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- Peso to struggle if Banxico decouples from the Fed’s moves – Commerzbank
Peso to struggle if Banxico decouples from the Fed’s moves – Commerzbank
The Mexican central bank (Banxico) is likely to mirror the Fed’s pace again today. Economists at Commerzbank expect the Peso to shrug off the decision if a 75 basis points hike is delivered.
Banxico likely to remain in sync with the Fed
“Banxico is expected to hike its key rate by 75 basis points to 10%. Moreover, we expect Banxico to signal further rate hikes.”
“We assume that the rate decision and statement will be in line with expectations thus not having much of an effect on the Peso.”
“If doubts were to arise on the market whether Banxico will continue to move in sync with the Fed or if participants were to find suggestions of an imminent end of the rate hike cycle, this is likely to put a dampener on the rate hike expectations, which have already gone a long way, thus putting pressure on the Peso.”
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