# Mexico's economy grows by 1% in 2nd quarter | AP News

> Mexico's central bank has raised its benchmark rate to 7.75%, which has supported the peso. The peso traded near 20.30 per dollar, stronger than in recent weeks.

- Date: 2022-07-29 · published 2022-07-29T12:00:00.000Z
- Category: macro · region Mexico · magnitude low
- Page: https://feedsoft.ai/events/40699-mexico-s-economy-grows-by-1-in-2nd-quarter-ap-news
- Commodities: [Mexican Peso (MXN per USD)](https://feedsoft.ai/c/USDMXN.md)

## Why it matters

Tighter Mexican credit conditions and a stronger peso can reduce the affordability of imported feed ingredients for Mexican producers, mildly weighing on US corn and soymeal demand.

## Read by commodity

- USDMXN: bearish ▼

## Sources

- apnews.com: https://apnews.com/article/mexico-caribbean-economy-economic-growth-1273bad6fc538981fa3fe3e868371f21

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