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Deputy Governor Borja Also Highlighting Patient Approach

MEXICO
  • Bank of Mexico will act patiently and without haste in the face of upward risks for inflation and possible price spikes within a disinflationary process, Deputy Governor Galia Borja told Bloomberg Línea.
  • Among the upward risks are, first of all, the persistence of underlying inflation at relatively high levels, possible exchange rate depreciations and further transfer of cost pressures, the central banker indicated in an interview on the sidelines of the 87th Banking Convention.
  • This echoes a consistent message from Banxico in recent days, highlighting that a pause at the May meeting appears the most likely option.
  • Earlier we noted, Deputy Governor Heath said that’s he’s leaning toward a pause in May, which he said is likely to be a unanimous decision.
  • USDMXN has risen to 17.20 in recent trade, continuing to highlight a corrective technical cycle at this juncture.
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