Banxico dovish in minutes published after rate hold
Minutes “softly hints at rate cut”, analyst says
The Bank of Mexico (Banxico) remained cautious on the country’s inflation outlook but showed signs of dovishness, according to it’s latest minutes released on Thursday (July 11).
Banxico officials held the overnight interbank interest rate at 11% with a 4–1 vote on June 27, a slightly more dovish position compared with the unanimous hold in May.
Omar Mejía, who voted for a rate cut of 25 basis points, said that the peso’s depreciation from “idiosyncratic events” was counteracted by evidence of a
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