Mexico City. The Bank of Mexico (BdeM) will pause the cycle of cuts to the reference rate and it will not be until the middle of the year when it will lower the objective again, according to economic analysts consulted by Citibanamex.
The latest Citibanamex Expectations Survey, carried out in analysis areas of banks, brokerage firms, consulting firms, among others, shows that 12 of the 32 participants in this edition expect a rate cut in the next monetary policy meeting of the board of central bank governance in May.
However, 18 of those surveyed project a next cut until June and one predicts this movement until September.
In this sense, the projections for the reference rate at the end of the year range from 8.25 to 10.25 percent, with a median of 9.63 percent.
However, the cuts could translate into a slight rebound in inflation for the month of March, since fifteen days ago economists predicted that the indicator would be at 4.4 percent and now they estimate that it will be at 4.5 percent.
By the end of the year, they expect inflation to be at a level of 4.12 percent, slightly higher than the 4.1 percent expected a fortnight ago.
“For 2024, the consensus continues to project GDP growth at 2.4 percent, while the forecast for 2025 GDP growth remained at 1.8 percent,” Citibanamex added.
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– 2024-04-14 05:22:29
