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Standard Chartered now expects Banxico to raise its policy rate by 75bp in June, up from an earlier forecast of 25bp, after the central bank lifted rates by 50bp in May. The bank said a hawkish Banxico should support the peso in the near term, while noting the peso's rising correlation with US equities.
Tighter Mexican monetary policy supports the peso, which lowers import costs for feed grains and meal priced in dollars. Higher rates also slow Mexican livestock credit and could eventually reduce feed demand.
teletrade.orgMay 31, 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.
