Mexican Inflation Shows Further Cooling in February, Raising Prospects of Rate Cut

• Mexican headline inflation seen slowing to 4.70% in early February, continuing downward trend • Rate still above central bank's 3% target • Core inflation also falling, to 4.67%, lowest since July 2021 • Central bank held rates at 11.25% last meeting, hinting at possible future cut • Citibanamex survey shows market expects rate cut at next meeting on March 21