Banxico raised the reference rate by 75bps to 10.00% with a less hawkish statement and one dissenting vote
Mixed revisions to inflation forecasts, with the headline lower and more modest adjustments to the upside for the core
We hold our view of +50bps in Dec, with the rate at 10.50% by YE22 and a terminal level of 11.00% by the end of 1Q23
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