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Banxico Governor Says Inflation Will Stabilise and Continue Downward Trend

MEXICO
  • The increase in inflation has not been an issue of concern for the Banxico, according to the bank’s governor, Victoria Rodríguez Ceja. On the contrary, it is expected to return to its downward trend and continue the country's disinflationary process, speaking in an interview with El Financiero.
  • “These supply shocks, like the one we are observing, tend to reverse relatively quickly, so the effects on inflation are not lasting.” Despite the recent rebound for headline inflation due to the non-core component that is volatile, “it is not qualitatively different from what we were seeing at the end of last year,” remarked the governor of the Central Bank.
  • “Now contemplating the possibility of downward adjustments in our reference rate does not mean that the priorities or position of the Governing Board have changed. "In reality, it is a reflection that the inflationary episode has been evolving and that the situation we find ourselves in now is very different from the one we experience in 2022, even in the first months of 2023."
  • “We do not follow the mechanics of the Fed..., each institution takes into account all the internal and external factors that could affect its outlook and this is why we have a difference between the monetary cycles of the countries,” concluded the central banker.
  • Full article here: https://www.elfinanciero.com.mx/economia/2024/02/1...
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