Mexican central bank overnight rate 4.50% vs 4.50% expected
Mexican central bank decision
One newswire reported that they had left rates unchanged and that sparked a bid in the Mexican peso but it reversed on the correction, all prior to the actual decision.
In the immediate aftermath of the decision price action has been choppy. In the big picture, USD/MXN is right in the middle of the recent range.
The statement said it was not unanimous and that one member voted to cut by only 25 basis points.
Looking ahead, the central bank says more slack is seen on the horizon and that risks remain tilted to the downside.