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Banxico raised its overnight rate by 0.25% to 6.75%, against market expectations for a hold. The central bank expects inflation to overshoot its 3% target by end-2017 while the labor market has no slack.
The peso rallied following the decision.
The rate hike strengthens the peso, which reduces the local currency cost of imported feed ingredients for Mexican buyers. Diverging policy with the Fed supports continued peso strength against the dollar.
finance.yahoo.comDylan JusinoMay 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.
