Updated: Feb 7
The main concern for 2025 is the impact of US policy change on Mexico. Specifically, the impact of forced repatriation of illegal Mexican immigrants to the US; and the impact on trade.
Inflation trend is proving broadly good, with the latest CPI inflation rate at 4.2% and core inflation at unde 4%, so within the 2-4% target. The central bank does not see inflation falling to 3% until the end of 2025. Policy interest rate has been held at above 10%, which looks high, although fast broad money growth poses a risk to higher inflation.