Mexico: Banxico Minutes – It is premature to talk about cuts

  • The Board showed a more hawkish tone in the minutes, addressing the need to maintain an extended pause

  • We highlight the board’s opinion on it being premature to talk about rate cuts and the transmission channels

  • Considering this and our view regarding the Fed, we maintain our view that the easing cycle will begin until Feb 2024

July 6th, 2023
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