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Banxico Stays On Hold At 11%, As Expected, In Unanimous Decision

MEXICO
  • Banxico will remain in a data dependent mode, focused on inflation, going forward:
  • "Looking ahead, it will assess the inflationary environment in order to discuss reference rate adjustments. It will also consider the incidence of both the restrictive policy stance that has been maintained and that prevailing in the future on inflation throughout the horizon in which monetary policy operates. Actions will be implemented in such a way that the reference rate remains consistent at all times with the trajectory needed to enable an orderly and sustained convergence of headline inflation to the 3% target during the forecast period."
  • The complete set of revised inflation forecasts were set out in the following table within the statement:

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