The members of the Governing Board maintain inflation forecasts with upward risks, especially due to the possible persistence of underlying inflation, greater exchange rate depreciation and cost pressures.
“The Governing Board evaluated the behavior of inflation and its determinants, as well as inflation expectations. It considered the nature of the shocks that have affected the non-core component and the forecast that their effects on general inflation will continue to dissipate. in the following quarters,” highlighted the central bank.
The board anticipates that the inflationary environment will allow it to make further reductions in the interest rate due to the effects of economic weakness.
Forecasts for short-term inflation improved for the short term and the 3% target is expected to be reached in the fourth quarter of 2025.
inflation managed to lose 4.66% in the first half of September in the face of a sharp slowdown in the prices of agricultural foods such as oranges, tomatoes, zucchini and avocado.
Analysts expect that a lower dynamism in the Mexican economy will help slow down inflation, as well as lower government spending in the following year.
“GDP growth in the first half of the year disappointed and increased the risk of a technical recession occurring in the coming quarters,” CI Banco highlighted in a report.
Saver or debtor, this is how Banxico’s decision affects you
In recent years, some financial apps offer accounts with returns to encourage savings and investment.
The decision of the Bank of Mexico will cause these institutions to make adjustments starting in October and the yields will be lower than what they offered.
The Cetes, which are one of the safest investment instruments in the country, have also reduced the returns they offer to investors because they follow the trajectory of Banxico’s reference rate.
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For those people who request a loan, a reduction in the reference rate is convenient because the banks adjust downwards the rate at which they lend, even the bankers themselves have said that one of the loans that will benefit from this reduction They are the mortgagers.
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