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Citi Survey Shows Analysts Raise CPI Forecast, Expect Hike Next Week

MEXICO

US employment data headlines the docket and will likely be the main driver for markets on Friday. Change in NFP estimate is for around +858k.

  • Mexico Analysts Raise 2021 CPI Est. to 6.00% Vs. 5.80%: Citi
    • Within the published results of biweekly analysts' survey the next rate move is expected to be a 25bps hike in August.
  • Markets will await the Monday July CPI data with analysts still divided on whether June's pre-emptive move may have been the initiation of a tightening cycle, despite Banxico deliberately not signalling that this was the case in their statement.

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