Mexico.- The head of the Ministry of Finance and Public Credit (SHCP), Rogelio Ramirez de la Omade it clear that he will not present his resignation after the president Andres Manuel Lopez Obrador announced the increase in the interest rate guaranteed by the Bank of Mexico (Banxico), before the autonomous body announced it.
Last Wednesday, March 23, in his morning conference, President López Obrador, anticipating the Central Bank of Mexico, announced that the Governing Board had approved raising the interest rate by 50 points, leaving it at 6.50%.
“Yesterday here in Mexico, the Banxico increased .50 percent, we are going to have an interest rate of 6.5, when it increases there is less investment and inflation is supposed to fall, it is a control mechanism,” said the federal president in his public act.
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When leaving the 85 Banking Conventionthe Secretary of the Treasury, responding to the voices that indicate that he should leave his position in the federal agency due to the issue of López Obrador and Banxico, maintained that these demands should not be “heeded.”
It was in his “morning” session on Thursday, March 24, that the head of the Federal Executive Power made it public knowledge that it had been Ramírez de la O who had informed him about the interest rate increasethis taking into account that the official has representation in the Governing Board.
During his participation in the inauguration of the 85th Banking Convention, President Andrés Manuel López Obrador took advantage of the occasion to, after criticism for the information he gave, apologize to the members of Banxico.
“I apologize to the governor of the Bank of Mexico and the deputy governors because I received the information last night, I thought it had already been made public and this morning I spoke about it,” he mentioned.
At the same time, the federal president promised to respect and safeguard the autonomy and independence of the Central Bank of the Mexican Republic.
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After López Obrador’s announcement, some rating agencies and specialized agencies warned that the announcement made by the head of state on the interest rate reflects a possible violation of Banxico’s autonomy.
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