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Banxico Minutes, Ebrard Optimistic Over Trade Dispute Agreement

MEXICO
  • Banxico Minutes will be released at 1500BST/1000ET.
  • As a reminder, at the August meeting Banxico unanimously decided to hike the overnight rate by 75bps to 8.50%. In a slight dovish tweak to the forward guidance paragraph, the phrase “same forceful measures” was not included. Instead, the MPC will now assess the future magnitude of hikes “based on the prevailing conditions”.
  • Foreign Minister Confident No Arbitration Panel Needed Over USMCA Dispute
  • Mexico hopes it can resolve a trade dispute with the United States before the matter reaches an arbitration panel, Foreign Minister Marcelo Ebrard said on Wednesday. [Reuters]
  • Speaking as officials hold talks over a U.S.-led complaint against Mexico's plans to strengthen state control of energy at the expense of private firms, Ebrard said his basic scenario was that a deal would be reached and that "we don't have a panel."

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