MEXICO CITY (Reuters) – Expected interest rate hikes by the U.S. Federal Reserve put “limits” on Mexico’s monetary policy, Bank of Mexico Deputy Governor Jonathan Heath said on Thursday at a business summit.
Due to the close relationship between the U.S. and Mexican economies, the Bank of Mexico’s monetary policy decisions could not go counter to those of the Fed, he said.
Heath said that Mexico is currently seeing low levels of private investment, hampering an economic recovery.
“We don’t really have any (economic) growth engine” for 2022, Heath said.
(Reporting by Anthony Esposito and Ana Isabel Martinez; Writing by Kylie Madry; Editing by Daina Beth Solomon and Lisa Shumaker)
