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Illustration of Banxico's interest rate cut to 6.75% amid market declines, peso depreciation, surging oil prices, and Middle East tensions including US-Iran conflict and Strait of Hormuz closure.
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Banxico cuts interest rate to 6.75% despite inflation and Middle East tensions

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Mexico's central bank cut its benchmark rate to 6.75% in a split decision, as global markets closed lower amid the US-Iran war. The BMV fell 1.65%, and the peso depreciated 1% against the dollar. Oil prices rose due to the Strait of Hormuz closure.

Grupo Sura's General Shareholders' Assembly, with over 70% quorum, approved the distribution of $655.411 million in earnings, including a $2,000 per share dividend marking a 33% annual increase. Company president Ricardo Jaramillo highlighted the group's strong financial results. The new Board of Directors was also formed until 2028.

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The Kenyan shilling traded at Ksh129.72 against the US dollar on Thursday, down from Ksh129.30 on March 12, as the US-Israel war against Iran persists. Investors are rushing to the dollar as a safe haven amid surging oil prices. Experts warn of risks from imported inflation and rising living costs.

Finance Minister Purbaya Yudhi Sadewa has placed an additional Rp 100 trillion in bank deposits to counter liquidity pressures from rising government bond yields. The total now stands at around Rp 300 trillion, up from Rp 200 trillion previously. The injection, timed ahead of Lebaran, prioritizes state-owned and regional banks.

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Indonesia's Finance Minister Purbaya Yudhi Sadewa disclosed underpaying about Rp50 million in his personal annual income tax return. He pointed out glitches in the Coretax system and noted that such shortfalls are common for taxpayers with multiple income sources.

With just one week left until the March 31 deadline for individual electronic tax returns for the 2025 tax year, Egyptian Tax Authority (ETA) head Rasha Abdel Aal urged taxpayers to submit promptly and utilize expanded free technical support amid the ongoing filing season that began January 1.

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Ecopetrol shares dropped 4.96% to $2,680 on the Colombia Stock Exchange on March 24, as the board debates Ricardo Roa's future as president after his imputation for alleged influence peddling. The USO union threatened a national strike if he is not removed. Analysts criticize the timing amid high oil prices.

 

 

 

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