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MEXICO: Analysts Expect Next 25bp Banxico Rate Cut In February

MEXICO
EM BulletMexicoBulletEmerging Market NewsNorth America
  • Analysts expect a 25bp policy rate cut to 9.75% at the next Banxico monetary policy meeting on February 6, according to the latest Citi survey of economists, which has just been published. The policy rate is seen ending this year at 8.50%, unchanged from the previous survey on Dec 18, but up from 8.00% in previous surveys before that.
    • The year-end headline inflation forecast for this year inched up to 3.91%, from 3.90%, while the core CPI estimate for end-2025 edged up to 3.71%, from 3.70%.
    • The GDP forecast for 2024 was unchanged at 1.6%, but the 2025 estimate declined by 20bp to 1.00%.
    • The 2025 year-end USDMXN forecast edged down to 20.95, from 21.00.
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  • Analysts expect a 25bp policy rate cut to 9.75% at the next Banxico monetary policy meeting on February 6, according to the latest Citi survey of economists, which has just been published. The policy rate is seen ending this year at 8.50%, unchanged from the previous survey on Dec 18, but up from 8.00% in previous surveys before that.
    • The year-end headline inflation forecast for this year inched up to 3.91%, from 3.90%, while the core CPI estimate for end-2025 edged up to 3.71%, from 3.70%.
    • The GDP forecast for 2024 was unchanged at 1.6%, but the 2025 estimate declined by 20bp to 1.00%.
    • The 2025 year-end USDMXN forecast edged down to 20.95, from 21.00.