Banco de México’s main objective is to safeguard the purchasing power
of the Mexican currency. In order to accomplish its mandate of controlling inflation,
the central bank must define an operating target to guide its implementation of
monetary policy. Starting January 21, 2008, Banco de México will adopt as an
operating target the overnight interbank rate (tasa de fondeo bancario) instead of
the level of commercial banks’ current account balances at the central bank
(corto). This change does not affect Banco de México’s monetary policy stance.
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