Macro Analysis /

Mexico: Banxico QR – Few changes on estimates and still with a hawkish stance

  • The document does not show a meaningful change in the central bank’s tone, maintaining a hawkish bias

  • We highlight the downward revision in 2023’s GDP, from 2.4% to 1.6%. Meanwhile 2022’s GDP forecast did not change

  • In this context, we maintain our call of a 75bps hike on September 29th, with the reference rate at 10.00% by year-end

Alejandro Padilla Santana
Alejandro Padilla Santana

Executive Director of Economic Research and Financial Markets Strategy

Leslie Thalia Orozco Velez
Manuel Jimenez Zaldivar
Francisco Jose Flores Serrano
Juan Carlos Alderete Macal
1 September 2022
Published byBanorte


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