Particular attention is warranted for the time being to the downside risks to economic activity, mainly the impact of the spread of COVID-19 and geopolitical risks, and to the upside risks to prices due to a rise in commodity prices. I would now like to discuss three points to which I am attentive with regard to risks to the outlook.
In the face of such an eventuality, the best strategy for Mexico is to buttress its economic fundamentals, including fiscal discipline, financial and price stability, and productivity-enhancing reforms. Monetary policy and inflation For more than a decade, the Bank of Mexico has implemented its monetary policy within an inflation-targeting framework.