Families enjoy the Christmas Verbena in Mexico City Zócalo. (Mario Jasso/Cuartoscuro)
Running through Dec. 30, Mexico City’s annual Christmas Verbena at the Zócalo entertains visitors with a wide array of Christmas events.
A verbena refers to a public outdoor party in honor of a saint, religious figure or holiday where the community can enjoy music, food, and drinks in a festive atmosphere.
Chilangos crowd into the Verbena light tunnel in the Zócalo. (Andrea Murcia/Cuartoscuro)
This year’s Christmas Verbena commenced with the lighting of colorful Christmas decorations on Dec. 17. The event, which drew hundreds of residents to Constitution Plaza, also known as the Mexico City Zócalo, was led by Mayor Clara Brugada and other city officials.
Holiday lights illuminated buildings around the plaza, including the National Palace, Old City Hall and the Grand Hotel of Mexico, among others. Additional decorations include a tunnel of hundreds of lights, three monumental Christmas trees made up of over 6,000 poinsettias or nochebuenas, and a gigantic Nativity scene featuring Iztapalapa’s monumental Niño Dios (baby Jesus).
This baby Jesus, also known as the the Child of Peace and Good, was handmade in 2013 by the Gómez Reséndiz family of artists and sculptures in the Mexico City borough of Iztapalapa. It has toured the country over the last decade and is now a major attraction at the Christmas Verbena.
A Christmas bazaar has also been set up by the local government, where over 250 artisans from different parts of the country sell their products. The bazaar, dubbed Artisans at Heart, features everything from piñatas to Nativity sets, clothes and various types of traditional handmade crafts. Food stalls selling Mexican delicacies have also been set up at the Zócalo.
The Niño Dios of Iztapalapa rests in his cradle, accompanied by his human parents. (Graciela López/Cuartoscuro)
Furthermore, the Verbena offers free musical shows featuring 56 artists from Mexico and abroad, including Regina Orozco, Los Tecolines, La Perla (Colombia), Los Mirlos (Peru) and others.
The Verbena will feature daily shows and live performances, including traditional pastorelas — Nativity plays that often feature a bit more humor than their English-language counterparts.
Mexico City’s first annual Christmas Verbena was in 2019, replacing the ice rink that had formerly graced the Zócalo during the holidays. This year, all boroughs of Mexico City feature an ice rink free of charge during the holidays.
Upcoming Christmas Verbena concerts
As part of the festivities, the Zócalo will host various live music performances in upcoming days, including:
Guatemalan feminist rapper Rebeca Lane: Dec. 21 at 8:15 p.m.
Los Tecolines (bolero genre): Dec. 22 at 7 p.m.
Colombian vocals and percussion ensemble La Perla: Dec. 22 at 8:15 p.m.
Singer/actress Regina Orozco: Dec. 23 at 7:30 p.m.
Mexican-American flutist Elena Durán: Dec. 24 at 3:45 p.m.
Los Mirlos (Peruvian psychedelic cumbia): Dec. 25 at 7:30 p.m.
Billboards endorsed by Gov. Abbott feature aggressive anti-migration messages, referencing sexual assault and incarceration. (Greg Abbott/X)
Texas Gov. Greg Abbott has unveiled a billboard campaign aimed at discouraging illegal border crossings into his state — especially by migrants who are hoping to cross illegally before President-elect Donald Trump takes office on Jan. 20.
The billboards, which began going up on Wednesday along major migrant pathways — mostly in Mexico but also in El Salvador, Guatemala and Honduras — warn that undocumented entry into the U.S. through Texas risks incarceration by U.S. authorities and rape by the traffickers.
The billboards feature warnings in multiple languages, including Spanish, Arabic, Chinese and Russian. (Greg Abbott/X)
One billboard in Spanish translates to “Danger ahead: If you cross into Texas illegally, you will regret it forever.” Another reads: “How much would you pay to have your daughter raped?”
The campaign, which the Republican governor estimated will cost $100,000, is part of Abbott’s broader efforts to combat undocumented crossings along Texas’ 2,018-kilometer border with Mexico — which accounts for two-thirds of the Mexico-U.S. border.
The billboards feature warnings in multiple languages, including Spanish, Arabic, Chinese and Russian.
