Banco de México (Banxico) will release its quarterly inflation report on 19 May. Inflation has stayed well behaved - headline CPI is close to 3% while core rates have slipped to further below 3%, led mostly by non tradab…
Banco de México (Banxico) will release its quarterly inflation report on 19 May. Inflation has stayed well behaved - headline CPI is close to 3% while core rates have slipped to further below 3%, led mostly by non tradable/services pricing.
Mexican peso (MXN) weakness has had a relatively minor impact, with currency pass-through concerns now largely dismissed.
Recent Banxico communications show a neutral stance - inflation expectations are well anchored and growth broadly underwhelming (Q1 GDP data due on 21 May is likely to show sub-3% y/y growth).
The major debate among Banxico board members is whether to pre-empt the Fed's expected rate hikes. The cost of waiting for the Fed seems sufficiently low to make it the more practical course.
"We think Banxico can afford to wait before raising the policy rate", said Standard Chartered in a report on Monday.
Gold prices edged lower on Monday as stronger-than-expected U.S. nonfarm payrolls data dampened hopes for aggressive Federal Reserve rate cuts, bolstering the dollar. Spot gold slipped 0.1% to $2,686.32 an ounce, while F…
On-chain data shows BTC whales moved 10000 BTC from Crypto exchanges. This indicate accumulation of BTC by whales. Japanese public company Metaplanet buys another 1 billion yen worth of Bitcoin. According to Santiment, t…
Personal income increased by 0.2% month over month In August, which was less than the 0.4% market forecast and less than the 0.3% growth in July. For the third consecutive month, real personal disposable income increased…
