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Interest rates in 2007 were situated at around 7 percent, [57] having reached a historic low in 2002 below 5 percent. Inflation rates are also at historic lows; the inflation rate in Mexico in 2006 was 4.1 percent, and 3 percent by the end of 2007. Compared against the US Dollar, Mexican Peso has devalued over %7,500 since 1910. [citation needed]
January 22, 2008: The US Federal Reserve cut interest rates by 0.75% to stimulate the economy, the largest drop in 25 years and the first emergency cut since 2001. [113] January 2008: U.S. stocks had the worst January since 2000 over concerns about the exposure of companies that issue bond insurance. [114]
Hong Kong and Taiwan cut interest rates while an interest cut to .3% was announced by the Bank of Japan on Friday. [112] [113] Also on Thursday the Federal Reserve established a $30 billion currency swap line with South Korea and Singapore as well as Brazil and Mexico. [114]
Mexico is a land of great opportunity, led by a being a land of great risk. So what are investors supposed to think when the Bank of Mexico cuts its benchmark interest rates? Mexico's central bank ...
(Bloomberg) -- Mexico’s central bank is projected to cut its key interest rate by a quarter point for a fifth straight decision, as stagnant growth prompts officials to lower the highest ...
Mexico suffered from a massive debt crisis in 1982, resulting in the country requesting emergency financing from the IMF. Despite an early period of economic success, a decline in oil prices and an increase in US interest rates caused Mexico to double its debt from 1979 to 1982 causing an excess inflation rate of nearly 60% of its GDP. [6]
MEXICO CITY (Reuters) -The Bank of Mexico's cycle of interest rate hikes is not yet over and one or two more increases are likely amid concerns about inflation, though any monetary policy moves ...
In August 2007, Committee announced that "downside risks to growth have increased appreciably," a signal that interest rate cuts might be forthcoming. [4] Between 18 September 2007 and 30 April 2008, the target for the Federal funds rate was lowered from 5.25% to 2% and the discount rate was lowered from 5.75% to 2.25%, through six separate actions.