Goldman Sachs
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
