Macro Analysis /
Global

Mexico:Banxico Minutes–Hawkish tone, debating the best hiking pace going forward

  • The minutes maintain a hawkish bias, noticing strong concerns about inflation and the deterioration of its expectations

  • The debate centered on the magnitude of future hikes, the right level of the ex-ante real rate, and the Fed

  • We keep expecting +75bps on August 11th, followed by 3 more 50bps hikes. As such, we see the rate by YE22 at 10.00%

Alejandro Padilla Santana
Alejandro Padilla Santana

Executive Director of Economic Research and Financial Markets Strategy

Contributors
Leslie Thalia Orozco Velez
Manuel Jimenez Zaldivar
Francisco Jose Flores Serrano
Juan Carlos Alderete Macal
Banorte
7 July 2022
Published byBanorte

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