In Latin America there are two groups of countries: those who strive to ensure stable long-term policies, protecting the institutions and the problems facing the economy are weapons that prioritize long-term results and are also countries that are not very worried about the future and believe that economic forces can move at will. In the first group so far is Mexico. I say until now because last week, President Felipe Calderon, had attitudes towards the Bank of Mexico that violate these clear rules that are to follow. Felipe Calderon hinted the Bank of Mexico should evaluate the possibility of cutting interest rates: "We need to compete for loans in Mexico and that any company can have access to cheaper credit that may be in the world, hopefully also monetary authorities here, they are autonomous, the Bank of Mexico, one day bring that concept in monetary policy. " Calderon made the remarks just as the market increases inflationary expectations.
It is that last week in the monthly survey released by the Bank of Mexico, private analysts raised their inflation expectations for 2008 from 4.18% to 4.39% in April. Although, as indicated by preliminary surveys, retail prices in May have registered a fall of 0.18% as a result of the reduction in electricity rates in some cities in the north, in the first half of May the annual rate had accelerated from 4.55% to 4.83%. Inflationary pressures in the Mexican economy did not cease. For some, such as head of government of the Distrito Federal, Marcelo Ebrard Casaubon, the consumer inflation rate is greater than that declared the government.