Macro Analysis /
GlobalBanxico – Monetary stance reaches restrictive territory, but hikes will continue
Banxico increased the reference rate to 8.50% (+75bps), with a unanimous vote and in line with expectations
Inflation forecasts were adjusted again to the upside, but maintaining the convergence to the target by 1Q24
We reiterate our call that the rate will end 2022 at 10%, with a 75bps hike in September, and possible cuts in late 2023
Alejandro Padilla Santana
Executive Director of Economic Research and Financial Markets Strategy @ Banorte
Contributors
11 August 2022
Published byBanorte
