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MNI Banxico Review - May 2022: Opens Door to More Aggressive Policy

Hawkish policy statement adds upside risk to terminal rate

Executive Summary:

  • Banxico raise rates by 50bps to 7.00%, alongside expectations
  • The board were split 4-1 in the vote, with Espinosa opting for 75bps hike
  • Despite upward revision to inflation expectations, convergence to target still pegged at Q1 2024
Full review including summary of sell-side views here:

MNIBanxRevMay22.pdf

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Executive Summary:

  • Banxico raise rates by 50bps to 7.00%, alongside expectations
  • The board were split 4-1 in the vote, with Espinosa opting for 75bps hike
  • Despite upward revision to inflation expectations, convergence to target still pegged at Q1 2024
Full review including summary of sell-side views here:

MNIBanxRevMay22.pdf

Keep reading...Show less