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Published on Thursday, November 11, 2021 | Updated on Friday, November 19, 2021

Banxico will likely take the policy rate to 5.25% in December

The Central Bank will most likely hike again in December, but not at a faster pace; the probability that the hiking cycle continues in 1Q22 has increased .

Key points

  • Key points:
  • The tone of the statement is broadly unchanged, but it has some tweaks that could be interpreted as hawkish
  • Yet, the wording showed no signs that the majority of the Board could lean to increase the tightening pace
  • The sizable upward revision in Banxico's expected core inflation path suggests that the odds of additional hikes in early 2022 have increased

Associated documents for downloading

  • Report (PDF) BanxicoWatch_11Nov21_eng-1.pdf English November 19, 2021
  • Report (PDF) BanxicoWatch_11Nov21.pdf Spanish November 12, 2021

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