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Banxico Seen Keeping Pace on Rate Rises

MEXICO
  • Banxico decision due later today – 1300 local time / 1900GMT / 1500ET. Bank are expected to hike rates by 50bps to 6.50%, although there remains a risk that a number of board members could opt for a larger 75bps hike today.
  • Full preview inc. sell-side views here: https://marketnews.com/mni-banxico-preview-march-2...
  • Starting at 0900 local time, the Mexico Banking Association hold an event featuring Finance Minister Ramirez, President AMLO, deputy Finance Minister Yorio as well as Banxico governor Rodriguez.
  • While the timing of the rate decision release today has been unchanged, the Banxico meeting to both decide policy as well as the accompanying statement was brought forward – both concluding yesterday evening to accommodate today’s banking event.
  • Bi-Weekly CPI data crosses at 0800ET / 1200 GMT alongside retail sales for January. Markets expect retail sales to have grown 0.2% on the month and 6.1% on a Y/Y basis.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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