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Mexico interest rate uptick tied to drought
Mexico links interest rate, drought
by
MAYA AVERBUCH AND NACHA CATTAN BLOOMBERG NEWS (WPNS
|
July 4, 2021 at 2:06 a.m.
Dried land near the Villa Victoria Dam, the main water supply for Mexico City in Villa Victoria, Mexico, in early May.
(Bloomberg (WPNS)/Alejandro Cegarra)
Mexico s central bank raised an unusual red flag when it upended markets with a surprise interest rate increase last month: Drought may pressure farm prices, it warned.
It was the only new item the central bank, known as Banxico, listed among inflation risks on the day it lifted borrowing costs for the first time since 2018. The worst drought in decades, according to NASA, may have persuaded policymakers to turn hawkish, central banker Gerardo Esquivel said in a subsequent interview.
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An aerial photo taken by the New Jersey Department of Environmental Protection, during one of the DEP s flyovers to survey the Harmful Algal Bloom issue in Lake Hopatcong, during the summer of 2020. (Image courtesy of NJDEP)
NEW JERSEY The bill that earmarks $10 million in funding to lake conservation groups like the Lake Hopatcong Commission, Greenwood Lake, the Lake Topanemus Park Commission and Deal Lake Commission, to fight harmful algal blooms, heads next to Governor Phil Murphy s desk after amendments to it unanimously passed in New Jersey s Senate on Thursday.
Senate Bill S3618 passed 38-0. with its companion bill A5778 having unanimously made its way through the Assembly 75-0-0.