Another message reads: “Your wife and daughter will pay for the trip with their bodies. Coyotes lie. Don’t put your family at risk.” A coyote is an individual or group that facilitates the illegal smuggling of people across borders, often charging significant fees for their services.
About 1,400 acres of land in Texas will be destined for detention centers to support mass deportations. (Cuartoscuro)
“We’re here to expose the truth to immigrants who are thinking about coming here — the truth about the traffickers who assault so many of the women and children along the way,” Abbott said during a Thursday news conference at a private ranch in Eagle Pass, Texas, which can be viewed on the governor’s Facebook page (starting at the 11-minute mark). “Our goal right now, immediately, is not only to discourage them from coming, but to help them understand the consequences.”
“There are many people who may make a last-gasp effort,” Abbott said. “The message is: Do not risk a dangerous trip just to be arrested and deported.”
The initiative complements Operation Lone Star, launched in 2021 and which, according to Abbott, has resulted in over 529,000 migrant detentions and nearly 50,000 criminal arrests.
Texas has also allocated 1,400 hectares (acres) of land for detention centers to support Trump’s plans for mass deportations and border wall expansion. “We’d be more than happy to build the wall as long as the federal government pays for it,” Abbott added.
Texas installed razor wire, stacked containers and erected other barriers that injure migrants. (Omar Martínez/Cuartoscuro)
According to reports from Human Rights Watch, the operation has caused injuries and deaths of migrants, along with harassment of organizations that provide humanitarian assistance to migrants. The Border Patrol, controlled by the federal government, says that the razor wire cuts off access to the Rio Grande and closes off the spaces needed to process arriving migrants.
“November encounters between ports of entry are now at their lowest level since July 2020,” the release added.
It also noted that “from June 5 through the end of November, the U.S. Department of Homeland Security removed or returned more than 240,000 individuals to over 160 countries, not including CBP repatriations of noncitizens encountered at airports or the northern border.” More than 740 international repatriation flights occurred from June 5 through the end of November, the release noted.
Local authorities considered this hatching season a success, with a 97% survival rate. (Isabel Mateos/Cuartoscuro)
As this year’s sea turtle spawning-and-nesting period nears an end, Cancún municipal officials have reported that roughly 950,000 hatchlings have been released and made their way to the ocean.
Fernando Haro Salinas, director of ecology for Benito Juárez municipality, told reporters this week that the majority of the hatchlings were green sea turtles (Chelonia mydas), locally known as tortuga blanca.
A reduced number of arrivals was recorded this year, due to erosion caused by the hurricane season. (Jolo Díaz/Pexels)
While three or four of the more than 50 incubation sites were still active, Haro called this year’s season a success.
“The total number of arrivals was slightly less than last year, but still quite a high number,” Haro told reporters.
Haro said this is not unusual, explaining that it is common for a high spawning season to be followed by a lower one, according to Diario Cambio 22.
Last year in the municipality, more than 11,000 nests were identified with an estimated 1,282,839 eggs from which roughly 1,205,000 hatchlings made their way to the sea.
Benito Juárez municipality and authorized hotels protected 7,500 nests this year, for a total of roughly 978,000 eggs. (Jeremy Bishop/Pexels)
On the other hand, Haro said, the survival rate at the incubation sites was approximately 97% this year, an improvement over the 94% hatch rate in 2022 and 2023.
In response to a question, Haro said meteorological conditions were also a likely contributor to the reduced number of arrivals, as this year’s hurricanes impacted nesting areas by causing beach erosion.
In all, the municipality and participating hotels protected 7,500 nests, which contained an estimated 978,000 eggs. Haro said the municipality operates four nurseries and the hotels — with permits issued by the federal Environment Ministry — manage the rest.
“We provide training [for hotel personnel] and work with the public to protect the nests,” he said.
Four different turtle species laid their eggs along Cancún beaches this year (Cancún is the municipal seat of Benito Juárez), according to Haro. In addition to the green sea turtles, loggerhead (Caretta caretta), hawksbill (Eretmochelys imbricata)and leatherback (Dermochelys coriacea) turtles were spotted laying eggs.
