LatinNews Daily - 21 October 2022

*Alfredo Coutiño, the director for Latin America at Moody’s Analytics, a subsidiary of international credit ratings agency Moody’s, which provides financial intelligence, has warned of an “imminent” depreciation of the Mexican peso against the US dollar in excerpts of a report circulated in the local media. According to the report’s excerpts, the Mexican peso had remained relatively stable after the initial shock generated by the coronavirus (Covid-19) pandemic in the first half of 2020. However, Coutiño anticipates a “depreciatory correction” due to “a tightening of monetary policy by the US Federal Reserve (Fed)”. He said that this depreciation could occur “towards the end of 2022 and throughout 2023 or even until 2024 depending on the speed of the cycle of monetary tightening by the Fed and monetary policy response in Mexico.”

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