Bank of Mexico Adjusts Economic Growth and Inflation Forecasts Upward

The Bank of Mexico revised its economic growth forecast for the year to 0.6%, up from an earlier estimate of 0.1%. The central bank also adjusted its inflation expectations, predicting annual headline and core inflation to reach 3.7% in the fourth quarter.

The Bank of Mexico has revised its economic projections, anticipating a growth of 0.6% for the current year. This marks a significant increase from the previous prediction of 0.1%, according to the central bank's latest quarterly report.

In addition to growth forecasts, the Bank of Mexico now expects annual headline inflation in the fourth quarter to climb to 3.7%, compared to its former estimate of 3.3%. Similarly, the forecast for annual core inflation has been elevated to 3.7%, up from the earlier prediction of 3.4%.

These updated forecasts reflect the central bank's response to evolving economic conditions and underline its ongoing analysis of economic trends in Mexico.

(With inputs from agencies.)