Macro Analysis /
Global

Mexico: Banxico – 50bps hike with a resounding message, in line with our call

  • Banxico decided to hike the reference rate by 50bps to 5.50%, in line with our call, but contrary to consensus

  • In our view, the statement shows an even more hawkish bias. Deputy Governor Esquivel was the only dissenter (25bps hike)

  • We reiterate our view of accumulated hikes of +125bps in 2022, taking the reference rate to 6.75% by year-end

Alejandro Padilla Santana
Alejandro Padilla Santana

Executive Director of Economic Research and Financial Markets Strategy

Contributors
Leslie Thalia Orozco Velez
Manuel Jimenez Zaldivar
Francisco Jose Flores Serrano
Juan Carlos Alderete Macal
Banorte
17 December 2021
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