# Bank cuts interest rate, announces US $31-billion economic stimulus

> Banxico cut its benchmark rate by 50 basis points to 6% on April 21, 2020, and announced 750 billion pesos (US$30.5 billion) in support for the financial system. Analysts expect further cuts later in 2020 to reach 4.5% by year end.

- Date: 2020-04-22 · published 2020-04-22T12:00:00.000Z
- Category: macro · region Mexico · magnitude low
- Page: https://feedsoft.ai/events/53858-bank-cuts-interest-rate-announces-us-31-billion-economic-stimulus
- Commodities: [Mexican Peso (MXN per USD)](https://feedsoft.ai/c/USDMXN.md)

## Why it matters

Monetary easing and liquidity support help stabilise the peso and Mexican credit conditions, which affects the cost of imported feed ingredients for Mexican livestock and feed producers.

## Read by commodity

- USDMXN: neutral

## Sources

- mexiconewsdaily.com: https://mexiconewsdaily.com/news/bank-cuts-interest-rate-announces-us-31-billion-economic-stimulus/

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