Thus, the authorities need to remain vigilant, as they have done to date. On the monetary policy front, inflation is expected to approach the Bank of Mexico’s 3 percent permanent target throughout this year. Going forward, risks to inflation should be carefully monitored so that attainment of the objective is sustainable. Finally, amid solid macroeconomic fundamentals, new business opportunities should begin to blossom.
In spite of what could be adverse external conditions this year, Mexico could very well turn out to be a relatively attractive spot on the emerging-market horizon. 8  See Banco de México (2014), Quarterly Report, July-September 2014, Summary, November. 9  For an analysis of FX pass-through to inflation, see Banco de México (2012), Inflation Report, July–September 2012, November, Box 1.