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Published on Wednesday, April 29, 2015 | Updated on Wednesday, April 29, 2015

Mexico | We expect no change of MPR. Economic slowdown in the spotlight

We expect that lower than expected economic activity figures lead to a less restrictive tone as inflation converges to the 3.0% objective. Based on recent Banxico's communication we maintain our call of a first rate hike in September. However the expectations are biased towards a delayed start of the restrictive cycle, given the slowdown in economic activity