LatinNews Daily - 16 December 2022

*Mexico’s central bank (Banxico) has raised its benchmark interest rate by 50 basis points to 10.50% - its 13^th consecutive rate hike. Headline inflation has slowed in recent weeks, with annual inflation standing at 7.8% in November - down from 8.14% in the first two weeks of November and 8.41% at the end of October. However, Banxico noted that core inflation maintained an upwards trend. Banxico lowered its inflation forecast for 2022, from 8.3 % in its previous (November) forecast to 8.1%, but adjusted up its core inflation forecast, which it predicts will stand at 8.5% at the end of this year, up from 8.3%. Banxico stated that global inflation remained high and upside risks persisted but noted that commodity price pressures and supply chain disruptions have shown signs of easing.

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