Mexico: Banxico QR – Higher growth would limit the possibility for cuts soon

  • The document reaffirms the hawkish tone from the last releases, backing the view that cuts are still far away

  • We highlight upward revisions for activity, with 2023’s GDP at 3.0% from 2.3%, and a positive output gap

  • We reiterate our view that the reference rate will remain unchanged for the remainder of the year at 11.25%

August 30th, 2023
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