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Mexico's Senate on Thursday voted to give central bank governor Agustín Carstens another 6-year term at Banxico, at a time when the bank has presided over low inflation but still confronts sluggish economic growth and a depreciating local currency.
The vote was to extend Carstens term on the bank's main policy-setting board, but he is widely seen as maintaining his role at the helm of the bank.
Under his tenure, the bank has cut interest rates to a record low of 3 percent, while also launching the publication of meeting minutes after monetary policy decisions.
The central bank chief, who served as finance minister under former President Felipe Calderón and worked at the International Monetary Fund, is slated to keep his post through December 2020. His prior appointment, made in December 2009, was set to expire in December of this year.
