Mexico's economy could grow by 2.8% in 2022 if it keeps expanding at a quarterly rate of 1.0%, as it did during the first three months of the year, Mexican central bank board member Jonathan Heath said on Wednesday. Heath made his comments on Twitter.
Whoever wins Colombia's presidency will face a divided congress and likely street protests, which will complicate efforts to carry out badly-needed fiscal and social reforms, analysts and politicians said. Colombians vote on May 29 amid high polarization and grating inequality worsened by price rises, despite an incipient post-pandemic economic recovery.
Mexico's economy grew slightly faster in the first quarter than initially estimated, expanding by 1.0% from the previous three-month period amid a recovery in manufacturing and services, official data showed on Wednesday.
* Fed minutes, U.S. rate hikes in focus. * U.S. dollar bounces from 1-month low. * 'Progress' in resolving Peru mine standoff. Industrial metals fell on Wednesday on concerns about the global economy's health and a firm U.S. dollar, with copper down for a second straight session after hitting a more than two-week high.
Industrial metals were mostly lower on Wednesday on global growth concerns, but losses in copper were capped following reports about "progress" being made to resolve an issue that has led to the suspension of operations at a mine in Peru. Three-month copper on the London Metal Exchange was down 0.3% at $9,429 a tonne, as of 0630 GMT.
Brazilian stocks will rise less than previously expected this year as fears over October's presidential vote tarnish the outlook for the second half and double-digit interest rates prompt a switch to deposit accounts, a Reuters poll showed.
Mexico will likely see consumer price spikes for "a while" and food inflation is a growing concern, the deputy governor of the country´s central bank, Jonathan Heath, said on Tuesday. Earlier on Tuesday, the statistics agency of Latin America's second-largest economy reported annual headline inflation of 7.58% in early May, compared with 7.65% for the last two weeks of April.
Bank of Mexico deputy governor Jonathan Heath said on Twitter on Tuesday that he believes Mexico "will have high inflation for a while" and underscored that he is "very concerned" about food inflation.
Mexican inflation eased slightly in the first half of May but still remained well above the central bank's target, official data showed on Tuesday, likely giving the Bank of Mexico ammunition to again raise interest rates in June. Annual headline inflation dipped to 7.58% in early May from 7.65% during the last two weeks of April, data by national statistics agency INEGI showed.
Brazilian consumer prices rose more than expected in the month to mid-May, statistics agency IBGE said on Tuesday, marking the sharpest jump for the period in six years as the country grapples with galloping inflation. The IPCA-15 consumer price index rose 0.59% in the month, according to IBGE.
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