Mexico central-bank minutes: Board to keep prudent monetary position

Author: Greg Michalowski | Category: Central Banks

Banxico meeting minutes released

  • monetary policy faces complex environment
  • CPI performance been better than expected
  • Board to keep prudent monetary position
  • Banxico to pay special attention to highly uncertain environment
  • no evidence of dropping core inflation
  • board mentions economic slack and cost pressures and vote
  • All members see Mexico economic slowing faster than expected
  • All members not 1Q economic contraction, 2Q weakness
  • One member says Banxico remarks may cause CPI expectations to rise
  • One member said no evidence of rebound in growth
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