The Bank of Mexico’s recent decision to lower the leading interest rate from 7 to 6.75 percent has been relatively questioned, with deputy governors Jonathan Heath and Galia Borja voting against. The classics say that when inflation rises, as is the case, interest rates must also rise to curb credit and consumption. The most recent report from the Ministry of Finance to Congress reveals some of the keys to the decision: 1) It is about the government obtaining cheaper credit, the public debt reached 18 trillion 691 billion pesos at the end of February. 2) Productive investment in the first two months of the year fell 44.9 percent, the largest drop on record. The private sector needs to be encouraged to invest with cheap loans. Although the central bank’s agreement is justified, it goes beyond the constitutional mandate that limits its operations to only maintaining price control, not to helping the government promote the economy. The governor of the BdeM, Victoria Rodríguez Ceja, of dark blood, has already announced that there will be no more interest rate cuts.
to court
The government of Mexico will litigate against the United States as an intervener (amicus curiae) in a class action against ICE abuses in Adelanto, California, as announced by the Consul General in Los Angeles, Carlos González Gutiérrez. The Foreign Ministry reported that the lawsuit was filed by the Public Council organization “due to unsanitary conditions; punitive isolation; limited basic needs, including medical and mental health care, access to fresh air, adequate nutrition and water, as well as sanitary living conditions” in that detention center, where four of the 14 civilian deaths have occurred. The most recent death is that of José Guadalupe Ramos Solano, 52 years old. It is a decision by President Sheinbaum of enormous importance.
Don’t give him “gatún” for tuna
According to Oceana, 38 percent of the fish sold in Mexico are replaced by different species, often cheaper. According to the study carried out by the non-governmental organization dedicated to the protection of the oceans, four out of 10 times the consumer receives a different fish than the one they paid for. Whoever buys snapper may be taking home tilapia or catfish, much cheaper fish, and paying up to three times more for a lower priced product.
Superweight loosens
Yesterday Pemex raised the price of its export oil to 101.59, the previous Monday it closed at 100.01. On the other hand, our currency left the paradise of 16-17 pesos per dollar and stood at 18.06, according to the Investing.com portal. It is not wise to buy or sell dollars at this time. The market will offer many surprises.
Tell Claudia
Subject: the famous photo
If we had another type of press, the famous photo of the balcony of the National Palace would deserve to be awarded as the photograph of the year; It is beautiful, intriguing and, above all, timely. However, he has dedicated himself to bothering you because he suspects who it is. On the other hand, they do not say that Jenaro Villamil, who tried to deceive public opinion by saying that it had been created with artificial intelligence, has formed his small youth in the system he is in charge of, and closes the doors to young reporters because they refuse to pay “fee fees.”
Jesus Garcia
Twitterati
Through tears, the family of José Guadalupe Ramos Solano, a Mexican migrant who died in ICE custody, demanded justice at the Mexican consulate in Los Angeles. They describe him as a hard-working and responsible man.
Martha Berra @MarthaIberraA
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