Intercam News

The Top *Inflation in Mexico once again exceeded estimates in the first half of April (7.72% annual). *Powell reinforces expectations of aggressive interest rate increases in the United States in order to control inflation in an IMF event. *Markets consider that the FED will carry out 4 increases (50 bp each) between May and September

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The Top *Vice-President of the ECB, Luis de Guindos, expects the purchasing program to end in July and prepare interest rate increases in the same month. *Putin declares victory in Mariupol; the territory is essential for establishing a land corridor between Crimea and Donbas. *Xi defends quarantine measures in China despite their economic impact. *A

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The Top *The Senate approved changes to the Mining Law in order to regulate lithium extraction. *ECB could increase interest rates as soon as July in light of inflationary risks: Martins Kazaks, member of the ECB. *The People`s Bank of China decided to maintain one year preferential loan interest rate unchanged (3.7%). *China assured that

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The Top *The World Bank revised its global growth estimates downwards for 2022 (3.2% vs 4.1% prev.). *Mexico´s economy grew at a 0.4% annual rate in March, according to the INEGI´s Timely Indicator of Economic Activity. *I wouldn’t discard a 75bp interest rate increase in May, even though that´s not the base scenario: James Bullard,

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The Top *China`s economy slowed down less than expected in the 1Q22 (4.8% annual). *Energy reform bill didn’t obtain enough votes for its approval in the Chamber of Deputies. *Libya reports crude oil production disruptions due to protests in the country`s largest oil field, Sharara. *Central Bank of China decided not to reduce interest rates

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The Top *The United States is preparing a military aid package worth 750 million dollars for Ukraine, according to reports. *Inflation for producers in the United States increased more than expected during March (11.2% vs 10.6% e.). *Inflation in the United Kingdom exceeded estimates and reached its highest level in 30 years (7% annual). Economic

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The Top *Inflation increased in line with estimates in the United States (8.5% annual). *WTO expects 3% growth in global trade during 2022, a downwards revision with respect to the previously estimated 4.7%. *Ukraine expects Russia to double its military offensive strategy in the eastern part of the country this week – after a phase

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The Top *Inflation in the United States will remain above 2% in 2023: Loretta Mester, Cleveland FED. *Inflation for consumers increases in China (1.5% annual in March); inflation for producers increases at a less than expected moderate pace (8.3% annual). *Industrial activity in Mexico receded in February (-1% m/m vs 0.3%e.); only manufacturing industries grew

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Last Wednesday, April 6th 2022, we inaugurated the new Taak Cuernavaca Branch located in: Río Mayo, No. 601, 2nd Venue, First and Third floors, Vista Hermosa, Zip Code 62290, Cuernavaca, Morelos. Phone: 777 316 0222 At the event, we were more than privileged to have Mr. Eduardo García Lecuona, CEO of Intercam Financial Group, Dr.

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The Top *Food prices increased 13% in March; 75% since mid-2020, according to the FAO. *Interest rates still need to be increased in 300 base points during the second half of 2022; James Bullard, St. Louis FED. *SCJN validates changes made to the Electricity Industry Law, which gives the CFE superiority concerning the distribution of

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