West Texas Intermediate crude rose for a third day as speculation the Federal Reserve will maintain economic stimulus boosted the demand outlook in the world’s biggest oil user. Brent’s premium to WTI narrowed.
Central bankers from Japan and the U.K. predicted their new campaigns to encourage expansion will work, sustaining support for global growth even as the Federal Reserve considers a reduction in stimulus.
Mexico’s key interest rate, cut to a record low in March, is in line with the central bank’s goal of lowering annual inflation to 3 percent as the peso weakens amid slower growth, central bank Governor Agustin Carstens said.
Mexico’s central bank Governor Agustin Carstens called on the Federal Reserve to clarify plans for tapering its $85 billion in monthly bond purchases, saying emerging economies face their “most pressing challenge” from advanced economies exiting stimulus.