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Banxico raised its policy rate 25 bp to 11.25%, revised down near-term inflation forecasts and dropped its language pointing to further hikes. Future moves will depend on inflation data, and a pause at the May meeting is possible.
A likely end to the hiking cycle lowers the expected rate differential support for the peso and points to a more stable outlook for the currency. For feed buyers this is a macro factor with limited direct commodity impact.
bbvaresearch.comJavier Amador, Carlos SerranoMar 30, 2023Not 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.
