A day after the most awkward three-way handshake in history between Obama, Trudeau, and Nieto, the latter’s central bank just pushed rates higher by a bigger than expected 50bps to 4.25% (exp +25bps). The Peso is surging back (extending its bounce off January lows) retracing all the post-Brexit losses… on what seems like fears of a surge in food inflation.
- *WORSENED GLOBAL CONDITIONS COULD IMPACT CPI: BANXICO
- *BANXICO LOOKS TO KEEP MXN FROM HITTING INFLATION EXPECTATIONS
- *BANXICO SAW STEEP RISE IN FOOD MERCHANDISE PRICES
- *BANXICO: EXTERNAL CONDITIONS DETERIORATED IN SIGNIFICANT WAY
- *BANXICO TO ALSO WATCH CURRENT ACCOUNT DEFICIT
- *BANXICO TO ALSO WATCH MONETARY POSITION RELATIVE TO U.S.
- *BANXICO SAYS MORE PUBLIC FINANCE TIGHTENING WOULD BE DESIRABLE
Sparking a rapid bid for pesos…
But well off the mid-April recent highs..
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