President Claudia Sheinbaum faced questions on a range of topics at her Wednesday morning press conference, including the Bank of Mexico’s monetary policy, a report by The Wall Street Journal and Mexico’s representation at the upcoming World Economic Forum meeting in Switzerland.
She also responded to U.S. President Donald Trump’s assertion that the USMCA free trade pact provides “no real advantage” to the United States. (Read Mexico News Daily’s report on Trump’s remarks and Sheinbaum’s response here.)
Here is a recap of Sheinbaum’s Jan. 14 mañanera.
Sheinbaum praises Bank of Mexico governor, as Moody’s asserts that Mexico’s monetary policy has ‘lost credibility’
Asked about the importance of maintaining a “healthy distance” between the federal government and the Bank of Mexico (Banxico) and its formulation of monetary policy, Sheinbaum said that the autonomy of the central bank is “very important.”
She went on to praise Banxico governor Victoria Rodríguez, saying that she has done a “very good” job as governor of the central bank.
“She’s a very professional woman, very studious,” Sheinbaum said.
The president subsequently noted that Rodríguez, “with the support” of Banxico’s deputy governors, has been lowering the central bank’s benchmark interest rate.
Indeed, the bank’s board cut the key rate by 300 basis points in 2025, even though inflation remained well above Banxico’s 3% target throughout the year. The bank’s interest rate is currently set at 7%.
Sheinbaum’s remarks about Rodríguez and Banxico came two days after the economic research subsidiary of credit rating agency Moody’s released a paper asserting that “a premature easing” of interest rates in Mexico “has eroded the central bank’s credibility.”
“Building credibility requires a significant amount of time and effort, but losing it is relatively easy,” states the Moody’s Analytics document, authored by the company’s director for Latin America, Alfredo Coutiño.
“Unfortunately, Mexico’s monetary policy has lost credibility in recent years. Neither the market nor analysts believe that the current policy is effective in achieving the inflation target,” Coutiño wrote.
“… To achieve inflation convergence and, consequently, restore credibility, the central bank needs to manage monetary policy with a strong commitment to price stability. This means making a decisive shift: reversing monetary easing,” he wrote.
Sheinbaum: US has never pressured Mexico to arrest Morena politicians with suspected cartel ties
A reporter asked the president about a Wall Street Journal report that, citing unnamed sources, said that high-level Mexican security officials “have held a series of private meetings since [Venezuelan President Nicolás] Maduro was deposed where they discussed the possibility of untenable demands from Trump beyond U.S. military action, including the potential arrests of politicians from Sheinbaum’s party the U.S. believes have cartel ties.”
Sheinbaum said that the idea of arresting Morena party politicians has “never” been raised by the U.S. government, not in security meetings between Mexican and U.S. officials nor in her numerous telephone conversations with Trump.
Last year, the president described reporting from Reuters that the Trump administration is pressuring Mexico to go after politicians with suspected narco ties as “completely false.”
On Wednesday morning, a reporter noted that it has been said that the U.S. government is pressuring Mexican authorities to investigate people such as Sinaloa Governor Rubén Rocha Moya and former Tabasco governor Adán Augusto López Hernández, currently Morena’s leader in the Senate.
Sheinbaum said that only “some media outlets, and not the media” in general, “say that.”
“… The Wall Street Journal report, [although] I don’t know exactly what it said, … has nothing to do with what was spoken about in [Monday’s] call [with Trump],” she said before reiterating that the detention of Morena party politicians has “never” been raised in talks with the U.S. government.
Environment minister to represent Mexico at WEF meeting
Sheinbaum told reporters that Environment Minister Alicia Bárcena will represent the Mexican government at the World Economic Forum’s annual meeting in Davos, Switzerland, later this month.
She said that Bárcena will speak about “development with justice” as well as the “Mexican model” and environmental issues at the meeting.
The environment minister has plenty of experience on the world stage, having served as foreign affairs minister between 2023 and 2024 and Mexico’s ambassador to Chile before that.
Bárcena also served as executive secretary of the United Nations Economic Commission for Latin America and the Caribbean between 2008 and 2022.
Sheinbaum said that Altagracia Gómez, head of the government’s Advisory Council for Regional Development and Relocation, will also attend the Jan. 19-23 WEF meeting in Davos, which will bring together political, business and civil society leaders from around the world.
By Mexico News Daily chief staff writer Peter Davies (peter.davies@mexiconewsdaily.com)
