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Herrera Confirms AMLO Reconsideration For Governor, Inflation Data Due

MEXICO
  • Recapping yesterday's news – Initial reports from Arena Publica that President AMLO had revoked the nomination of Arturo Herrera as Banxico Governor were confirmed.
    • In a tweet, Herrera confirmed that the President informed him that he had decided to reconsider his appointment a week ago.
  • Deputy Governor Esquivel tweeted his disappointment to the news, stating, "I am very sorry that the country has missed the opportunity to have him in such a responsible position."
  • Mexico Senate majority leader, speaking to the press, said he expects a Banxico nomination in the next few days, adding that AMLO can still renominate Herrera, or another person.
  • Mid-month inflation data due at the top of the hour:
    • 1200GMT/0700ET: Nov. Bi-Weekly CPI, est. 0.51%, prior 0.38%
    • 1200GMT/0700ET: Nov. Bi-Weekly CPI YoY, est. 6.86%, prior 6.36%
    • 1200GMT/0700ET: Nov. Bi- Weekly Core CPI, est. 0.07%, prior 0.20%
  • Core inflation may increase to 5.6% from 5.3% in the same period. Core goods inflation is likely to extend its uptrend, still under pressure from global prices and supply disruptions. Core services is likely to advance too, in line with recovering demand and some spillover from food and fuel to services tariffs. (BBG)
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