He Bank of Mexico (Banxico) lowered its growth expectation for the Gross Domestic Product (GDP) for this year and next. Now, its central scenario is growth of 1.6% for 2023 and 1.8% for 2024.
These forecasts are below those estimated by the Mexican central bank in November last year, when it expected an increase of 1.8% in GDP this year and 2.1% for 2024.
Inside the Quarterly Reportraised its forecasts for the estimated trajectory of the inflation annual general, so they consider that in the first quarter of the year, the inflation variation will be 7.7%, and that it will slow down until closing 2023 with a fluctuation of 4.9 percent.
Now they anticipate that inflation will be close to the punctual inflation target, at 3.1% until the last quarter of 2024. When presenting the previous quarterly report, in November, Banxico assumed that inflation would reach 3.1% in the third quarter of the year next.
At this time, the virtual conference is taking place where the Governing Board of Banco de México, headed by the Governor Victoria Rodriguez Cejapresents the quarterly report.
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