Banco de Mexico October 15, 2021 / 12:00 am UTC
Banxico's Minutes Shed Light on Upcoming Decisions
The minutes of Banco de Mexico’s (Banxico) September 30 monetary policy meeting confirm the current board’s hawkish stance. While the Board's views remain dissimilar, the majority seem increasingly committed to additional rate hikes, supporting our (now consensual) view of two more 25bps rate hikes in November and December. We also think the Board's comments weaken the case for rate hikes in 2022.