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Investing.com - Bank of America expects Mexico’s central bank, Banxico, to cut its policy rate by 25 basis points at its upcoming November 6 meeting, bringing the rate to 7.25%.
The financial institution anticipates a split decision among Banxico’s board members, with a likely vote of 4-1 in favor of the rate reduction, according to a research note published by BofA analysts.
BofA predicts Banxico will maintain its current forward guidance, preserving flexibility for another potential rate cut at its December meeting as the central bank continues its easing cycle.
The bank’s analysts project Banxico will ultimately reduce its policy rate to 6.00%, implementing cuts at each upcoming meeting, though they acknowledge the possibility of occasional pauses in this downward trajectory.
Bank of America’s forecast comes as Mexico’s central bank navigates monetary policy amid changing economic conditions, with the institution having already begun its rate-cutting cycle earlier this year.
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