Retail sales in Latin America's second-biggest economy fell 2.2 percent as compared to August 2012, the Mexican national statistics office indicated. Economists surveyed by the news service stated the metric would rise a median of 1.2 percent. The Banco de Mexico is slated to convene a policy meeting later this week and the likelihood of cutting interest rates is in play.
The Mexican peso dropped roughly 0.6 percent on Monday against the greenback and hovered near its lowest value since October 15.
Two publications recognized the strong professional performance of Agustin Carstens, governor of the central bank of Mexico, according to Latino Daily News.
Euromoney stated the governor "continues to keep a steady hand on the economy's tiller, his orthodoxy mixed with pragmatism that is helping to propel the country forward. He remains outspoken about the need for reform at the IMF."
Emerging Markets named Carstens the Central Bank Governor of the Year for Latin America 2013.
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