Free Trial

Banxico Lower 2022 GDP Forecast, Economist Survey Due

MEXICO
  • A resilient greenback has kept the Peso slightly on the backfoot despite yesterday’s recovery in equity indices and the relentless surge in commodities. Resistance levels to watch are; 20.7893, Feb 4 high (briefly probed yesterday) and 20.9141, Jan 28 high. The latter is a key resistance and a break is required to signal a potential reversal of the recent bearish technical outlook.
  • Banxico lowered their GDP forecast from 3.2% to 2.4% in its Quarterly Inflation Report for the October-December 2021 period.
    • However, the central bank raised its growth forecast for 2023, from 2.7% in its previous report to 2.9%. Inflation forecasts were unchanged from the February central bank statement.
  • Banxico to release its economist survey with outlooks for economic growth, inflation and currency. Publication at 1500GMT/1000ET.

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.