Citi Survey sees Banxico frozen as Peso holds below 18.00
Citi Mexico released its September “Expectations Survey,” in which most private economists expect the Bank of Mexico (Banxico) to hold rates unchanged, while the exchange rate is forecast to end below the 18.00 threshold by the end of 2026.
Citi Mexico's September "Expectations Survey" reveals that most private economists anticipate the Bank of Mexico (Banxico) to keep interest rates steady. The exchange rate is projected to remain under 18.00 by the end of 2026. Economists predict the reference rate will stay at 6.50% until the end of 2027, fluctuating between 6.25% and 6.75%.
The USD/MXN pair is projected to settle at 17.50 by year-end, with a consensus rate of 18.07 by 2027, down from 18.24. Inflation is expected to end 2026 at 4%, and core inflation at the same rate. Mexico's GDP is forecast to grow by 1.3% in 2026, up from 1.2% year-over-year, and by 1.8% in 2027.
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