Macro Analysis /

Mexico: A hawkish calibration of our calls for the Fed and Banxico

  • We modify our call for the Fed funds rate, now seeing 4 hikes of 25bps each in both 2022 and 2023

  • As a result, we also adjust our view for Banxico, forecasting a 50bps hike in February and four more 25bps rises

  • In addition, for 2023 we anticipate another 100bps of accumulated hikes by Banxico for a terminal rate of 8.00%

Alejandro Padilla Santana
Alejandro Padilla Santana

Executive Director of Economic Research and Financial Markets Strategy

Katia Goya Ostos
Francisco Jose Flores Serrano
Juan Carlos Alderete Macal
12 January 2022
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