February 8, 2013 / 7:30 PM / 5 years ago

Mexico's Sanchez says inflation battle not won yet

MEXICO CITY, Feb 8 (Reuters) - Mexico’s central bank must remain vigilant on inflation despite a recent easing in the headline rate to its lowest in more than a year, central bank board member Manuel Sanchez said on Friday.

Sanchez said the recent decline to 3.25 percent in January largely reflected one-off factors and inflation expectations had not clearly improved.

“The short period of improvement in inflation, the extraordinary factors which explain it and the lack of a prolonged tendency towards the permanent objective mean that monetary policy must remain vigilant,” he said in a presentation prepared for delivery in Monterrey.

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