14 Aug 2015
Banxico minutes came in unexpectedly hawkish – BBH
FXStreet (Edinburgh) - Analysts at BBH gave their views on the recent publication of the minutes by the Mexican central bank, Banxico.
Key Quotes
“Minutes showed that the decision to keep rates unchanged at 3.0% was not unanimous, with one member voting for a 25 bp hike”.
“The rational was to preempt the Fed’s move and the potential disruption it may cause”.
“This is the first split since June 2014, yet we don’t put too much weight on it”.
“In fact, the bank trimmed its 2015 growth forecast on the back of lower oil production”.
“Cartsens, the head of the central bank mentioned this before. If anything, we think Banxico would take other measures to mitigate any negative ripple from Fed tightening, in the FX markets for example”.
Key Quotes
“Minutes showed that the decision to keep rates unchanged at 3.0% was not unanimous, with one member voting for a 25 bp hike”.
“The rational was to preempt the Fed’s move and the potential disruption it may cause”.
“This is the first split since June 2014, yet we don’t put too much weight on it”.
“In fact, the bank trimmed its 2015 growth forecast on the back of lower oil production”.
“Cartsens, the head of the central bank mentioned this before. If anything, we think Banxico would take other measures to mitigate any negative ripple from Fed tightening, in the FX markets for example”.