The expert considered in a meeting with the media that Banxico will not be able to achieve the inflation target because prices are increasing due to problems of supply and not demand.
At a press conference, the specialist stressed that the increase in interest rates will cause a global slowdown and that is when the central banks must “turn the wheel.”
BlackRock warns that the peak of inflation will be between next August and September, so it expects Banxico’s reference rate to reach levels close to 10%, that is, in restrictive territory.
“We have seen that sensitivity of the members of the Bank of Mexico that they do have to take the rate to restrictive territory but they are going to take care that they do not enter super restrictive terrain and it is possible that they will separate from the Fed in the future,” he said.
The discussion within the Bank of Mexico to follow the Fed in raising the rate will take place in the last quarter of the year, according to Ortega, once it is determined whether inflation shows a slowdown.
