Macro Analysis /

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

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


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