Economy"If they appoint me, I would continue in Banxico,"...

"If they appoint me, I would continue in Banxico," says Gerardo Esquivel

The deputy governor of the Bank of Mexico (Banxico), Gerardo Esquivel, said this Wednesday that he is willing to repeat a new period in the Governing Board if the President of the Republic so decides.

“I don’t know if it’s as much as a desire, but if they appoint me I would continue. But that is decided by the president (Andrés Manuel López Obrador). I don’t have to be speculating,” he said when leaving a meeting with representatives of the Association of Banks of Mexico (ABMS).

Gerardo Esquivel was proposed as deputy governor of the central bank in 2019 to replace Roberto del Cueto, who left office for health reasons. President López Obrador made the nomination to the Senate of the Republic, which later took protest from Esquivel.

In case the president does not nominate him for a new term, Esquivel already has a plan B: the academy.

“I have a plan B, of course it’s the academy. I have no problem coming back,” he said.

no optimism

When questioned about the inflation forecasts, which he released last week at the Monetary Policy Board, Esquivel said that they are not optimistic, as some specialists have said, because “the forecasts are based on very serious economic models.” .

Some specialists have said that in the coming months, the central bank will have to modify its inflation forecasts upwards.

The Bank of Mexico is confident that this quarter will be the peak of inflation and that, as of the third quarter of 2023, the path towards the 3% goal will begin.

“We are making decisions that we believe can help us get back to the finish line,” he said.

Will El Buen Fin be able to stop inflation?

If it wants to be successful, the sales season of El Buen Fin 2022 must have very attractive offers and discounts to make Mexicans consume and beat inflation.

Get rid of inflation! Gentera achieves triple-digit profits

Despite the good dynamism of its portfolio, the institution will show caution in 2023 due to the "January slope" and the possible defaults of its clients.

Arca Continental enters the distribution of Don Julio tequila

The Coca-Cola bottler will now test distillate distribution, while reinforcing Topo Chico's presence in the ready-to-drink category.

Inflation in Mexico picks up 8.5% in the first half of October

The rise in prices more than doubles Banxico's goal and indicates that the entity will continue to make credit more expensive at its next monetary policy meeting.

Inflation does not spare even beer; has its biggest rise in 12 years

The chela registered an increase of 11.2% during September of this year, the highest variation in 151 months; the most expensive 355-milliliter bottle was found in Cuernavaca Morelos.