Colorful crafts, cultural centers and Colonial architecture make San Ángel one of Mexico City's most picturesque neighborhoods. (Inakiherrasti/Wikimedia Commons)
Borough: Álvaro Obregón Established: 1867 Location: 10 km south from of the Ángel de la Independencia
Who lives in San Ángel
San Ángel is one of the wealthiest neighborhoods in Mexico City, comprising a mix of professionals, academics and retirees. A significant number of residents are middle-aged and older adults. However, its proximity to the Autonomous Technological Institute (ITAM) and National Autonomous University (UNAM) draws in graduate students and young families, and its flair for the arts attracts creatives in droves.
“El puente de san Antonio en el camino de San Ángel, junto a Panzacola” (1855), by Eugenio Landesio, depicts what San Ángel in Mexico City looked like in the 19th century. (Eugenio Landesio/Wikimedia Commons)
A brief history of San Ángel
The area that is now San Ángel has been an important agricultural area since pre-Columbian times due to the Magdalena River, now Mexico City’s last living river and flowing through San Ángel underground. In the 16th century, the Spanish established convents and monasteries here, notably those of the Discalced Carmelites. By the 18th century, wealthy families looking to move outside the urban hub of Mexico City began building haciendas and colonial-style mansions in San Ángel. With the Mexican Revolution came the redistribution of property, resulting in the loss of many family homes.
A few decades after the Revolution, San Ángel transformed into a creative center, drawing in painters, musicians and writers. Mexico’s most famous artistic couple, Diego Rivera and Frida Kahlo briefly lived and worked in San Ángel Inn in a duplex connected by a glass-enclosed bridge, now open to visitors.
Francisco de Urquiaga, a notable philanthropist, lived near the center square during the early 20th century. Rumor has it Urquiaga hid Chucho El Roto — the Mexican Robin Hood said to have once stolen a gold watch from Porfirio Díaz — right here in his San Ángel home.
A guide to San Ángel today
A stroll over San Ángel’s cobblestone streets and colonial architecture is a bonafide blast from the past. Between pastel-colored family homes overtaken by bougainvillea are contemporary galleries, trendy restaurants, cultural centers and churches that look as if they were lifted off a postcard from Spain. It’s historical yet artsy, residential yet bustling, quaint yet vibrant. It’s a bit more humid than the central zones of Mexico City, resulting in a lush ambience with a hint of tropical air.
San Ángel is one of Mexico City’s wealthiest neighborhoods, sparkled with a vibrant student life. (Secretaría de Cultura CDMX)
San Ángel is great if you love: Feeling like you’ve been swept back to the 19th and 20th centuries while still enjoying modern conveniences, like excellent dining, boutique shopping and contemporary art galleries.
What to do in San Ángel
Starting in Plaza San Jacinto and features artisan crafts, typical street food and live music (Inakiherrasti/CC BY-SA 3.0)
Bazar de los Sábados: No visitor should miss the famous Saturday market that starts in Plaza San Jacinto and features artisan crafts, typical street food and live music. Just steps away you’ll find Jardín del Arte, where local artists display their paintings in an open-air art market in Plaza San Jacinto.
Museo del Carmen: The former monastery known for its exquisite baroque architecture also houses religious art and historical artifacts. Beneath the main altar of the church is a magnificent crypt with original tiled floors from the 16th century. On display are a collection of mummies, discovered by Zapatista troops during the Mexican Revolution.
Templo y Ex-Convento del Carmen: The historic church above the crypt is known for its stunning altarpiece and beautiful tiled domes. There’s also a large garden in the back for relaxing.
Mercado del Carmen: Not to be confused with everything else named Carmen, this adorably charming, multilevel collection of shops and restaurants is located on Avenida de la Paz, a lively destination in itself for dining and socializing.
The Fuento del Risco is an icon of San Ángel in Mexico City: represents the baroque style in Viceregal Mexico and is built with materials such as plates, cups, porcelain, mirrors and mother-of-pearl shell. (r Karlavgc/Wikimedia Commons)
Casa del Risco: Housed in an 18th-century mansion, this cultural center showcases art and history, surrounded by gardens and fountains. Inside are seven permanent galleries showcasing art ranging from religious to baroque to colonial. It’s open to the public from Tuesday to Sunday and admission is free.
