# USD/MXN: Mexican peso consolidates modest recovery after Banxico rate hike — Octa

> 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.

- Date: 2018-11-15 · published 2018-11-15T12:00:00.000Z
- Category: macro · region Mexico · magnitude low
- Page: https://feedsoft.ai/events/62259-usd-mxn-mexican-peso-consolidates-modest-recovery-after-banxico-rate-hike-octa
- Commodities: [Mexican Peso (MXN per USD)](https://feedsoft.ai/c/USDMXN.md)

## Why it matters

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.

## Read by commodity

- USDMXN: neutral

## Sources

- octaafrica.net: https://www.octaafrica.net/markets/news/view/637013/

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