MEXICO CITY, July 9 (Reuters) - The deputy governor of Mexico's central bank said in a monetary policy speech on Monday that given high uncertainty and risks, "erring on the side of caution will usually be preferable."
Deputy Governor Javier Guzman also said in a speech in London that as uncertainty levels increase, coordinated use of policy instruments are advantageous. He added that efforts to bring down inflation had so far been "encouraging."
"Economic activity has not been significantly affected by the monetary policy stance," he said, according to a transcript of his remarks delivered at the European Economics and Financial Centre, and released by the Banco de Mexico.