In particular, if the recovery in U.S. manufacturing consolidates in the following months, the upswing could fuel manufacturing in Mexico, with favorable effects on other sectors of the economy. In the medium term, economic expansion in Mexico will continue to depend on productivity growth, the lack of which has been the biggest drag on income improvement.
2/3  BIS - Central bankers' speeches  In order to maintain exchange rate sustainability, with a view to ensuring a decline in inflation and creating the right conditions for an easing in FX restrictions, it is important that hryvnia instruments remain highly attractive. In view of that, the NBU Board decided to keep the key policy rate at 25% per annum.