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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 raise rates by 50bps to 6.50%, alongside expectations and inline with the AMLO commentary from earlier today, where he pre-disclosed the rate decision.
Bank statement here: https://www.banxico.org.mx/canales/%7B31FD1761-156...
Highlights:
- Decision was unanimous, against the outside risk that some members could have voted for a faster pace of tightening (i.e. 75bps).
- Bank also upgrade their inflation view, and now see CPI hitting 5.5% at year-end (from 4.3% prior), with Core CPI at 5.2% (prior forecast was 4.3%)
- Board see Mexican economy resuming recovery early this year,
- Concludes that balance of risks for the trajectory of inflation has deteriorated and remains biased to the upside.
Updated 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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