Fynsa
It will be vital to monitor the upcoming data to assess the need to accelerate the process of cutting the TPM.
The low growth capacity of our economy should be a major concern, regardless of the monthly data.
While the macro framework was maintained, the depreciation of the peso has bothered the Central Bank, which has not wanted to add "more gasoline" to the reduction of the interest rate differential.
The evolution of inflation facilitates communication in the face of an imminent cut in the central bank's TPM.
Of concern is what is happening with core inflation, which rose 1.6% in March.
The February CPI was negative but, when we calculate what happened to prices excluding those volatile ones that fell the most, we find that inflation is still here.
As usual, I wanted to summarize our main projections for 2023, at the risk of being overcharged in twelve months' time.
