling its next interest rate decision, Bank of Mexico Governor Alejandro Diaz de Leon said on Friday.

Asked on Mexican radio whether the Bank of Mexico could still follow the lead of the U.S. Federal Reserve and announce a rate cut before its next scheduled monetary policy meeting on March 26, Diaz de Leon said the two countries were different.

“In the United States, they’re not facing a very significant adjustment in the exchange rate,” he said, noting that the Bank of Mexico would be taking stock of all available information during the next two weeks to inform its decision-making.

The Mexican peso has fallen sharply against the dollar in the past few days, battered by fears over the coronavirus outbreak and a plunge in international oil prices.

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