MNI BRIEF: Trump Likely To Let Powell Serve Full Term-Moore

MNI BRIEF: Canada Household Debt Tops $3 Trillion In 3Q

MNI BRIEF: Trump Likely To Allow Powell To Serve Term - Moore

MNI INTERVIEW2: Poland To Push For EU Defence Fund

MNI BRIEF: China To Keep Stabilising Housing Market - CEWC

MNI BRIEF: China Focus On Boosting Consumption In 2025

EZ/UK Bond Supply Calendar: Belgium ORI Facility on Friday

US EIA:NAT GAS STORAGE -190 BCF TO 3,747 BCF DEC 06 WK

MNI: US JOBLESS CLAIMS +17K TO 242K IN DEC 07 WK

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Analyst Views on Banxico Minutes

MEXICO
  • In JP Morgan’s view, the minutes confirmed that the board pivoted dovishly and is on the watch for additional evidence that it is “prudent” to continue with gradual rate cuts. JPM’s take is that there are three members already leaning dovishly and two hawkish members who continue to advocate a harder line. JPM expect a 25bp cut in August, aided by a more benign external backdrop, in a 4-1 decision at least and possibly unanimously.
  • Goldman Sachs also forecasts a 25bp rate cut in August in a split decision, with the policy rate reaching 10.0% by end-2024. In their assessment, the minutes contain clear dovish undertones and were overall a bit softer than expected. Most directors expect the disinflation dynamics to continue and there is an increasing focus on the softness of recent real activity: the balance of risks for activity is now judged as skewed to the downside for the majority of directors.
  • In Scotiabank’s view, given the loose bias of the minutes, with three members favouring a less restrictive stance going forward, there is a strong chance that the central bank will resume its easing cycle in August if there are no major surprises in the inflation data and if there are more signs of weakening economic activity.
EM BulletHomepagemarkets-real-timeBulletEmerging Market News
EM BulletHomepagemarkets-real-timeBulletEmerging Market News

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.