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The peso held modest gains after Banxico raised its key rate 25 basis points to 8.0%, with one board member having sought a 50bp hike. The central bank cited significant depreciation driven by external factors and concerns over the incoming administration's policies.
The hike was widely expected and had limited market impact, so feed buyers see little immediate change in import costs beyond the existing peso weakness.
octaafrica.netNov 15, 2018Not 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.
