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News Article

6,104 New Cases Marks Second Biggest Daily Increase

By Ricardo Guzman | Thu, 06/25/2020 - 21:17

The Ministry of Health reported 202,951 positive cases after 6,104 new infections were confirmed since yesterday, recording the second greatest increase for a daily report. Over 736 new deaths from COVID-19 were also recorded in the last 24 hours, meaning deaths now total 25,060 nationwide.

During today’s briefing, Director of Epidemiology José Luis Alomía said that the accumulated total of suspected cases rose to 63,583 and that 116,862 patients have already recovered from the virus.

Mexico City is the state that registers most positive cases, with 45,125, while the State of Mexico is in second place with 32,117.

Health Promotion head Ricardo Cortés stated that the citizen mobility indexes have been analyzed and said that the state of Aguascalientes has not applied the basic prevention measures.

 

As of Thursday, June 25

6,104     new cases (from yesterday)

202,951 confirmed cases nationwide

63,583   under investigation

25,060   deaths

 

Impact on markets (19.30 hrs)

US Dollar              MX$22.75            (0.13%)

BMV IPC               37,734.52             (-0.46%)

Dow Jones          25,745.60             (1.18%)

 

Herrera highlights reserves

Minister of Finance (SHCP) Arturo Herrera said not all fiscal policy instruments or indebtedness should be drained to mitigate the COVID-19 effects, which has lasted longer than expected. “This is not what the world thought a few months ago, that it was going to be a minor drop of two or three months and then we would go up as a recovery in V,” he said during a forum organized by Bloomberg. After being asked on why Mexico had not given as many fiscal stimuli as other countries, Herrera said a reserve is required to face the lasting pandemic.

 

Herrera tests positive for COVID-19

Minister of Finance (SHCP) Arturo Herrera reported that he has tested positive for COVID-19. “I have just been told that I tested positive for COVID-19. I have minor symptoms,” he explained via Twitter. Herrera has met with President Andrés Manuel López Obrador and other members of the Cabinet in recent days. Just last Tuesday June 23, he joined Ministry of Economy (SE) Graciela Márquez, and Minister of Agrarian, Territorial and Urban Development (SEDATU) Román Meyer in the federal loan’s daily briefing

 

Banxico cuts interest rate to 5 percent

Banxico cut the national interest rate for the fifth consecutive time in the year by half a percentage point, to drop it to 5 percent after an unanimously decision by the Central Bank governing board. In a statement, the board members highlighted that “the challenges derived from the COVID-19 pandemic for monetary policy include both the significant impact on economic activity and a financial shock”.

 

JPMorgan forecasts further reduction

JPMorgan forecasts a further interest rate cut by Banxico before their next scheduled meeting in August, placing it at 3 percent. “Although the next monetary policy meeting is scheduled for August 13, the economic information expected suggests that the Board will not wait to cut the rate again,” the bank reported. “We expect a decision in about four weeks,” the bank said in a report sent to its clients.

 

Nissan to lay off 200 in Aguascalientes

Japanese automaker Nissan will lay off 200 workers at its Aguascalientes plant to make operations sustainable amid the COVID- 19 crisis, the company announced. Nissan said it is ready to meet the new USMCA trade treaty requirements, which will take effect on July 1.

 

Ricardo Guzman Ricardo Guzman Editor