The Mexican central bank also maintained the overnight interest rate target steady at 4.50% at its July meeting. Mexico reported annual inflation of 3.28% at the end of June, compared to 3.4% April (3% in March), and 3.3% in the middle of May, and within the Bank's inflation target range of 3% +/- 1%. The Mexican economy grew 4.6% year on year in Q1 this year, up 0.5% from the previous quarter, compared to GDP growth of 5.4% in 2010. The Mexican peso (MXN) is down about 2% against the US dollar this year, and last traded around 12.45.
by: Central Bank News