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AMLO Meets With Colombia’s Petro

MEXICO
  • President AMLO gives daily press briefing and later has breakfast with Colombian President Gustavo Petro. Colombian and Mexican delegations will meet and Petro then meets Mexico City Mayor Claudia Sheinbaum.
  • In yesterday’s Banxico minutes, Esquivel elaborated on his case for slower increases, saying that excessive monetary tightening might imperil financial and macro stability, while the peso’s strength cuts the risk of raising interest rates at a slower pace than the US.
    • With some members of the board signalling they’d be open to slowing the pace of interest rate rises, a 50bp rate rise in December seems a very likely outcome.
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