07:18 AM EST, 12/19/2024 (MT Newswires) -- Societe Generale said it penciled in a 25bps rate cut to 10.0% at Mexico's central bank (Banxico) on Thursday and a statement that signals further easing in 2025, going against the tide of hawkish surprises in Brazil and Chile.

Higher United States Treasury yields and the hawkish Federal Reserve message are obvious risks that could motivate Banxico to adopt a more neutral bias, wrote the bank in a note to clients.

SocGen's house call is for the policy rate to drop to 8.0% in 2025.