In the latest analysis from Commerzbank, Michael Pfister discusses the Mexican central bank's likely decision to maintain interest rates. With economists agreeing on the lack of immediate changes, the report emphasizes that Banxico is expected to assess the effects of previous rate cuts before making further adjustments, indicating a cautious approach moving forward.

Banxico's wait-and-see approach

"Banxico is likely to wait and see the effects of past interest rate cuts on inflation and growth before cutting further."

"Today's decision is likely to have been fully priced into the market by now, and things will only get particularly exciting at upcoming meetings."

"However, given Banxico's dovish stance, we remain somewhat sceptical, although there are unlikely to be any indications of further interest rate cuts already today."

(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)