Mexico’s economic outlook is one of moderate growth at a rate that surpasses that of advanced nations but with the main risks coming from those economies. Inflation is likely to remain subdued, sustaining its convergence to the permanent 3 percent target. Nevertheless, the Bank of Mexico will have to continue monitoring the risks that may hinder progress toward the consolidation of price stability.
7  For a seminal exposition of inflation targeting, see Bernanke, B.S., T. Laubach, F. S. Mishkin and A.S. Posen, (1999), Inflation targeting: lessons from the international experience, Princeton, N.J.: Princeton University Press. Taylor, J. B. (1993) exposes a simple interest rate rule for price stability, see “Discretion versus Policy Rules in Practice”, Carnegie-Rochester Conference Series on Public Policy 39, p.p. 195–214.