· Inflation in Mexico remains slightly above 4% during October.
· Biden is declared the election`s winner, prepares a transition team and announces a plan to control the virus in the country.
· Central Bank of France expects to see less of a negative economic impact caused by the virus`s second wave.
Figures published by the INEGI this morning showed growth in the Consumer Price Index of 0.61% monthly during October. With this, the index set at 4.09% at an annual rate, level slightly above estimates (4.04%e.). The largest increase came from energy prices (2.97% monthly), particularly electricity (18.66%) after the end of the subsidy programs that used to help prices. Fruits and vegetables also recorded an important increase in prices during the month (3.51% monthly). However, underlying inflation remained moderate (0.24% monthly) and stable at 2.98% annual. Goods recorded the lowest level of inflation this year (0.29%) and services had moderate increases (0.18%). Data suggests that inflation could resume its downwards trend in the next few months after less inflationary pressures on goods. Banxico`s monetary policy decision is expected this Thursday, in which it`s possible that we`ll see a new 25 bps cut in the interest rate target (4%e.), once the risk scenarios revolving around the elections in the US did not materialize.