FXStreet (Edinburgh) – The Research Team at BBH expects the Mexican central bank to stand put at today’s meeting.
“Mexico central bank meets and is expected to keep rates steady at 3.0%”.
“Mid-July CPI came in lower than expected at 2.76% y/y vs. 2.87% consensus”.
“This was the lowest since at least 1989, and moves further below the 3% target”.
“Real sector data remains fairly soft. Under these conditions, we do not expect Banco de Mexico to make good on its intent to hike rates this year”.
“USD/MXN is making new all-time highs this week, yet there simply has been no inflation pass-through to date”.
The Research Team at BBH expects the Mexican central bank to stand put at today’s meeting…
(Market News Provided by FXstreet)