# Bank of Mexico hikes key interest rate to 11.25%, takes dovish tone on future moves

> Bank of Mexico raised its benchmark rate by 25 basis points to 11.25% in a unanimous vote on March 30. The board moderated the pace of its tightening cycle and took a more dovish tone on future moves.

- Date: 2023-03-30 · published 2023-03-30T12:00:00.000Z
- Category: macro · region Mexico · magnitude low
- Page: https://feedsoft.ai/events/37079-bank-of-mexico-hikes-key-interest-rate-to-11-25-takes-dovish-tone-on-future
- Commodities: [Mexican Peso (MXN per USD)](https://feedsoft.ai/c/USDMXN.md)

## Why it matters

A smaller hike and dovish guidance signal a possible end to Mexico's tightening, which can support the peso and tighten the rate gap with the US. For feed buyers this is a macro backdrop with little direct grain price impact.

## Read by commodity

- USDMXN: bearish ▼

## Sources

- reuters.com: https://www.reuters.com/markets/mexican-central-bank-hikes-benchmark-interest-rate-1125-2023-03-30/

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