- Inflation in Mexico exceeded estimates of 4.45%, increased by 4.48%, while core figures jumped above the consensus of 4.62% YoY and rose by 4.69%, revealed the National Statistics Agency (INEGI) on Friday. Besides that, Economic Activity plunged -0.6% MoM, below estimates of a 0.3% expansion, and slowed compared to December, below estimates of 2.6%, down to 2%.
- The outlook in Mexico suggests the economy is stagnating. A weak retail sales report, private spending falling sharply, and a contraction in economic activity justified Banxico’s rate cut. Nevertheless, they face stubbornly stickier inflation, keeping policymakers on their toes.
- Mexico’s retail sales fell by 0.6% MoM in January, missing estimates of 0.4% expansion but better than December’s data. Yearly figures plummeted from -0.2% to -0.8 %, smashing projections for a 1.2% expansion.
- Aggregate Demand rose by 0.3% QoQ in Q4, up from 0%. On an annual basis, it decelerated from 2.7% to 2.6%.
- Private Spending on a quarterly basis slowed from 1.2% to 0.9%. On a yearly basis, it improved from 4.3% to 5.1%.
- Traders are digesting the latest monetary policy decision by the Federal Reserve, which held rates unchanged and maintained their projections for three 25 bps rate cuts toward year end. Despite revising the federal funds rate (FFR) level upward to 3.9%, the Fed’s decision was perceived as dovish.
- After the Fed’s decision, money market traders see a 73.2% chance of the Federal Reserve cutting rates by a quarter of a percentage point.
면책 조항: 본 게시글에 표현된 견해는 전적으로 작성자의 견해이며 Followme의 공식 입장을 대변하지 않습니다. Followme는 제공된 정보의 정확성, 완전성 또는 신뢰성에 대해 책임을 지지 않으며, 서면으로 명시적으로 언급되지 않는 한 해당 내용을 기반으로 취해진 어떠한 조치에 대해서도 책임을 지지 않습니다.
이 글이 마음에 드시나요? 작성자에게 팁을 보내 감사의 마음을 전하세요.
더 오래된 의견은 없습니다. 소파를 가장 먼저 잡으십시오.