# Mexico: Banxico lower benchmark interest rate by 50 bps to 5% — Octa

> 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.

- Date: 2020-06-25 · published 2020-06-25T12:00:00.000Z
- Category: macro · region Mexico · magnitude low
- Page: https://feedsoft.ai/events/52834-mexico-banxico-lower-benchmark-interest-rate-by-50-bps-to-5-octa
- Commodities: [Mexican Peso (MXN per USD)](https://feedsoft.ai/c/USDMXN.md)

## Why it matters

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.

## Read by commodity

- USDMXN: bullish ▲

## Sources

- octaafrica.net: https://www.octaafrica.net/markets/news/view/831363/

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