Mexico: Banxico – 50bps hike, while not ruling out an even faster pace ahead

  • Banxico hiked the reference rate by 50bps to 7.00%. The vote was not unanimous, with Irene Espinosa favoring +75bps

  • The tone was more hawkish, with inflation forecasts up once again amid the possibility of more forceful measures ahead

  • We see a faster increase ahead, with the rate reaching 9.00% by YE22 and the cycle’s terminal rate at 9.50%

May 12th, 2022
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