Where to eat in San Ángel
San Ángel Inn: You can’t go to San Ángel without going to its most historic restaurant, located in a beautifully restored 17th-century hacienda. Originally a Carmelite monastery, the restaurant is renowned for its blue-and-white Talavera-style table settings and elegant Spanish-Mexican colonial atmosphere. And margaritas.
San Ángel Inn is one of the neighborhood’s historic jewels. Do not miss it for a fancy Mexican meal. (Marypaz Musi/CC BY-SA 4.0)
La Taberna del León: Founded by Chef Mónica Patiño in 1994, this San Ángel staple boasts a menu of contemporary Mexican cuisine with a French twist. This beautiful restaurant on Plaza Loreto is situated in a magnificent, historic house which dates back to 1926 and is the perfect place to bring your parents.
Bistro 83: Casual and stylish, Bistro 83 features a diverse menu that includes everything from hearty breakfast options to classic Mexican dishes with an international flair. The bistro prides itself on using fresh ingredients and is ideal for relaxing with friends after a day of sightseeing.
Cluny: Head to this chic French eatery and order the most popular dish: duck confit with raspberry sauce. Pair it with the wine of your choice from an extensive menu. It’s intimate, authentic and romantic, a great date option evening out with girlfriends.
With a beautiful Art Déco style, Cluny is your choice if you’re looking for the best crépes in town. (Cluny)
Cafetería El Péndulo: No matter which of Péndulo’s multiple locations you visit, you’re in for a treat. This one is technically in Guadalupe Inn, but nonetheless is an excellent escape for anyone who wants to cozy up with a good book, live music and moody lighting.
Zeru: If you’re in the mood for Mediterranean cuisine, look no further than Zeru. Here, it’s all about fresh ingredients, innovative seafood dishes and Instagram-worthy presentations. The vibe here is upscale but still relaxed, so whether you want a casual lunch or a celebratory dinner, this is your spot. Don’t miss the grilled king crab with saffron.
Séptimo Ostería: Nearly ten years old, San Ángel’s favorite Italian eatery is known for its fresh pasta and seafood dishes, not to mention a warm, rustic atmosphere. The menu emphasizes high-quality ingredients sourced from local markets which are used to create authentic Italian flavors. For a true taste of Italy, order the ravioli di ricotta.
One hidden gem
If you decide to walk to Coyoacán from San Ángel, you might cross Insurgentes Sur and find yourself lost in a fairy land of sorts. This is good, because it means you’ve made it to Mexico City’s most spectacular hidden gem, Chimalistac. The name is Nahuatl for “place of the white shield” and was once home to an important town paying tribute to the Tepanecs, the major power in the Valley of Mexico before the rise of the Mexica (Aztecs). It’s lush and green, full of flowers, fountains and the occasional ancient chapel. Visitors in the know wander this little slice of quiet paradise in search of the few 16th-century stone bridges that still exist.
Bethany Platanella is a travel planner and lifestyle writer based in Mexico City. She lives for the dopamine hit that comes directly after booking a plane ticket, exploring local markets, practicing yoga and munching on fresh tortillas. Sign up to receive her Sunday Love Letters to your inbox, peruse her blog or follow her on Instagram.
Mexican director Alfonso Cuáron has for the last three years made short films for the Christmas holiday season. His latest is "An Almost Christmas Story." (X)
Mexican filmmaker Alfonso Cuarón, the Oscar-winning director of “Roma,” has produced his third short Christmas film in as many years.
Inspired by the true story of an owl that was trapped in the Rockefeller Center Christmas tree when it was cut down in the forest and transported to New York City, the 25-minute “An Almost Christmas Story” currently can be seen on the streaming service Disney+.
Cuarón in 2019 with three Oscars he won that year for the film “Roma.”
Cuarón, who turned 63 on Nov. 28, is a five-time Academy Award winner who has also won seven BAFTA Awards and three Golden Globe Awards. His 2018 feature film “Roma” won Oscars for best director and best cinematography. His Oscar for the 2013 space-survival film “Gravity” made him the first Latin American to win the Academy Award for best directing.
