The president did not provide details about a possible agreement, but it is speculated that it could be similar to the phased agreement before the pandemic. According to Gabriela Siller, director of economic analysis at Banco Base, it is expected that the president will present a new agreement to boost the economy.
Today, February 20, the dollar is quoted at 20.86 units for sale and 19.73 pesos per dollar for buying at bank counters, according to Citibanamex. The dollar index (DXY) shows a loss of 0.55% at 106.58 units, and the Bloomberg dollar index (BBDXY) drops 0.56% to 1,284.75 points.
In the money market, the yield on the 10-year U.S. bond is 4.51%, while in Mexico, the 10-year bond remains at 10.31%. Among the most appreciated currencies today are the Russian ruble, Japanese yen, Polish zloty, Chilean peso, and South African rand, with increases ranging from 0.48% to 1.13%.
Four of the five members of the Board of Governors of Banco de México consider it feasible to continue with the cycle of interest rate cuts with an additional reduction of 50 basis points. However, they remain vigilant to the uncertainty generated by Donald Trump's tariffs. Despite the uncertainty, the Mexican currency and other emerging currencies are strengthening against the dollar.
Banxico has reduced its growth forecast for Mexico from 1.2% to 0.6%, following the contraction experienced by the economy in the last quarter of 2024. The members of the Board of Governors agree on the possibility of a 50 basis point cut in the next meeting, although they emphasize that this will not be a norm in the future.
