In the minutes of its June meeting, the Central Bank of Mexico noted that most members thought the downward bias of balance of risks to growth had increased.
The USD/MXN pair hasn’t reacted to the statement and it was last seen trading at 19.1460, adding 0.09% on the day. Below are some key takeaways as reported by Reuters.
“Most members thought there is a high degree of uncertainty in the risks that could influence inflation.”
“Board member Esquivel voted in last policy meeting to cut benchmark rate by 25 basis points to 8 percent.”
“All board members thought that economic slowdown was faster than anticipated with signs of weakness in the second quarter.”
“All members agree that lower headline inflation was the result of an important reduction in non-core components.”
“Majority of board members expect inflation to show a downward trend in coming months.”
“Majority of board members think 2019 growth could be lower than expected.”
“Eventual failure to approve USMCA trade deal or further tariff threats from the united states are among growing risks to growth.”
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