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Mexican central bank keeps growth projections for 2018, 2019

Banco de México has kept its 2018 and 2019 growth projections unchanged but warned against inflation risks in a report released Feb. 28.

The Mexican central bank said it still expects the economy to grow between 2% and 3% in 2018 and expand between 2.2% and 3.2% in 2019.

"These forecasts consider that, although the foreign demand faced by Mexico could benefit from higher growth expectations (both for the U.S. industrial production and for global trade), the prevailing uncertainty around the terms that will regulate Mexico’s trade relations in North America could continue to negatively affect the evolution of investment," the central bank said in its report, adding that in line with the slack conditions it described, it expects economic growth to "be close to its potential."

Meanwhile, headline inflation is expected to continue to subside, approaching the 3.0% target over the course of 2018 and attaining it by the first quarter of 2019, the central bank said.

The monetary authority noted that it is willing to act "in a timely and robust manner" to temper possible price increases and reinforce its 3.0% inflation target.