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BARC Barclays Plc

183.20
1.68 (0.93%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Barclays Plc LSE:BARC London Ordinary Share GB0031348658 ORD 25P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  1.68 0.93% 183.20 183.48 183.52 185.68 182.82 183.32 54,857,915 16:35:20
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Commercial Banks, Nec 25.38B 5.26B 0.3470 5.29 27.81B

Bank of Mexico Reschedules Policy Meetings

01/07/2015 10:20pm

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MEXICO CITY—The Bank of Mexico on Wednesday rescheduled its monetary policy decisions for the remainder of this year so that its meetings follow those of the U.S. Federal Reserve, given the possibility the central bank will respond to an increase in U.S. rates with increases of its own.

The Bank of Mexico moved back its scheduled meetings for July, September, October and December, which were originally set to occur ahead of the corresponding meetings by the U.S. Federal Reserve.

The central bank, which has kept its overnight lending-rate target at a record-low 3% for the past year, is widely expected to start raising rates when the Fed does, since higher U.S. yields could cause the peso to depreciate against the U.S. dollar and prompt investors to move into dollar-denominated assets.

The bank cited "the importance that the relative monetary stances between Mexico and the U.S. could have on the exchange rate and inflation expectations, as well as on prices in Mexico."

The new dates will give the board of governors "the most up-to-date information on the monetary decisions of the U.S. Federal Reserve when they make their deliberations," the bank added.

"After this announcement, we confirm our view that the Bank of Mexico will hike rates right after the U.S. Fed," Barclays said in a note.

The Bank of Mexico's next scheduled meeting was moved to July 30 from July 23, and now comes a day after the Fed's meeting this month. The Bank of Mexico will also meet on Sept. 21, Oct. 29, and Dec. 17.

Write to Anthony Harrup at anthony.harrup@wsj.com

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