08:29 AM EST, 11/14/2024 (MT Newswires) -- Mexico's Banxico is the lone central bank to weigh in this week and it's expected to cut by 25bps at 2 p.m. ET on Thursday, said Scotiabank.

Consensus is almost unanimous with just two out of 27 expecting a surprise hold, noted the bank.

Inflation has been falling toward the 2%-4% target range.

The Mexican peso has depreciated by about 2.5% to the US dollar, about 1% versus the Canadian dollar, only slightly to the CNH/CNY since just before the United States election results became clear but has appreciated to the euro, yen and sterling, stated Scotiabank.

How Banxico balances currency and trade policy risks will be key, pointed out the bank.