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Mexican president urges central bank to consider growth, not just inflation - Bloomberg

Economy Jul 29, 2019 11:42PM ET
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© Reuters. Mexico's President Andres Manuel Lopez Obrador attends a news conference at the National Palace in Mexico City

MEXICO CITY (Reuters) - Mexican President Andres Manuel Lopez Obrador said on Monday he would like the Mexican central bank to not only focus on controlling inflation but also think about growth in Latin America's second-largest economy.

Lopez Obrador also told U.S. news agency Bloomberg in an interview that it was important to lower interest rates to encourage economic growth while reiterating that he respected the autonomy of the central bank.

"One thing is what is desirable and another thing is what is possible," he said. "I would like the Bank of Mexico to not only focus on controlling inflation but also think about growth."

Mexico's central bank has a single mandate of lowering inflation.

"We are talking about how in the Bank of Mexico they're watching inflation more, which isn't bad, but it is important to lower rates to encourage growth," Lopez Obrador said.

Mexican president urges central bank to consider growth, not just inflation - Bloomberg
 

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