Fundamentals shield Mexico: Carstens

Fundamentals shield Mexico: Carstens

Mexico’s “strong fundamentals” will help shield its economy from the worst effects of a deteriorating global business cycle that has already taken its toll on emerging markets worldwide, its central bank governor Agustín Carstens told LatinFinance in an interview. Speaking in advance of a surprise 25 basis point interest rate cut Friday, Carstens said Mexico’s output would be “much better” in the second half of the year than the first, as economic activity in the US gathers pace. “Given that Mexico is very closely integrated into the US, that should benefit Mexico in particular,” he said, though he acknowledged that the economy’s ‘poor performance’ in the first six month

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