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JPMorgan Chase and Itau Unibanco now expect Mexico's central bank to raise rates by a quarter point at its November 15 decision, reversing earlier forecasts of no change. JPMorgan also sees a significant chance of a half-point hike or a further quarter-point hike in December.
The shift follows the peso's sharpest decline in two years after the airport cancellation.
Tighter Mexican monetary policy to defend the peso would slow domestic credit and economic activity, which can reduce demand for feed and meat in Mexico over time. The direct impact on feed commodity prices is limited.
bloomberg.comEric MartinOct 30, 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.
