Mexico, close to reaching highest inflation point

The governor of the Bank of Mexico (Banxico), Agustín Carstens , said that inflation is close to reaching its highest point , so he will remain vigilant to take action, but will not respond in a " mechanistic " way, rather based on careful analysis.

"I think we are not far from seeing the highest level of inflation and entering a clear downward inflation trend ," he said.

They will observe all the determinants of inflation to act in the appropriate direction but based on up-to-date information , for it is very likely that it has already reached its maximum.

He commented that monetary policy has a delayed effect on inflation, and as mentioned in the latest monetary policy statement, the rate level we have today is likely to be congruent with the convergence of 3% .

"What we anticipate is that this convergence will continue and accelerate at the beginning of next year," he said.

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