The price of the dollar in Mexico operates downward in the early hours of Monday, while the inflation data for USA raised hopes that the Federal Reserve nears the end of its interest rate hike cycle.
The exchange rate is listed at 18,046 pesos per dollar, according to data from the Bloomberg agency.
The Mexican government expects the local Gross Domestic Product (GDP) to grow by 3% this year and in 2024, according to the pre-budget criteria released on Friday by the Ministry of Finance.
Meanwhile, the document estimates that the inflation rate will be at 5% at the end of this year and will fall back to 4% at the end of 2024, said this entity.
Likewise, the estimates released in September for 2023 already anticipated that activity in the second largest economy in Latin America would register an annual expansion of 3%, although the government slightly raised the expansion range to between 2.2% and 3% from the forecast. from 1.6% to 3% for this year.
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The yield on the two-year bonds of the us treasury fell for the first time in nine quarters, while US inflation data fueled hopes that the Federal Reserve is nearing the end of its interest rate hike cycle.
According to Reuters Agency, US consumer spending rose moderately in February and, while inflation cooled, remained high enough to allow the Fed to raise rates once more this year.
Another report showed that US consumer confidence fell in February for the first time in four months on concerns of an impending recession, although the impact of the recent banking crisis was less.
Expectations for a 25 basis point rate hike at the May meeting were cut to around 50%, and no hikes are considered equally likely.
Source: Gestion
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