The Mexican central bank cut its growth forecasts today:
Sees +0.6% this year from +1.2%Sees 2026 growth of about 1.8%Sees core inflation this year at 3.3% compared to 3.0% previouslyBalance of risks for inflation remains to the upsideHeadline inflation seen converging to 3% target in Q3 2026, sooner than Q4 previously forecastSub-1% GDP growth in a developing market isn't going to get anyone excited. If there is some certainty around trade terms with the US, there could be some upside but I don't think that will be a 2025 story.
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