“An Almost Christmas Story” was written by Cuarón, director David Lowery (“A Ghost Story”) and Jack Thorne. It was produced by Cuarón, Lowery and Gabriela Rodríguez through Esperanto Filmoj, the TV and film production company owned by Cuarón.
The English-voice cast includes 8-year-old Cary Christopher (“Days of Our Lives”) as the little owl named Moon, John C. Reilly (“Boogie Nights”) as the folk-singing narrator and comedian Jim Gaffigan as Papa Owl, along with Mamoudou Athie (“Jurassic World Dominion”), Phil Rosenthal (“Somebody Feed Phil”) and Natasha Lyonne (“Russian Doll”).
A Collider review describes the short as not another routine Christmastime feature film but as one of “those sweet short-form stories that typically aren’t longer than 35 minutes [such as] ‘Rudolph the Red-Nosed Reindeer,’ ‘Santa Claus is Comin’ to Town’ and ‘A Year Without a Santa Claus.’”
“An Almost Christmas Story” follows the curious young owl, Moon, who unexpectedly finds himself stuck in a Christmas tree destined for Rockefeller Center. In his attempts to escape the bustling city, Moon befriends a lost girl named Luna. Together, they embark on a heartwarming adventure in which they form an unexpected bond and discover the magic of the holiday season.
“An Almost Christmas Story” is the third of Cuarón’s trilogy of Christmas shorts; he also produced “Le Pupille” by Italian director Alice Rohrwacher in 2022 and “The Shepherd” by English director Iain Softley in 2023. “Le Pupille” was nominated for an Academy Award for Best Action Short Film, and “The Shepherd” was shortlisted for the same award.
Rocky the saw-whet owl — discovered in a Norway spruce tree by the man delivering it to New York City’s Rockefeller Center — inspired Cuarón to write “An Almost Christmas Story.” (Ravensbeard Wildlife Center)
Disney+ is currently streaming all three shorts, but you have to sign up for a standard or premium plan to view them.
“It occurred to me that it could be a good starting point for a story about a rebellious child who, finding himself lost, rediscovers the importance of solidarity and family; it was very appropriate for Christmastime,” Cuarón told the newspaper Milenio.
Cuarón credited director David Lowery with creating “a really beautiful work” by using an “aesthetic that was not refined, but rather unfinished” — similar to craft projects Lowery made as a child using boxes and cardboard cutouts.
A press release from Disney referred to the short as “the third and final installment of Cuarón’s holiday collection for Disney+.”
However, when asked by Milenio columnist Susana Moscatel about the possibility of him making more holiday shorts, Cuarón was not so definitive.
“I would love to,” he said. “We’ll see what happens. It would be great to continue doing these kinds of stories in this format. I hope we do.”
An informal and rapacious money-lender. A loan shark.
Bolo
n. The gift given as a baptism present; usually money.
exclam. Traditionally shouted when cash falls to the floor, often in the form of coins, signifying a free-for-all where whoever grabs the money keeps what they gather.
“Aventar bolo” usually refers to people spending a lot of money. (Pixabay)
Codo adj.
Stingy or tight-fisted when it comes to money. This expression comes from the idea that a person might complain that their elbow hurts when it comes to getting their wallet out. The term is often substituted by an elbow-tapping gesture.
Jinetearv.
To rob, most often with the use of violence. From the days of mounted highwaymen, who would rob from horseback.
To turn a quick profit, with a small initial investment and minimal subsequent effort. To buy a six-pack of beers at the Oxxo and then sell them to tourists at the beach for double the price would be a perfect example.
Of an individual, to retain money that does not belong to them and spend it for other purposes, most often with the intention of using the extra money to make more, before paying what is owed.
Marroadj.
Stingy, or penny-pinching. Also codo.
Milky n.
The monetary amount of 1,500 pesos. An abbreviation of mil quinientos, or one thousand five hundred.
e.g. Me debes un Milky, wey. (You owe me fifteen hundred pesos, pal.)
Milpan.
A traditional agricultural field in which the “three sisters” of corn, squash and beans are produced.
The monetary amount of MXN $1,000. An adaptation of mil, or one thousand.
Pesetan.
The monetary amount of 25 pesos, although not commonly used nowadays.
A tax, or cut, of 25%.
e.g. Te dejo trabajar, pero me das la peseta.
