# MNI INTERVIEW: Banxico Cuts Hinge On Iran Outlook...- 03-31-2026 | MNI

> Former Banxico research official Enrique Covarrubias, now chief economist at Actinver, told MNI that the central bank's recent 25bp cut may have been its last of the cycle. Further easing would depend on the duration and magnitude of the Iran war, with the terminal rate previously estimated near 6.5%.

- Date: 2026-03-31 · published 2026-03-31T12:00:00.000Z
- Category: macro · region Mexico · magnitude low
- Page: https://feedsoft.ai/events/20377-mni-interview-banxico-cuts-hinge-on-iran-outlook-03-31-2026-mni
- Commodities: [Mexican Peso (MXN per USD)](https://feedsoft.ai/c/USDMXN.md)

## Why it matters

A pause or end to Mexican rate cuts supports the peso and keeps Mexican feed-import financing costs elevated, while war-driven oil shocks feed inflation concerns. The direct grain and oilseed price effect is limited.

## Read by commodity

- USDMXN: bearish ▼

## Sources

- mnimarkets.com: https://www.mnimarkets.com/articles/mni-interview-banxico-cuts-hinge-on-iran-outlook-covarrubias-1774962866192

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.