BARKIN: FED SHOULD ACT DELIBERATELY, KEEP CLOSE EYE ON ECONOMY

MNI BRIEF: China Equip't Renewal Policy Includes Foreign Firms

MNI China Daily Summary: Wednesday, July 17

MNI China Press Digest July 17:  Investment, LPR, H2 Priority

MNI: PBOC Net Injects CNY268 Bln Via OMO Wed; Rates Unchanged

CHINA PBOC CONDUCTS CNY270 BILLION VIA 7-DAY REVERSE REPOS WED

MNI: US JUN INDUSTRIAL PROD +0.6%; CAP UTIL 78.8%

Foreigners Buy CAD20.9B of Canada Securities In May Led By Debt

MNI: US JUN HOUSING STARTS 1.353M; PERMITS 1.446M

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

MNI Mexico Central Bank Review – June 2024: Dovish Hold, With Dissenting Vote

Banxico’s governing board decided to keep the overnight rate unchanged at 11.00%, in line with expectations

Bank of Mexico - ReviewHomepageLatAm Bank - ReviewEM Central Bank ReportsEM Central Bank ReviewEmerging Market News

Executive Summary

  • Banxico’s governing board decided to keep the overnight rate unchanged at 11.00%, in line with expectations. The decision was split 4-1, with Deputy Governor Mejía voting for a 25bp cut.
  • The accompanying statement had a dovish tilt, with the board noting the downward risks to growth, while the inflation outlook is expected to allow for the discussion of more rate cuts.
  • Analysts expect Banxico to resume cutting ahead, potentially at the next meeting in August, but for it to proceed cautiously with some seeing further pauses along the way.

Click here to view the full review:

MNI Banxico Review - June 2024.pdf

109 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

Executive Summary

  • Banxico’s governing board decided to keep the overnight rate unchanged at 11.00%, in line with expectations. The decision was split 4-1, with Deputy Governor Mejía voting for a 25bp cut.
  • The accompanying statement had a dovish tilt, with the board noting the downward risks to growth, while the inflation outlook is expected to allow for the discussion of more rate cuts.
  • Analysts expect Banxico to resume cutting ahead, potentially at the next meeting in August, but for it to proceed cautiously with some seeing further pauses along the way.

Click here to view the full review:

MNI Banxico Review - June 2024.pdf