墨西哥:潜在增长以下,宽松政策推迟 – 法国兴业银行
法国兴业银行(Societe Generale)的Dev Ashish预测,墨西哥2026年的增长将低于潜力,受制造业疲软、投资不足和USMCA相关不确定性的制约。预计油价上涨将传导至通胀,提升通胀风险和预期。

法国兴业银行(Societe Generale)的Dev Ashish预测,墨西哥2026年的增长将低于潜力,受制造业疲软、投资不足和USMCA相关不确定性的制约。预计油价上涨将传导至通胀,推高通胀风险和预期。墨西哥央行(Banxico)目前被描述为鸽派,但可能将进一步宽松推迟到2027年,同时不断增加的社会支出限制了财政整合,尽管预算目标可实现。

低于潜力的增长与谨慎的墨西哥央行

“增长:2026年增长因制造业疲软、投资不足及USMCA相关不确定性而低于潜力。”

“通胀:预计油价传导将推高通胀风险和预期。”

“货币政策:墨西哥央行目前保持鸽派立场,但可能将进一步宽松推迟至2027年。”

“财政:预算目标可实现,但不断增加的社会支出限制了财政整合。”

“风险:油价、美国经济放缓及USMCA不确定性威胁通胀和增长路径。”

(本文由人工智能工具协助生成,编辑审核。)

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