Mexico central bank lowers growth expectations, hikes inflation view

MEXICO CITY (Reuters) – Mexico’s central bank lowered growth expectations for 2018 and 2019 and said that inflation would take longer than previously expected to moderate to its 3.0 percent target, according to its quarterly inflation report on Wednesday.

The Bank of Mexico said it expected the nation’s gross domestic product to grow between 2.0 and 2.6 percent for 2018, compared with estimates of 2.0 to 3.0 percent in its previous inflation report.

The bank also lowered the forecast for 2019, predicting growth of between 1.8 and 2.8 percent, down from a range of 2.2 to 3.2 percent.

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