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BIS-Mexico's Ortiz says premature to detail exit strategies

Sat Jun 27, 2009 10:25pm IST
 
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* Premature to go into detail about exit strategies

* Global economy past worst, not out of woods yet

* Mexico economy to rebound in Q3, easing cycle near end

By Krista Hughes

BASEL, Switzerland, June 27 (Reuters) - It may be too early for central banks to start detailing strategies to unwind unprecedented policies to boost the economy, Mexican Central Bank Governor Guillermo Ortiz said on Saturday.

In an interview with Reuters on the sidelines of the annual meeting of central bank governors at the Bank for International Settlements, he said the global economic downturn was past its worst but recovery is not yet secured.

"It may be premature to go into a lot of details about exit strategies at this point, it's important to have that subject in mind but I think that we are not out of the woods yet," said Ortiz, who is also chairman of the BIS board.

"One important question is whether these green shoots actually take root and the incipient recovery which we see in some parts of the world is sustainable."  Continued...

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