To 8% from its prior level of 7.75%
Today's decision was the consensus expected, but it wasn't a unanimous consensus
Bank of Mexico statement (highlights):
- one member voted for a 50bp hike
- balance of risks to growth continues tilted downwards
- balance of risks to expected trajectory for inflation has deteriorated,shows an upward bias in environment of marked uncertainty
- peso exchange rate was affected by the announced cancellation of the new Mexico city airport and concerns about policies of the new administration, legislative initiatives
environment presents important medium and long-term risks that could affect the macro economic conditions of the country, its capacity for growth and price formation
-
And, not just for the MXN traders, I do wonder how much of the concern Banco de Mexico express on the risks to growth are applicable to other countries, nt just EMs?
