Publications

Michoacan and Guanajuato remain tied as the main recipient states, with USD 1,249 million each in Q1 2026. The main U.S. states of residence of Mexican migrants increased their remittance outflows: California (+6.2%) and Texas (+2.0%).

Three voting regional presidents, while supporting the decision to hold rates steady today, did not back the statement’s easing bias, signaling a growing view within the Committee that the scope to resume rate cuts this year is becoming increasingly limited.

If a year ago the International Monetary Fund (IMF) meetings in Washington revolved around tariffs, this year the conflict in Iran has overshadowed that debate.

Short-term yields have declined as markets reassess the Fed outlook and move away from pricing rate hikes this year, with the 2-year leading the adjustment and the long end moving more modestly.

Europe is seeking to strengthen the international role of the euro in the face of the U.S. dollar’s dominance in order to achieve greater geopolitical autonomy. The success of this challenge requires economic weight, institutional strength, and technological and financial innovation.

For a second straight meeting, the Fed held rates steady last week at a 3.50-3.75% target range, flagging renewed inflation risks tied to the Middle East conflict—now priced in by markets through higher medium- and long-term yields.

A sooner resumption of easing would likely require either a more decisive weakening in the labor market or a faster-than-expected easing of tariff-driven goods inflation, potentially reinforced by a swift resolution of the current conflict in Iran.