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One Hour Call - MNI Banxico Preview

MEXICO
  • All analysts are expecting Banxico to keep rates unchanged at 11.25%, in line with prior guidance from the committee.
  • A marginal softening of the inflation data, combined with the committee’s most recent rhetoric point to this being a straightforward decision for the committee and one that can be made without any dissents.
  • However, markets will pay attention to any tweaks to the statement language and the updated set of inflation projections for further clues on when an easing cycle can be expected.
  • The full preview with analyst views is here: https://roar-assets-auto.rbl.ms/files/54275/MNI%20Banxico%20Preview%20-%20June%202023.pdf

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