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The Bank of Mexico cut its policy rate by 25 basis points to 7% on February 13, its first cut under the new communications regime. Policymakers described economic activity as stagnant for several quarters and said slack in the economy continued to widen.
Lower Mexican interest rates tend to weaken the peso, which raises the local cost of imported feed grains and meal. Weak domestic demand also points to softer livestock and poultry feed use.
centralbanking.comCentral Banking NewsdeskFeb 14, 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.
