The Mexican Economy
On September 22, the Bank of Mexico announced that it was taking policy actions designed to lower Mexican interest rates so as to reduce capital inflows and decrease international demand for the peso. This action should help lower the peso's price relative to other currencies. At the time of the announcement, the value of the peso in terms of U.S. dollars was strengthening and had reached a high not seen since late 1996.
Suggested citation: “The Mexican Economy,” Federal Reserve Bank of Cleveland, Economic Trends, no. 97-10, pp. 18, 10.01.1997.