Banxico Rodriguez: MXN gains from US tariff view, policy stance adequate

In an interview with El Financiero, Victoria Rodriguez Ceja, Banco de Mexico (Banxico) Governor, said that the Mexican Peso (MXN) strength was due to the market's perception of Mexico's "preferential treatment" in the US tariffs policy. When asked about monetary policy, she said that Banxico's current policy stance is adequate.

Victoria Rodríguez emphasized that the current monetary policy stance is adequate to address inflationary pressures and contribute to the convergence of inflation toward its 3.0 percent target by the third quarter of 2026.

"Our decisions are based on all the information available to us at each of our meetings. We believe that both our decisions and our communication are consistent with the inflation outlook and its outlook," she emphasized.

"We conduct our monetary policy based on the evolution of the inflation outlook as a whole, not on a single data point. In this context, we decided to maintain our forward guidance from our last meeting, and as we advance, we will consider additional cuts to the reference rate, taking into account all determinants of inflation," she stated.