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Banxico cut its benchmark rate by 50 basis points to 4.5%, the lowest in four years, with one board member favoring a 25 basis point cut. The central bank flagged a possible uptick in inflation before the end of 2020 and expects the economy to shrink by up to 10.5% this year.
Lower Mexican rates weigh on the peso and raise import costs for feed buyers. The deep economic contraction reduces demand for animal protein and feed in Mexico.
brecorder.comReutersAug 13, 2020Not 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.
