Citibanamex hopes that the Bank of Mexico (Banxico) increased another 50 points based on the reference rate in its monetary policy decision of the next week, with the exception of 6.00%.
Adrián de la Garza, economist in jefe and director of economic studies of Citibanamexexplained that there are two reasons why the majority of the members of the Junta de Gobierno del Banxico will vote in this session.
The first, dijo, tiene que ver con quissionings de credibilidad en torno a la Junta de Gobierno y particularlymente a la nueva gobernadora, Victoria Rodríguezbeing the first vote to emit monetary policy since joining Banxico on January 1st.
“There is a great deal of inconvenience in the matter of what comes as a governor, what his economic perspectives are, and what is the most important thing, what is his compromise on this priority of the Bank of Mexico’s mandate to preserve the power acquisition of the world“And with this high inflation rate, I think it is important that this signal of contingency, of a palpable compromise with this priority mandate of the Bank of Mexico and that we have progress, we will see”, explained.
In videoconference, the other argument has to do with the recent assessment of the expectations of inflation which has been seen in the last months.
“Between the reunion and the December decision at the end, we saw that this deterrent in the mid-term inflation inflation expectations has continued. In this scenario, we are contemplating a vote of 50 basis points for a majority of one to one ”, detailed.
In any case, considering that there will be a very ready and closed decision, which will take place posteriorly on the Junta de Gobierno, to accompany the Federal Reserve of United States, with alzas the rest of the year.
This, in turn, will highlight the case of interest of Banxico at the end of the year, at a level of 7.25 per cent.
Reference-www.eleconomista.com.mx