Mexico holds firm on inflation targets

MEXICO - Mexico's Central Bank president held firm on the country's inflation targets for this year and next, even as expectations of higher inflation and diminished growth mount.

Guillermo Ortiz, president of the Bank of Mexico, blamed the country's lower growth on the slower-than-expected US economic recovery, the Financial Times reported. Preliminary figures showed US growth in the third quarter of 3.1 per cent, short of the 3.5-4 per cent many expected.

Despite the declining value of the pe