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Banxico cut its benchmark rate by 25 basis points to 7.75% from 8%, and the board was not unanimous, with two members voting for 50 basis points. The statement said the balance of risks for growth leans downward and that uncertainty about inflation remains high.
The peso recovered part of its losses after the decision.
Lower Mexican rates and a softer growth outlook can weigh on the peso, raising the local cost of imported feed ingredients. The effect on US grain and meal prices is limited.
forexcrunch.comFX StreetSep 26, 2019Not 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.
