The amount accepted was lower than expected.

The market is getting ready for re-election to go ahead.

A backdrop of monetary tightening, high commodity prices, robust productivity growth and buoyant activity will continue to offer support to the peso.

Investment spending continues to be very vigorous. There was 26 percent growth in investment in the first half of the year.

Despite the recent pickup, total investment spending in the economy is still lower than the level of 2001 and, as a share of GDP...below the 1997-2000 average.

The government continues to save a substantial part of the copper price windfall and the extraordinary tax revenues derived from an economy that continues to expand above trend.