Credentials Reinforced… Now Time To Hold

August 2008 | Market Strategy

We believe that Mexico's brief, but effective, tightening cycle has come to an end. Headline prices are still accelerating (at a four-year high of 5.4% y-o-y in July), but the delivery of three, quick-fire 25bps rate hikes since May has reinforced Banxico's inflation-fighting credentials immeasurably.

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