February 7, 2019 / 2:34 PM / 3 months ago

UPDATE 2-Mexico cenbank interest rate hold eyed after mild inflation data

 (Adds context about central bank meeting, economist comments)
    MEXICO CITY, Feb 7 (Reuters) - Mexico's central bank will
likely hold its benchmark rate steady at 8.25 percent on
Thursday, after data published by the INEGI national statistics
agency showed that consumer prices rose at a milder pace than
anticipated in January.
    Inflation was 4.37 percent in the year through January,
while consumer prices              rose 0.09 percent in the
month of January, according to non-seasonally adjusted figures.
    Ten analysts and economists polled by Reuters had forecast
annual inflation of 4.49 percent in January and monthly
inflation of 0.20 percent.
    The larger-than-expected fall in inflation "adds to the
reasons to think that Banxico (Bank of Mexico) will row back on
previous hawkish rhetoric when it meets this evening," William
Jackson, chief emerging markets economist at Capital Economics,
said in a report to clients.
    "Banxico is almost certain to keep interest rates unchanged
later today and we think the accompanying communications are
likely to be relatively dovish," Jackson added.
    The bank is also seen keeping rates steady on the back of an
appreciating peso currency and the U.S. Federal Reserve's
statement that it would be patient before making future interest
rate hikes, according to a Feb. 5 Reuters survey of 11 analysts.
            
    The core index, which strips out some volatile food and
energy prices, rose 0.20 percent during the month             .
    The bank will publish its monetary policy decision at 13:00
local time (1900 GMT) on Thursday.

 (Reporting by Anthony Esposito; editing by Jonathan Oatis and
Susan Thomas)
  
Nuestros Estándares:Los principios Thomson Reuters
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