Bank of Mexico increases 2004 economic forecast
Mexico's central bank increased its 2004 economic growth forecast as factories surged output and hired new workers to meet US demand. The Bank of Mexico raised its forecast for growth to a range of 3.75% to 4.25% from the previous range of 3.5% to 4%. The central bank will ease overnight lending to boost interest rates and strengthen the Peso to keep the inflation below 4% this year.