# Banxico keeps rates at 11.00%, Peso continues to depreciate

> Banxico held its benchmark rate at 11.00% on June 27, with Deputy Governor Mejia Castelazo voting for a 25 basis point cut. The central bank cited volatile financial markets and idiosyncratic factors, and the peso continued to depreciate with USD/MXN near 18.35.

- Date: 2024-06-27 · published 2024-06-27T12:00:00.000Z
- Category: macro · region Mexico · magnitude low
- Page: https://feedsoft.ai/events/29999-banxico-keeps-rates-at-11-00-peso-continues-to-depreciate
- Commodities: [Mexican Peso (MXN per USD)](https://feedsoft.ai/c/USDMXN.md)

## Why it matters

Higher-for-longer Mexican rates and a weaker peso tighten financing and raise import costs for Mexican feed buyers, a modest negative for US feed grain and meal demand.

## Read by commodity

- USDMXN: bullish ▲

## Sources

- fxstreet.com: https://www.fxstreet.com/news/banxico-keeps-rates-at-1100-peso-continues-to-depreciate-202406271933

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