Macro Analysis /

Mexico: Banxico – We expect a 10% reference rate by year-end

  • Banxico unanimously voted to hike the reference rate by 75bps to 7.75%, accelerating the pace of its tightening cycle

  • Inflation forecasts were adjusted strongly to the upside, while a message of 75bps being a ceiling was resounding

  • We now forecast +75bps in August, followed by three 50bps hikes, taking the rate to 10% by YE22

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
23 June 2022
Published byBanorte


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