Banxico to Ease Rates in 09: Survey

A Banamex survey of economists reveals a consensus that Mexico’s monetary policy rate will be kept unchanged this year, but fall by 125bp in 2009 to 7.00% from a current 8.25%. The survey also shows that inflation is expected to drop to 3.90% in 2009 from 5.81% this year. Banxico’s inflation objective is 3.00%.