Overview
- Mexico: Citi’s January survey lifts the 2026 GDP median to 1.3% and puts headline inflation at about 4.0%.
- Policy outlook in Mexico: respondents see a 25 bp Banxico cut most likely by May, with the policy rate at 6.50% at end‑2026 and 2027.
- FX in Mexico: the consensus projects roughly 19.00 pesos per US dollar at end‑2026, with estimates spanning about 17.10 to 20.30.
- Argentina: the BCRA’s REM pegs December inflation near 2.3%, projects 2026 inflation around 20.1%, and a monthly slowdown toward about 1.5% by June.
- Argentina FX and growth: REM medians place the official rate near $1,484.3 per US$ in January and $1,753 by December 2026, with real GDP growth around 3.5%.