# Mexico central bank pulls the rate trigger - BNamericas

> Mexico's central bank raised its benchmark interest rate 25 basis points to 8.00%, the highest level since January 2009. The board cited sticky inflation and a sharp peso depreciation amid a weaker external growth outlook and political uncertainty.

- Date: 2018-11-16 · published 2018-11-16T12:00:00.000Z
- Category: macro · region Mexico · magnitude low
- Page: https://feedsoft.ai/events/62255-mexico-central-bank-pulls-the-rate-trigger-bnamericas
- Commodities: [Mexican Peso (MXN per USD)](https://feedsoft.ai/c/USDMXN.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Higher Mexican rates raise feed-import financing costs for Mexican feed and livestock buyers, and a weaker peso raises the local-currency cost of imported corn, soymeal and other feed ingredients.

## Read by commodity

- CORN: bullish ▲
- USDMXN: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2018-11-20 | [Political angst affecting the exchange rate, says Bank of Mexico - Central Banking](https://feedsoft.ai/events/62256-political-angst-affecting-the-exchange-rate-says-bank-of-mexico-central-banking.md) | -1.1% | +7.6% |
| CORN | 2016-12-05 | [The good oil on grain prices… - Grain Central](https://feedsoft.ai/events/73542-the-good-oil-on-grain-prices-grain-central.md) | +4.1% | +2.4% |
| CORN | 2018-02-20 | [Why the commodity rally will get back on track \| Wood Mackenzie](https://feedsoft.ai/events/66407-why-the-commodity-rally-will-get-back-on-track-wood-mackenzie.md) | +0.0% | +2.6% |
| CORN | 2023-04-17 | [Climate Change and Risks to Midwest Agriculture - Federal Reserve Bank of Chicago](https://feedsoft.ai/events/13282-climate-change-and-risks-to-midwest-agriculture-federal-reserve-bank-of-chicago.md) | -1.9% | -3.1% |
| CORN | 2016-06-06 | [Corn prices rally over two percent](https://feedsoft.ai/events/5265-corn-prices-rally-over-two-percent.md) | +2.7% | -7.0% |

## Sources

- bnamericas.com: https://www.bnamericas.com/en/news/mexico-central-bank-pulls-the-rate-trigger

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