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Banxico cut its benchmark rate by 50 basis points to 5% on June 25, 2020, its ninth consecutive cut. The statement said risks to growth were tilted sharply downward and that the pandemic intensified in April.
Lower Mexican rates weaken the peso's support and can raise import costs for feed ingredients priced in dollars, though the effect on grain and meal prices is indirect.
octaafrica.netJun 25, 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.
