It is a pleasure to offer a few remarks at this conference marking the 20th anniversary of the Bank of Mexico's independence. In August 1993, Mexico's congress approved changes to the country's constitution that granted policy autonomy to the Bank of Mexico and made price stability its primary mandate. Over the past two decades, these actions, along with a number of other constructive steps taken by Mexican policymakers, have paid substantial dividends in terms of improved economic performance. At the time that the Mexican congress changed the status and mandate of the central bank, the nation's economy had been ... (full story)