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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.
BANXICO
- Banxico raises intererest rates by 75bps to 9.25%, alongside expectations.
- Full bank statement here: https://www.banxico.org.mx/canales/%7BFD9016AD-774...
- New inflation forecasts higher 0.1ppts for Q3'22, 0.5ppts for Q4'22 and higher by 0.8 - 1.1ppts through 2023
- All-in-all a relatively neutral rate decision, broadly inline with expectations (hike of 75bps, higher inflation forecasts this year and the next).
- On forward guidance, the bank still flag downside risks, and note they are to be largely data dependent going forward: "The Board will assess the magnitude of the upward adjustments in the referencerate for its next policy decisions based on the prevailing conditions."
- USD/MXN little changed, trades middle of the day's range at 20.1650
Full inflation forecasts: 
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
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.
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