# Mexico's central bank cuts key rate for the first time since 2021

> Banxico cut its benchmark rate by 25 basis points to 11%, its first reduction in over three years. The vote was four to one, and the peso barely moved after the decision.

- Date: 2024-03-21 · published 2024-03-21T12:00:00.000Z
- Category: macro · region Mexico · magnitude low
- Page: https://feedsoft.ai/events/31417-mexico-s-central-bank-cuts-key-rate-for-the-first-time-since-2021
- Commodities: [Mexican Peso (MXN per USD)](https://feedsoft.ai/c/USDMXN.md)

## Why it matters

The rate cut has little immediate effect on feed prices, since the peso barely reacted and the move was well telegraphed.

## Sources

- mexiconewsdaily.com: https://mexiconewsdaily.com/business/mexico-central-bank-cuts-key-rate/

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