External conditions move Bank of Mexico to lower growth forecasts

Reduction in trade sees central bank reduce growth forecasts for upcoming year

Citing a more complex external environment, the Bank of Mexico has lowered its 2016/2017 economic growth forecasts, in its latest quarterly inflation report, published on March 3.

Growth forecasts have been cut by half a percentage point from previous estimates. GDP growth is predicted to be around 2–3% this year. Last year, the country reported growth of 2.5% – slightly higher than the bank had forecast.

The report detailed how the bank had lowered its estimations of foreign demand mostly on

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