Meanwhile, the Mexican economy has continued a recovery process which has included more moderate growth in the industrial sector, mainly reflecting slower exports to the United States. Mexico’s economic outlook remains dependent on the strength of the U.S. economy, but long-term upside potential can be realized if Mexico’s fundamentals are strengthened, and pending structural reforms approved.
Finally, monetary policy will continue to be consistent with preserving the convergence of inflation to the permanent 3 percent target. 4  BIS central bankers’ speeches