March 13, 2020 / 3:38 PM / a month ago

Barclays projects Mexican economy to shrink 2% due to coronavirus, expects rate cut

MEXICO CITY, March 13 (Reuters) - Barclays on Friday cut its 2020 forecast for Mexico’s economy due to impacts from coronavirus, projecting a 2% contraction compared to its prior estimate of 0.5% growth, the bank said in a report.

Barclays also said that it expects Mexico’s central bank to cut interest rates by at least 50 basis points in its next monetary policy decision on March 26. (Reporting by Noe Torres, Writing by Daina Beth Solomon, Editing by Julia Love)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below