Mexico is benefitting from policies that seem so utterly obvious, yet, when it comes to the developed world.. well... let's just say that the fiscal response to Covid and the monetary response to the ensuing inflation has been utterly blundered:
"CPI inflation in Mexico is still surprisingly below US and Canadian inflation on a YoY basis. Banxico's head start to the tightening cycle and the government's fiscal restraint are two factors contributing to this lower inflation profile."
"Growth is resilient despite deteriorating global growth and liquidity. The peso is one of the top performing currencies this year."