Money & Co: Mexico serious about fighting inflation
June 20, 2008 | 4:36
pm
Mexicans are taking the inflation battle seriously enough to risk slowing their economy with higher interest rates, writes Tom Petruno on the Money & Co. Los Angeles Times blog:
The Federal Reserve talks a lot about inflation.
The Bank of Mexico does something about it.
The Mexican central bank today surprised markets by raising its benchmark short-term interest rate to 7.75% from 7.5%, the first increase since October.
-- Deborah Bonello in Mexico City
Mexico is currently the 5th wealthiest country in Latin America. The wealthiest man, Carlos Slim Hulu, in the world is Mexican and lives in Mexico. I am saying all of this to say that Mexico currently is able to take care of its wanderers, its just that the culture does not include social services and education to take care of their less fortunate. Improving their economy will not change this one bit...watch!
Posted by: Lois | June 22, 2008 at 08:45 AM
Mexico is fully capable of taking care of all of its people now! Their poor don't realize that they don't have to wander, they just have to change their government's priorities to include the education and welfare of its poor. History has shown, as it is showing today, Mexico's prosperity does not include bettering its people, just a few. Mexico is the 5th wealthiest country in Latin America today! As long as we provide a refuge and rights, which their people don't have in their own country, we will continue taking care of its poor while they continue to prosper. Shame
Posted by: Lois | June 21, 2008 at 07:00 PM
I have faith in the new Mexico every since Fox took over and past the helm to his new successor now Felipe the president of Mexico...Mexico is emerging into a new age to better its people and the world....The day will come when its people wil no longer wander for survival
Posted by: frank carter | June 21, 2008 at 10:14 AM