Banxico minutes – Entering a new phase in the restrictive period

  • The document reaffirmed the less hawkish tone that we perceived in the statement and yesterday’s QR

  • Some of the main topics included the end of the tightening cycle, forward guidance, and the timing for cuts

  • We maintain our view that the rate will close the year at the current level of 11.25%, with cuts until 1Q24

June 1st, 2023
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