Mexico: Less inflation concerns despite an upward revision in GDP

  • Banxico published its 1Q23 Quarterly Report, highlighting a less hawkish tone, similar to the previous statement

  • We note the upward revision to 2023 GDP to 2.3%, with questions in the Q&A centered on actions ahead

  • We reiterate our forecast that the rate will close the year at the current level of 11.25%, with cuts in 1Q24

May 31st, 2023
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