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Mexico inflation rate brings good news, uncertainty remains -Espinosa

By Reuters_News

15:19, 22 March 2023

Mexican pesos are seen in this picture illustration August 3, 2017.
Mexican pesos are seen in this picture illustration August 3, 2017.

- Mexican's recent inflation data brought "some good news," but the country remained in a complex and uncertain environment going forward, central bank deputy governor Irene Espinosa said in an interview on Wednesday.

Mexico's core consumer prices slowed more than expected to 8.29% in the year to February, data from national statistics agency INEGI showed, providing some respite as the Latin American country continued to deal with high inflation and interest rates.

The central bank's main concern was core inflation, Espinosa told Bloomberg TV in an interview.

Asked whether the central bank, also known as Banxico, would consider a smaller interest rate hike than its 50 basis-point rise to 11.00% last month, Espinosa said "yes" but expressed caution due to the uncertain environment.

Inflation still remains above Banxico's target of 3% plus or minus one percentage point.

Espinosa said the bank's board would take into account the U.S. Federal Reserve's monetary policy decision which was likely to be a rate hike.


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The Mexican peso's strength in recent months against the U.S. dollar showed its "resilience" and Mexico's "prudence in terms of macroeconomic framework" and monetary policy, she said.

The Mexican peso strengthened slightly in morning trading to 18.56 pesos per dollar.


Reporting by Kylie Madry; Editing by Sarah Morland and Bernadette Baum

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The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
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