I’ll let you work, but I want 25%.
Quiña n.
The monetary amount of 500 pesos. Abbreviation of quinientos, or five hundred.
Tostónn.
A squashed and fried slice of plátano macho.
The monetary amount of fifty pesos, traditionally a large thick coin, and so called given its similarity to the food.
A lady’s nipple, given similar size and shape to a tostón coin.
The monetary amount of fifty pesos, traditionally a large thick coin resembling a fried plantain slice. (Sebastian PH/Pexels)
Varon.
Colloquial term for the Mexican peso, equivalent of ‘bucks’ for U.S. dollars, or ‘quid’ for British pounds sterling.
A specific quantity of Mexican currency. Depending on the context, it can mean one peso or 1,000.
You can buy “The Mexican Slang Dictionary” on Amazon in the U.S., Canada and Mexico.
MND readers can find the physical book stocked in bookstores:
And lest you think Sectur-BCS is trying to rope in unsuspecting tourists, even The Oceanic Society — based in California, which boasts its own whale-watching season — describes the coast off the Baja California Peninsula as “one of the best places on earth for whale watching.”
The Baja California Peninsula has become world-famous for playing host to the gray whales’ mating and calving season each winter. (Ryan Stone/Unsplash)
In part, this was made possible by Mexico’s decision to create the San Ignacio Lagoon Nature Reserve in 1972 in Baja California Sur (after a chance encounter that year between a gray whale and a local fisherman named Francisco Mayoral) and its subsequent designation of the lagoon as a whale sanctuary within the El Vizcaíno Biosphere Reserve in 1988.
At the end of each summer, up to 1,500 California gray whales leave the cold Alaskan waters and journey to the warmer climes off the coast of the Baja California Peninsula, arriving by early December and remaining there for about three months.
As many as 1,500 gray whales make the journey from Alaska to the Baja Peninsula every year. (Sergio Martínez-PRIMMA-UABCS)
Here, whales mate, give birth and nurse calves conceived the year before, attracting tourists eager to see the world’s largest mammals up close.
The Oceanic Society explains that the unique geography of the peninsula and the diverse marine topography, which ranges from protective shallow lagoons to deep trenches rich with food, attract over 30 different species of whales and dolphins.
As a result, the National Resources Defense Council has referred to San Ignacio as “the last undisturbed breeding and calving lagoon” for the gray whale. Along with the nearby Scammons Lagoon (or Ojo de Liebre, near Guerrero Negro) and Magdalena Bay, these are the only places in the world where gray whales give birth. What makes the experience even more spectacular is that gray whale mothers regularly seek out human interaction, according to one tour operator.
The revival of the gray whale population has generated a thriving, heavily regulated and dedicated ecotourism industry, according to the BBC.
Whale watching has become a major draw for the peninsula in recent years. (Daniela Martinez Perez Vargas)
On its website, Baja EcoTours writes that the mothers “approach our boats to present their newborn calves to us while encouraging visitors to scratch their heads, back, and baleen as they lounge around our boats.” Another firm, Baja Expeditions, describes the San Ignacio Lagoon as “whale central,” where the gray whales participate in “human-watching and interaction.”
Protecting the whales
Mexico’s federal and state governments promote responsible tourism when whale-watching which is also possible farther south in Jalisco and Oaxaca.
Baja California Sur regulates the industry by issuing permits to tour operators and encourages tourists to rely exclusively on official operators.
Additionally, whale-watching is only allowed in specified areas of the protected whale sanctuaries, and there are strict rules:
Only 16 pangas (small fishing boats) are allowed at a time
All boats must turn off their motors when whales are nearby
Boat operators are prohibited from chasing or pursuing the whales
Although Baja California is best known for its gray whales, sightseers can also catch a glimpse of blue whales, fin whales, humpbacks, and even sperm whales feeding in the rich waters of the Gulf of California on the eastern side of the peninsula.
The drop in inflation has upended expectations that Mexico's central bank would ease off rate cuts this summer. (Shutterstock)
The Bank of Mexico’s benchmark interest rate will decline to 10% on Friday after the central bank’s governing board unanimously voted in favor of a 25-basis-point cut at a monetary policy meeting on Thursday.
