Arnoldo López
Arnoldo López

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As expected, the central bank raised the benchmark rate to 3.25%. In line with its communication Banxico said that although domestic conditions do not justify the upward movement, the US monetary normalization was the main factor for the move given the risks of a disorderly depreciation of the exchange rate and its possible effects on inflation and its expectations
Banxico raised the fondeo rate to 3.25% in a move motivated by the risks posed by the US monetary normalization on inflation and expectations. The tone of the statement indicates that relative monetary policy will be the main factor behind the decisions of the central bank in the short term
Influenced by the risks generated by the rise in the Federal Funds Rate we expect Banxico to increase the benchmark rate by 25 basis points for the first time since 2008