USD/MXN Bounces as Bank of Mexico Elects to Cut Rates by 0.25%

USD/MXN Bounces as Bank of Mexico Elects to Cut Rates by 0.25%
2021-02-11 19:00:00
Brendan Fagan,
Izaac Brook,
Bank of Mexico cuts rates by 25 bps to 4.00% in a unanimous decision
Rate cut comes as Mexican economy struggles and remains frail
USD/MXN bounced in immediate trade following the release
Advertisement
The Bank of Mexico unanimously decided to cut interest rates by 25 bps to 4.00% after meeting on Thursday. The decision was in line with expectations, as a cut of 25 bps was foreseen as extremely likely given recent economic weakness in Mexico. The rate cut comes as the Mexican economy experienced its worst year since the Great Depression, with economic activity declining by 8% as a result of the pandemic.

Related Keywords

Mexico ,Mexican ,Jonathan Heath ,Javier Guzman ,Galia Borja ,Brendan Fagan Izaac , ,Great Depression ,Mexico Target Rate ,Governing Board ,Deputy Governor ,Deputy Governor Jonathan Heath ,Brendan Fagan ,Izaac Brook ,மெக்ஸிகோ ,மெக்ஸிகன் ,ஜொனாதன் ஹீத் ,ஜேவியர் குஸ்மான் ,காலியா போர்ஜ ,பிரெண்டன் ஃபாகன் இஜாக் ,நன்று மனச்சோர்வு ,மெக்ஸிகோ இலக்கு ரேட் ,ஆளும் பலகை ,துணை கவர்னர் ,துணை கவர்னர் ஜொனாதன் ஹீத் ,பிரெண்டன் ஃபாகன் ,இஜாக் சிற்றாறு ,