Mexico: Banxico Minutes – Will keep hiking, with pace mostly up to the Fed

  • Banxico maintains a hawkish tone in the minutes, with higher concerns on inflation, especially due to external factors

  • Agreement over the impact of the war in Ukraine, but with a lack of consensus over the response to Fed actions

  • We maintain our +50bps estimate for May’s decision, followed by 25bps hikes in the remaining five meetings of the year

April 7th, 2022
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