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BBVA Bancomer Sees Central Bank Cutting Rates in December

BBVA Bancomer expects Mexico’s central bank to start cutting rates by 25 basis points in December, depending on the exchange rate’s performance, said economist Julian Cubero.

BBVA Bancomer had previously forecast that Banxico, as the central bank is known, would increase rates in May 2013. Cubero spoke in a telephone interview in Mexico City.

Mexico’s central bank kept its benchmark interest rate unchanged today at 4.50 percent for a 22nd straight meeting.

To contact the reporter on this story: Nacha Cattan in Mexico City at ncattan@bloomberg.net

To contact the editor responsible for this story: Jose Enrique Arrioja at jarrioja@bloomberg.net

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