Mexican central bank board member Manuel Sanchez said he doesn’t see a case for the first interest-rate cut since July 2009. The peso rallied the most in three weeks and the benchmark stock index pared its gain.
“At this moment in time I don’t see a case for a rate cut,” Sanchez said today in an interview at Bloomberg’s Mexico City office. “I would like to see a better behavior of inflation. The rigidity that inflation expectations have maintained for many, many years away from the target, above the target obviously -- this stubbornness worries me.”