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MEXICO: Banxico Interest Rate Decision Due In 30 Minutes

MEXICO
EM BulletMexicoBulletEmerging Market NewsNorth America
  • A reminder that Banxico is expected to deliver a 50bp cut to 9.50% at 1900GMT(1400ET), in line with prior dovish rhetoric, which indicated that larger downward adjustments could be considered in some meetings.
  • Supporting a bolder cut is the continued progress lower for headline inflation, weaker-than-expected domestic GDP data and the loss of one of the most hawkish voices of the committee.
  • Amid the heightened tariff uncertainty and associated MXN sensitivity, analysts had been split over the potential Banxico response. But the latest tariff delay leaves a bolder rate cut as the most likely move at this juncture.
    • See the MNI preview with analyst views here. 
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  • A reminder that Banxico is expected to deliver a 50bp cut to 9.50% at 1900GMT(1400ET), in line with prior dovish rhetoric, which indicated that larger downward adjustments could be considered in some meetings.
  • Supporting a bolder cut is the continued progress lower for headline inflation, weaker-than-expected domestic GDP data and the loss of one of the most hawkish voices of the committee.
  • Amid the heightened tariff uncertainty and associated MXN sensitivity, analysts had been split over the potential Banxico response. But the latest tariff delay leaves a bolder rate cut as the most likely move at this juncture.
    • See the MNI preview with analyst views here.