The rise in Mexico’s headline inflation rate, to 3.8% y/y in February was entirely driven by non-core inflation and therefore won’t be a major concern for the central bank. Indeed, we think that the weakness in the economy means that Banxico is likely to deliver another 50bp cut, to 9.00% at its meeting later this month.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.