Banxico Nominee Heath: Mexico’s economy could contract in January

Jonathan Heath, one of President Andres Manuel Lopez Obrador’s nominees for the Mexican central bank, Banxico, expressed his take on the Mexican economy in his congressional hearing late-Monday.

Key Quotes:

“For January, right now I’d think that we could see a negative rate (of growth).”

“If it goes on beyond February, March, who knows when, we could start to get in to something dangerous, and then I would be more worried.”

“If it’s a problem that lasts a week, two more weeks, and we see things starting to work themselves out, I think the effects could be minimal.”