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February 13, 2026

LATAM Week Ahead: MPC Minutes in Mexico

Weekly UpdateFXMacro Economic IndicatorsRates Govt BondsFinancials

The report highlights a dovish shift in Mexico's monetary policy guidance, suggesting a rate cut could occur in March. It also provides a calendar of key economic data releases for Latin American economies including Brazil, Argentina, and Colombia.

Key Takeaways

  • 1.The Mexican central bank's (Banxico) forward guidance has turned dovish, indicating a potential rate cut as early as March 2026.
  • 2.Upcoming MPC minutes will be scrutinized for the rationale behind the dovish shift and the impact of stickiness in core inflation.
  • 3.Inflation risks remain balanced toward the upside, although FX depreciation has been downgraded as a primary concern.

Table of Contents

  • MPC Minutes Expected to Open Door to Resume Easing Cycle Already in March
  • DATA NEXT WEEK:
  • Disclosure Appendix
  • Reg AC
  • Disclosures
  • Global product; distributing entities
  • General disclosures

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Authors

Alberto RamosSergio ArmellaSantiago TellezJorge Moscoso

Securities

Mexico Policy RateMXN

Themes

Central Bank Easing CyclesInflation Persistence vs. Policy Neutrality

Regions

Latin AmericaMexicoBrazilArgentina