Mexico central bank sets benchmark interest rate at 10.0%

Market news

10 November 2022

Mexico central bank sets benchmark interest rate at 10.0%

Reuters reported that the Bank of Mexico hiked its key interest rate by 75 basis points to a record 10.00% on Thursday, in line with forecasts and following in the footsteps of the U.S. Federal Reserve's own recent three-quarter of a percentage point increase.

''In a departure from recent decisions, the bank's five board members did not vote unanimously for the increase, with deputy governor Gerardo Esquivel voting to hike the key rate by 50 basis points.''

USDMXN bears in play

Meanwhile, USDMXN is down around 1% on the day following a move lower in the greenback, supporting the emerging market complex:

DXY is offered below daily support on US inflation data miss on Thursday:

Currencies. Daily history for Thursday, November 10, 2022

Commodities. Daily history for Wednesday, November 9, 2022

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