TEST, PLEASE IGNORE

MNI BRIEF: Sharp Cut To German Growth Outlook - Joint Forecast

BOE FPC SEES OVERALL RISK ENVIRONMENT 'CHALLENGING'

MNI BRIEF: President Xi Meets With U.S. Business Leaders

MNI DATA TABLE: MNI China Interbank Liquidity Index (Mar) - 3

MNI BRIEF: Improve Asian Financial Safety Net - PBOC Governor

US Treasury Auction Calendar

Riksbank Data Watch

US EIA: CRUDE OIL STOCKS EX SPR +3.16M TO 448.2M MAR 22 WK

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Banxico Nominee Rodriguez Defends Monetary Policy Experience

MEXICO
  • Further comments from Banxico Governor nominee Rodriguez as she defends her experience/requirements in front of the Senate late yesterday:
    • Banxico has taken necessary measures on CPI
    • Stopping capital flight isn't in Banxico's mandate
    • My work on budget has involved monetary policy and my experience meets Banxico requirements
    • Banxico single mandate must be maintained
    • Banxico can't directly control causes of CPI spike and the bank must be cautious to avoid unintended effects.
    • I will follow law regarding Banxico reserves (all BBG)
  • Analysts appear to see little additional indications from the quarterly inflation report with Goldman Sachs describing the report as providing “no clear or actionable policy rate signals beyond those conveyed at the Nov 11 MPC meeting”.
    • Goldman Sachs believe the open question at this stage is whether at the next meeting the MPC will maintain the pace of hiking at 25bp, or accelerate to 50bp.
    • Barclays continue to expect additional hikes of 25bp in next two meetings. After that, a pause might be implemented in order to leave space for the expected hiking cycle from the US Fed, but this could be short-lived.
  • Separately, The Biden administration has reached a deal with the Mexican government to restart the Trump-era "Remain in Mexico" program that requires asylum seekers to wait outside U.S. territory while their claims are processed, two U.S. officials and a Mexican government official said late Wednesday. (WaPo)
    • The governments are planning to announce the agreement Thursday.
BulletEM BulletEmerging Markets NewsHomepage
BulletEM BulletEmerging Markets NewsHomepage

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.