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Below are some key takeaways, via Reuters, from the Mexico Central Bank’s recently published meeting minutes.

  • Most members thought balance of risks to inflation had deteriorated.
  • Most members thought balance of risks to growth maintained downside bias.
  • All members said that some risks to inflation have already materialized, which could affect inflation’s convergence to its 3 pct target.
  • All members cautioned that monetary policy faces a more adverse scenario and with greater uncertainty.
  • All members agreed that, under a more adverse scenario, a monetary policy response is essential to prevent inflation expectations from de-anchoring.
  • Most members highlighted the need to maintain a prudent monetary policy.