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Below is a list of our Latin America Publications for the last 6 months. If you are looking for reports older than 6 months please email email@example.com, or contact your account rep
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The Mexican economy remained relatively resilient in Q2, but momentum eased sequentially.
Downside risks will persist in the near term, forcing Banxico to slow the pace of tightening.
Core inflation, however, remains particularly sticky, complicating policymakers’ decisions.
Benign global conditions, including easing supply constraints will help to push down LatAm inflation.
CPI inflation is dropping rapidly in Brazil, thanks to the government’s efforts to control key prices.
Core inflation remains sticky in Mexico; we expect a downtrend soon, but wage pressures are a threat.
June’s retail sales numbers suggest that Mexican households are feeling the pain from high inflation.
Still-solid remittances from the U.S. remain the life-line for many, but downside forces are emerging.
Tighter financial conditions is also hitting consum- ers hard, but the picture will improve in Q1 next year.
Banxico hiked rates to a record 8.50%, but the pace of tightening will slow over the next few meetings.
A struggling economy and peaking inflation has allowed the Bank to dial-back its hawkish language.
The near-term policy outlook, however, is still uncertain, dependent on global conditions and the Fed.
Mexico's trade deficit increased in June, due mostly to rising oil imports, thanks to higher prices.
Exports are also performing strongly, particularly manufactured goods, but risks have emerged.
Colombia's BanRep will likely hike by another massive 150pbs today, and more tightening is coming.
Inflation in Mexico is still heading north, due chiefly to increased food prices and the reopening...
...But upside forces in key components, particularly services and energy, are stabilising or even easing.
Banxico will hike at its current 75bp pace in August, but conditions will allow slower tightening in Q4.
Inflationary pressures remain elevated in Mexico, but the headline rate will probably peak soon.
Banxico minutes emphasize that policymakers are determined to bring down inflation in H2.
Inflation in Colombia is rising rapidly; the near-term outlook remains challenging, due to strong demand.
Mexico’s deficit in May remained very large by past standards, due mainly to high energy prices.
The value of imports likely will continue to rise in Q3, but weaker domestic demand will be a drag later on.
Labour market conditions deteriorated, at the margin, in May, but enough to make Banxico uneasy.
In one line: Accelerating rate hikes, as external conditions continue to deteriorate.
Banxico delivers a bold 75bp rate hike, and leaves the door wide open for more during the second half.
Inflation continued to rise in Q2, darkening the economic outlook over the next few months.
Banxico will hike more than the Board and AMLO would have allowed under normal conditions.
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