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Banxico cut its overnight interbank rate by 25 basis points to 10.5% on September 26, with four of five committee members in favor and Jonathan Heath voting to hold. The committee said Mexico's economy was undergoing a period of weakness and that employment had slowed, and it noted the peso had been highly volatile since August.
Easier Mexican monetary policy tends to weaken the peso, which raises the local cost of dollar-priced US feed imports and can slow Mexican buying of US corn and meal.
centralbanking.comThomas ChowSep 27, 2024Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
