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Banxico raised its benchmark rate by 75 basis points to a record 8.5 percent, its second straight 75-point increase, with a unanimous vote. The bank said future moves would depend on prevailing conditions, which analysts read as a slightly more dovish signal.
Mexico is fighting its highest inflation in more than two decades.
Higher Mexican rates support the peso and keep the rate gap with the US wide, which lowers dollar-priced feed costs in pesos. The move is a meaningful macro driver but is largely expected given the Fed's hikes.
aljazeera.comReutersAug 11, 2022Not 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.
