Sanchez admitted that the Mexican economy grew more slowly than expected by the bank in the first three months of the year, but recent trade data show that the poor performance is likely to be transitory.
"Yes, we could have a little more um weak first quarter than originally planned, but the rest of the year is likely to continue according to the forecasts of most analysts," said Sanchez in the context of a forum Institute of International Finance in Costa do Sauipe, Brazil.
Asked if the central bank planned to revise down its estimate of economic growth, Sanchez replied: "It is likely (...) we do not know to what extent there would be a review."
In its latest quarterly inflation report, the central bank kept its growth forecast at between 3.0 percent and 4.0 percent.
The bank plans to issue its next report in May forecast revisions.
The governor of the central bank of Mexico, Agustín Carstens, said on Friday that economic growth in the first quarter had been affected by slower growth in the U.S. and bad weather.
The Mexican central bank said in its statement after its monetary policy decision of March 21 that the outlook for growth had yet to improve significantly.
At that meeting, the bank kept its benchmark interest rate at a record low of 3.50 percent.
The growth of Mexico sank 1.1 percent last year, a minimum of four years due to consumer spending and industry disappointed, tarnishing hopes of a strong recovery in the second largest economy in Latin America this year.
The faltering U.S. demand for Mexican manufacturing exports and weak consumption have doubts about the projected government forecast growth of 3.9 percent in 2014, despite a series of reforms passed last year to stimulate the economy in the long run.
