- Bank of Mexico (Banxico) forecasts average annual headline inflation in Q4 2024 at 4.0% from prior estimate of 3.5%
- Bank of Mexico forecasts average annual core inflation in Q4 2024 at 3.8% from prior estimate of 3.5%
- Bank of Mexico forecasts average annual headline inflation in Q4 2025 at 3.0% from prior estimate of 3.1%
- Bank of Mexico forecasts average annual core inflation in Q4 2025 at 3.0% from prior estimate of 3.1%
- Bank of Mexico forecasts annual GDP growth in 2024 at 2.4% from prior estimate of 2.8%
- Bank of Mexico forecasts annual GDP growth in 2025 at 1.5% from prior estimate of 1.5%
- Headline inflation seen converging to 3% target in Q4 2025
- Although Mexican economy is expected to resume higher growth rate in the coming quarters, it is necessary to strengthen the foundations to promote greater long-term growth in a sustainable manner
- Board will closely monitor the inflationary pressures, as well as all the factors that affect the expected trajectory of inflation and expectations
- Board will evaluate inflationary outlook to discuss adjustments in the reference rate
- Bank of Mexico raises forecast for 2024 inflation
- Although the inflationary outlook continues being complex and uncertain, it is expected that in the coming quarters the disinflationary process in Mexico will keep advancing
- Risks to growth of economic activity remain balanced
Looking at the USDMXN, the price today moved back above the 100-day MA at 16.8939. That is the first break above since May 10. Closing above today would be the first since May 3.
