The bank’s survey showed that 31 of the 34 participants expect Banco de México to raise the reference rate by 25 base points, after it did so by 50 base points in February.
For subjacent inflation, considered the best parameter to measure the trajectory of prices, because it eliminates highly volatile products, estimates indicate that it would also have fallen to 8.34%, from 8.45% in January.
At the end of the year, inflation is estimated to be 5.3%.
In its most recent monetary policy announcement, Banxico raised the reference rate by 50 points to 11%, above market expectations. The bank reported that there was a complex scenario for inflation and that in the March decision it could make a smaller increase.
