墨西哥比索:通胀减缓使墨西哥央行维持观望 – 富国银行
富国银行经济学预计墨西哥6月CPI将确认通胀逐步下降,整体和核心通胀均有所缓解,但服务价格仍然顽固

富国银行经济学预计墨西哥6月CPI将确认通胀逐步回落,整体和核心通胀均有所缓解,但服务价格仍然顽固。预计墨西哥央行将维持隔夜利率在6.50%,直至年底并延续至2027年,尽管如果经济增长令人失望且未来几个季度通胀回落进一步扩大,降息的风险将增加。

CPI走势指向延长暂停

“墨西哥6月CPI下周公布应能更清晰地显示通胀回落是否足够广泛,从而重新开启降息的大门。根据月中数据,我们预计整体和核心通胀将分别从5月的3.94%和4.19%放缓至3.75%和4.10%。”

“在6月会议上,墨西哥央行理事会一致决定将隔夜利率维持在6.50%,并暗示当前的政策设定在较长时期内仍然适宜。政策制定者还略微下调了2026年第二季度的整体通胀预测,而核心通胀预测则略有上调。”

“我们的基本预期仍是墨西哥央行将维持利率不变,直至年底并延续至2027年。尽管如此,风险偏向于降息而非加息。墨西哥央行预计第二季度经济将在第一季度收缩后反弹,并保持稳定增长。如果经济活动持续疲软且通胀回落进一步扩大,年底前可能会出现降息。”

(本文由人工智能工具协助生成,编辑审核。)

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