Mexico's Herrera announces measures to boost the economy
- government will mobilize 485 billion pesos to boost infrastructure, investment and private consumption
- Mexico is not immune to turbulence in global economy, trade friction
- will accelerate infrastructure projects in 2019 with 50 billion pesos, which will not have impact on budget
- top finance minister official Gabriel Yorio become deputy finance minister
- head of Mexico's development bank will launch a new mortgage loan for workers in formal and informal economy
- Mexico's development bank will provide new credit lines of up to 270 billion pesos made available for small, medium size firms
- federal government will accelerate 2019, move forward 2020 purchases of goods, services for total of 116 billion pesos
- these actions aim to boost economy in 2019, have an immediate effect
- there is a complex international context, countries around the globe are preparing, taking measures
we are concerned about economic deceleration in Mexico - none of these measures will affect budget
- funds are from national infrastructure fund
The USDMXN is little changed on the news headlines so far. On the daily chart, the price is below its 100 day MA at 19.07908 and above a lower trend line at 18.9821 (last tested on Thursday).
