(Bloomberg) -- Latin America’s big inflation targeting central banks had all begun easing campaigns before Mexico’s central bank finally joined them in March with a quarter-point cut from a record 11.25%. After a pause in May, a large majority of analysts surveyed by Citibanamex forecast that the next move would be a quarter-point cut on June 27 to 10.75%. Yet, less than a month later most analysts see the next reduction at the September meeting as consumer prices and inflation expectations drift higher above the 3% target.

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