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Agustín Carstens, the governor of Mexico's central bank said that president-elect Donald Trump is no longer a “category 5 hurricane” for the Mexican economy; the storm lowered in category, but still isn't a tropical storm.
The central bank governor said that until know, we've only seen the preliminary outline of Trump's economic policies and there's still a lot of uncertainty on how he will actually implement them.
On September 31, Carstens was quoted as saying that the economy would suffer a disastrous blow if Trump were to win the election.
The Bank of Mexico raised the country's key interest rate for the fourth time this year to 5.25%, its highest level since May 2009.
Carstens said that the country could raise interest rates again in December before the end of 2016.
The bank will closely monitor the U.S. Federal Reserve's December monetary policy decision, scheduled one day ahead of the Mexican central bank's Dec. 15 meeting, Carstens said.