Additional rate cuts appear likely in 2025, and some may even be larger than those implemented this year.
Thursday’s cut was the fifth time this year that the Bank of Mexico’s five-member board voted in favor of a 25-basis-point reduction to the central bank’s key interest rate. It came after the United States Federal Reserve cut its key rate by 25 basis points on Wednesday.
The Bank of Mexico’s overnight interbank interest rate, as it is officially known, was held at a record high of 11.25% between March 2023 and March 2024, when this year’s initial cut was made.
The reduction announced on Thursday was widely expected, even though Mexico’s annual headline inflation rate — 4.55% in November — remains above the 3% target of the Bank of Mexico (Banxico).
In a statement announcing the cut, the central bank noted that “annual headline inflation decreased from 4.76 to 4.55% between October and November.”
The bank’s governing board cited declining inflation as a reason for the rate cut. (Daniel Augusto/Cuartoscuro)
Banxico also acknowledged that “core inflation, which better reflects inflation’s trend, continued its clear downward trend, going from 3.80 to 3.58% in the same period.”
Banxico said that “looking ahead,” its governing board “expects that the inflationary environment will allow further reference rate reductions.”
“In view of the progress on disinflation, larger downward adjustments could be considered in some meetings, albeit maintaining a restrictive stance,” the bank said.
“… Actions will be implemented in such a way that the reference rate remains consistent at all times with the trajectory needed to enable an orderly and sustained convergence of headline inflation to the 3% target during the forecast period,” Banxico said.
The central bank anticipates that inflation will trend down in 2025 and 2026.
It is currently forecasting a 3.8% annual headline rate in the first quarter of 2025, with that rate predicted to fall to 3.5% in Q2, 3.4% in Q3 and 3.3% in Q4 of next year.
Banxico forecasts that the headline rate will continue to fall gradually in 2026 to reach the 3% target in the third quarter of that year.
Reuters reported that the Mexican peso “reversed earlier losses and strengthened marginally against the dollar following Banxico’s rate decision.”
It was trading at 20.31 to the US dollar shortly before 4 p.m. Mexico City time.
The plan features a portfolio of "very important" investments, which authorities hope will soothe the nerves of investors shaken by the political changes in the U.S. (Mario Jasso/Cuartoscuro)
President Claudia Sheinbaum responded to both good and bad news at her morning press conference on Thursday: a flattering poll result and the murder of a federal agent.
She also revealed that she would like to see a woman appointed to one of the world’s most important jobs.
While President Sheinbaum’s Thursday mañanera addressed the assassination of a federal Security Ministry agent in Sinaloa, it had lighter moments too, such as when she discussed a new poll that showed her current popularity rating to be 76%. (Mario Jasso/Cuartoscuro)
High approval rating recognizes entire cabinet, says Sheinbaum
The president declined to take complete credit for the high rating, stressing that while she is the leader of the government, its work is undertaken by a team of people.
“That is important,” she said. “If we didn’t have the cabinet we have, with colleagues who have a lot of experience, … we wouldn’t have the results we have now,” Sheinbaum said.
She noted that the poll also asked respondents to offer an opinion on various federal ministers. More than 70% of respondents had “very good” or “good” opinions of Security Minister Omar García Harfuch, Foreign Affairs Minister Juan Ramón de la Fuente and Economy Minister Marcelo Ebrard.
Four other ministers — Interior Minister Rosa Icela Rodríguez, Education Minister Mario Delgado, Finance Minister Rogelio Ramírez de la O and Energy Minister Luz Elena González — were regarded positively by 60% or more of those polled.
President Claudia Sheinbaum, left, and Foreign Affairs Minister Juan Ramón de la Fuente, on a call with U.S. President-elect Donald Trump on Nov. 27. De la Fuente was one of three members of Sheinbaum’s cabinet of whom respondents to a recent El Pais poll said they a “very good” or “good” opinion. (Claudia Sheinbaum/X)
All of the ministers have “very good ratings,” Sheinbaum said.
“He went there yesterday; he’ll be there for a period, strengthening security actions,” Sheinbaum said.
The president noted that she will travel to Sinaloa on Sunday, and that the federal security cabinet will hold a meeting in the Pacific coast resort city of Mazatlán.
