Mexico: Banxico QR - Without new salient information for monetary policy

  • Banxico published today its 1Q22 Quarterly Report, followed by a press conference from Governor Victoria Rodriguez

  • GDP for ‘22 and ‘23 was lower and CPI unchanged, but with telling statements in the Q&A about possible actions ahead

  • We keep expecting a 75bps hike on June 23rd and a faster tightening cycle that would take the rate to 9.50% by year-end

June 1st, 2022
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