This is one of the reasons why Banamex points out that the central bank does not establish credibility signals. While Moody’s Analytics points out that the premature withdrawal of the monetary brake in 2025 was what has caused the central bank to question its commitment to the 3% inflation target.
In the EPC 2025, the monetary policy announcement remained the most relevant instrument: 96% considered it essential, a percentage higher than the 92% expressed in 2022 and 2020.
La Minuta registered a slight decrease in its perception of essential, going from 69% in 2022 to 62% in 2025.
Within the Monetary Policy Announcement, the expected inflation section was considered “essential” by 75% of respondents while 24% said it was “important.”
Regarding the balance of risks for inflation, 81% said this part was “essential”, 14% said it was “important”, but 2% said it was not important.
When Anciola was asked what the consequences could be of market analysts not having good guidance from Banxico, the expert responded that the effectiveness of monetary policy is reduced.
“These results confirm that, for a specialized audience, communication is more effective when it focuses on the formation of expectations and coherence between diagnosis and monetary policy decision, as well as clarity about the objectives and mandates of the central bank,” highlights the EPC 2025.
