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Banxico’s Espinosa Says There Is Need For An Additional Monetary Effort

MEXICO
  • In a Bloomberg TV interview, Banxico’s longest serving board member, Irene Espinosa, highlighted that core inflation pressures have been very stubborn and that “there is the need for an additional monetary effort”. Comments may bolster the likelihood of an additional rate hike at the March 30 decision, although this remains the most likely outcome among sell-side forecasters at this point.
    • “The prints of inflation lately have brought some good news, nevertheless we’re in a very complex and uncertain environment, so we’ve to be very careful about how to give forward guidance,” Espinosa said.
  • On the recent turmoil in financial markets, Espinosa said:
    • “All of the central banks in the world are worried about what’s happening in the banking sector,” she said Wednesday. “I would say we are confident the Mexican banking sector is in a very resilient condition. It’s well capitalized, there’s enough liquidity.”
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