LatinNews Daily - 22 March 2023

In brief: Experts raise Mexico’s 2023 growth forecast

*Economic analysts consulted by Citibanamex, the Mexican banking unit of US financial giant Citigroup Inc, have forecast that GDP will grow by 1.4% in 2023. This is up from a forecast of 1.1% in Citibanamex’s previous (February) survey of experts. The analysts also forecast that annual inflation will decrease to 7.24% in the first two weeks of March, down from the 7.48% recorded in the previous two weeks, and to 7.1% by the end of March, down from 7.62% at the end of February. The forecast for year-end inflation stands at 5.2%. The analysts also expect that Mexico’s central bank (Banxico) will raise interest rates by 25 basis points in March, which would bring the rate to 11.25%. Banxico’s next monetary policy meeting is set to take place on 30 March.

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