December 21, 2018 / 3:37 AM / 2 years ago

Mexico central bank chief says exchange rate, interest rates remain high

MEXICO CITY, Dec 20 (Reuters) - Mexico’s central bank governor said on Thursday that exchange rates and interest rates in the country remain at relatively high levels, despite recent declines.

Speaking on local radio, Alejandro Diaz de Leon, the central bank chief, said that various factors have complicated monetary policy and kept inflation high.

“While this week we have had a return and a reduction in both the exchange rate and interest rates, they remain at relatively high levels,” he said. “This means an inflationary pressure going forward.”

Mexico’s central bank hiked its benchmark interest rate by 25 basis points on Thursday, as expected, warning of uncertainty resulting in part from the new leftist government’s economic policies.

Reporting by Adriana Barrera; writing by Julia Love; Editing by Sam Holmes

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