By Vicki Schmelzer
NEW YORK (MNI) - The central bank stands ready to respond to any spillover
effects from a change in U.S. monetary policy and or any destabilization in
Mexican financial markets, said Bank of Mexico Governor Agustin Carstens
The most "important external interest rate" is the U.S. fed fund rates and
the Bank of Mexico continued to keep a close eye on Fed policy, the peso
exchange rate and global investor flows, he said in a speech to an audience at
the Credit Suisse Global Macro Conference.
"We will adjust our policy rate if it is needed to comply with out
objectives," Carstens said. In Q&A later, he stressed again, "We will not be
shy" about using all monetary policy tools to stabilize the market.
The performance of the U.S.