Mexico must work on macroeconomic consolidation-Stability Council

MEXICO CITY, March 13 Fri Mar 13, 2015 8:15pm EDT

MEXICO CITY, March 13 (Reuters) - Looming U.S. rate hikes are the main risk facing the Mexican economy, the country's Financial System Stability Council said on Friday, stressing the need to keep working to consolidate macroeconomic stability.

It said that the expected spread between monetary policy in the United States and other developed economies had stoked financial market volatility, and had strengthened the dollar.

Mexico's peso slumped to record lows this week, prompting the central bank to step up auctions of dollars in a bid to stem the slide. (Reporting by Joanna Zuckerman Bernstein)

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