Mexico president urges central bank to spur growth as inflation eases

"If not, we're talking about the Bank of Mexico standing on just one foot," he said. "The best thing is the balance where there's no inflation and there's growth."

Mexican President Andres Manuel Lopez Obrador on Friday urged the Bank of Mexico to begin promoting economic growth as inflation continues to ease in Mexico, Latin America's second-largest economy.

Banxico, as the central bank is known, is "doing well" bringing down inflation, Lopez Obrador said in a regular press conference, then added: "But the other task that they must carry out little by little is also that of promoting growth." Data published earlier on Friday showed inflation continuing a months-long slowdown in the first half of September, with annual headline inflation at 4.44%, down significantly from a peak of 8.70% recorded in August and September 2022.

Lopez Obrador acknowledged the central bank's independence, but said it needed to address both growth and inflation. "If not, we're talking about the Bank of Mexico standing on just one foot," he said. "The best thing is the balance where there's no inflation and there's growth."