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The Bank of Mexico raised its benchmark rate 25 basis points to 6.75%, the highest since March 2009, in a unanimous decision that surprised most consensus forecasts. The peso strengthened after the decision, with USD/MXN falling to 18.78.
A stronger peso lowers the peso cost of imported US feed grains and meal, which can ease Mexican feed demand pressure. Tighter Mexican policy also signals persistent inflation that may weigh on domestic consumption.
octaafrica.netMay 18, 2017Not 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.
