Banxico minutes: Balance of risks to inflation is tilted upwards

Below are key takeaways from the recently published meeting minutes of the Central Bank of Mexico, as reported by Reuters.

• One board member recognizes that risk of adverse result in NAFTA renegotiation has diminished.
• Majority of board members agree that the balance of risks to inflation is tilted upwards.
• Main risks to inflation are that the peso comes under pressure due to the environment of higher external rates, dollar strength and uncertainty over NAFTA.
• Majority of board members agrees that inflation expectations over medium and long-term have remained stable.