Banxico will stop following the Fed in the third quarter of 2023

Banxico will stop following the Fed in the third quarter of 2023

Estimates are that the fed have rates of 5% next year and Banxico reach a eleven% in the first months of 2023.

“We do not rule out that Banxico decouples from the Fed at some point in the third or fourth quarter of the following year. They are not going to decouple in the increases, when the Fed finishes raising, Banxico will do the same. We are going to remain static for a while and Banxico will lower rates sooner,” Gonzali said.

Franklin Templeton considered that the changes to the reference rate will not be surprising like the movements they made in 2020, when the pandemic It caused Banxico to call extraordinary meetings to lower the interest rate.

“We do not want the market to panic and they are going to signal a long time in advance, we do not see Banxico surprising us,” added the specialist.

For the future of Banxico, Franklin Templeton analysts believe that the deputy governor Gerardo Esquivel will not be ratified in the position for a new period and that in his place could be officials such as Gabriel Yorio either John Paul de Botton.

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