Banxico's policy meetings likely after FOMC meetings

Banxico's policy meetings have been aligned to come 1-2 days after the FOMC meetings. 

"Banxico will not be far away from raising rates once the Fed starts hiking. We have four rate hikes in our forecast for 2016 - the same as we have for the Fed", states Nordea Bank.

The approaching Fed hike will continue to pose a risk of more weakening of the MXN in the near term. A gradual strengthening longer out is expected, supported by the economy's strong fundamentals, the ambitious reform programme and a firm growth outlook, added Nordea Bank.