A fierce war between rival factions of the Sinaloa Cartel has claimed hundreds of lives in recent months and sowed fear among residents of Sinaloa, especially those who live in Culiacán, the state capital, where most of the violence has been focused.
Mexico to back appointment of first female secretary-general of the UN
Sheinbaum confirmed that she spoke to Colombian President Gustavo Petro about their desire to support female candidates as the next heads of both the United Nations (UN) and the Organization of American States (OAS).
Neither organization has had a female secretary-general.
Sheinbaum hosted Colombian President Gustavo Petro on Monday at the National Palace for an informal private meeting between the two world leaders. (Cuartoscuro)
Sheinbaum said that she and Petro, who visited Mexico this week, didn’t speak about any specific candidates who they would support, but discussed “starting to work” toward the appointment of females as leaders of the UN and OAS.
She said that Foreign Affairs Minister Juan Ramón de la Fuente and her chief of staff, Lázaro Cárdenas Batel, would work on the issue.
The next UN secretary-general will take office in 2027, while a new OAS chief will be appointed next year.
By Mexico News Daily chief staff writer Peter Davies (peter.davies@mexiconewsdaily.com)
A security ministry investigator was ambushed and killed Wednesday afternoon in a "targeted attack," according to Sinaloa Governor Rubén Rocha Moya. (José Betanzos/Cuartoscuro)
Mexico’s Security Minister Omar García Harfuch returned to the battle-scarred state of Sinaloa for the second time this month after one of his federal agents was slain Wednesday in Culiacán, in an attack attributed to organized crime.
President Claudia Sheinbaum told reporters during her Thursday morning press conference that García Harfuch will remain in the northwestern state for an undefined period of time.
After a federal agent was targeted and killed, Security Minister García Harfuch returned to oversee the state’s security operations. (Galo Cañas/Cuartoscuro)
Sheinbaum also said she will meet with the security minister and Sinaloa Governor Rubén Rocha in the southern resort town of Mazatlán on Sunday.
Early Wednesday, Security Ministry (SSPC) investigator Halexy Guadalupe Velderrain Con was ambushed and killed in Culiacán.
While the SSPC did not provide additional details at the time, at least one other agent was reported wounded, according to the newspaper El País, which added that witnesses told local media they had seen two men on a motorcycle approach the SSPC vehicle and open fire.
García Harfuch visited the scene where a federal agent was killed in Culiacán on Wednesday. (José Betanzos/Cuartoscuro)
On Thursday, García Harfuch met with the Sinaloa governor. After the meeting, Rocha confirmed that the agent’s death was the result of a “targeted attack.”
No end in sight to internecine drug war
Sinaloa — and especially Culiacán — has been the scene of near-daily violence since rival factions of the Sinaloa Cartel took up weapons against each other in early September.
Since then, more than 600 people have been murdered and over 900 people have been kidnapped or “disappeared,” according to the magazine Proceso.
The state’s economy has been paralyzed as businesses have closed down or dramatically shortened hours of operation, prompting Governor Rocha to start distributing cash to mitigate the impact of the drug war.
State business leaders say the violence has cost the state economy at least 18 billion pesos.
Last Saturday, a mid-day shootout in which more than 300 rounds were fired off occurred near a baseball park in Culiacán where Little League games were taking place. For five minutes, players and fans lay on the field waiting for the gunfire to stop.
The next morning, another five-minute-long firefight took place in a residential area of the state capital. One property was shot up as was a recently inaugurated fire station, damaging several fire trucks.
Some online companies have refused to make deliveries in the state due to concerns about the safety of highway travel. There have been shootouts along the Mazatlán-Culiacán highway — where bodies have also been regularly dumped along the road, Proceso reports.
Concern about the public’s psychological health has prompted the Autonomous University of Sinaloa to offer virtual counseling to residents who might be suffering from PTSD, anxiety disorders and shock.
Even the army is not safe from the violence. On Wednesday, the same day the SSPC agent was killed, soldiers were ambushed in the village of Elota.
The attack resulted in a rapid reaction from the armed forces which summoned the National Guard. Witnesses reported seeing military helicopters transport several wounded soldiers out of the area, according to the online news site Infobae.
