Mexico central bank governor Agustin Carstens said on Friday he is “implicitly” factoring in the possibility of Republican hopeful Donald Trump becoming U.S. president in the bank’s economic risk models.
In an interview with El Financiero/Bloomberg Carstens was asked whether the chances of Trump, a persistent critic of the North American Free Trade Agreement, becoming the next president of the United States was in the central bank’s risk models.
“Well, explicitly, no,” Carstens said. “But implicitly all of us have it in our heads, this possibility.”
For more on Trump, watch:
“Our monetary policy will above all be led by … the exchange rate, the monetary policy relative to the United States and the inflationary pressures that could occur due to the economic cycle in Mexico,” the central bank governor said.
Trump, front-runner to win the Republican presidential nomination for the Nov. 8 election, sparked outrage in Mexico with campaign vows to slap tariffs on Mexican exports and to build a southern border wall and make Mexico pay for it.
Mexican President Enrique Pena Nieto said this month his country would not pay for Trump’s proposed wall along the U.S.-Mexico border, and likened his “strident tone” to the ascent of dictators like Adolf Hitler and Benito Mussolini.