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Banxico's Heath Says Will Not Lower Rates For At Least Three Meetings

MEXICO
  • Comments hittign the wires from Banxico Deputy Governor Heath:
  • MEXICO OUTPUT GAP IS TURNING POSITIVE
  • MEXICO'S HEATH SEES 'FRAGILE' DOWNTREND IN CORE INFLATION
  • BANXICO WILL NEED TO HOLD RATES FOR A PROLONGED PERIOD
  • BANXICO WILL NOT LOWER RATES FOR AT LEAST THREE MEETINGS
  • BANXICO MAY BE ABLE TO CUT IN NOVEMBER, IF NO SURPRISES
    • For reference, this meeting occurs on November 09.
  • SAYS ONE BANXICO CUT DOES NOT MEAN START OF CYCLE
  • RESTRICTIVE STANCE LIKELY NEEDED IN MEXICO UNTIL MID 2024

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