Banxico hikes rates by 50bps in a unanimous decision, above expectations for a 25bps move; says "for its next policy meeting, the upward adjustment to the reference rate could be of lower magnitude"

• The balance of risks for the trajectory of inflation within the forecast horizon remains biased to the upside
• It deemed "given the dynamics of core inflation, on this occasion it is necessary to continue with the magnitude of the reference rate adjustment of the previous policy meeting, 2 in order to be in a better position to tackle a still complex inflation environment."

CPI FORECASTS LIFTED ACROSS FORECAST HORIZON