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MEXICO: MNI Banxico Preview – Sep 2024

MEXICO
EM BulletMexicoBulletGlobalEmerging Market NewsRegion
  • Banxico is expected to cut the overnight interbank interest rate by 25bp to 10.50%, supported by further progress on the disinflation front and amid ongoing concerns surrounding growth.
  • Domestic uncertainty related to Morena’s constitutional reform initiative has placed pressure on MXN, which could become a concern should there be a further deterioration.
  • However, the Fed’s bolder move to initiate its easing cycle should provide the Banxico committee with the required flexibility to continue with an easing strategy.
    • The full MNI preview with analyst views is here. 
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  • Banxico is expected to cut the overnight interbank interest rate by 25bp to 10.50%, supported by further progress on the disinflation front and amid ongoing concerns surrounding growth.
  • Domestic uncertainty related to Morena’s constitutional reform initiative has placed pressure on MXN, which could become a concern should there be a further deterioration.
  • However, the Fed’s bolder move to initiate its easing cycle should provide the Banxico committee with the required flexibility to continue with an easing strategy.
    • The full MNI preview with analyst views is here.