Deputy Governor Galia Borja rules out vulnerability to Banxico’s autonomy after AMLO’s leak

Acapulco, Guerrero.- “There is no danger or vulnerability regarding the autonomy of the Bank of Mexico, the decision was made among the five members of the Governing Board”, assured the deputy governor of Banxico, Gaul Borgiaupon arrival at the venue for the 85th Banking Convention.

The question was forced after, in the morning, before knowing the decision of the Governing Board, the president Andres Manuel Lopez Obrador “leaked” that the Board had decided to raise the reference interest rate by 50 base points, to leave it at a level of 6.50 percent.

And about what was said by AMLOthe central banker said: “the important thing is that the decision came out, it was a unanimous decision, the most important thing is in the statement at one in the afternoon… About the president’s announcement we will surely talk about it after a while”, he commented.

He remembered that the monetary policy meeting He has eight dates a year and this was only one of them, and he maintained that the five members of the Governing Board acted with complete independence.

Questioned directly about whether the information had been leaked by a member of the Governing Board, Borja clarified that: “in the Board of Directors monetary politics members of the Executive and the President of the Republic are present and have to know about these things, but there are times and channels of communication”.

He argued that this does not mean that the Executive’s participants do not have to participate.

Lastly, he assured that the Bank of Mexico does not lose credibility by this fact.

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