A Taxing Debate

September 2007 | Ratings Update

The Calderón administration has offered a helping hand to Banxico in its fight against inflation by announcing a postponement to the introduction of a new 5.5% tax on gasoline until next year. This development lends further support to our view that the monetary authorities will keep rates on hold at 7.25% this year barring an unexpected deterioration in the inflationary outlook.

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