Peso Losses Unlikely to Keep Bank of Mexico From Cutting Rate -- Market Talk

Dow Jones11-14

0950 ET - The Bank of Mexico should continue cutting interest rates to remove "the excessively high degree of monetary restriction," despite peso losses in the wake of the U.S. election, economists at BBVA say in a note. Easing core services inflation, along with a challenging situation for economic growth, support a third straight 25 basis-point rate cut to 10.25% in today's decision, they say. They add that the peso's reaction to Trump's election win has been much smaller than in 2016, and that minutes to the central bank's September meeting showed board members already anticipating exchange-rate volatility related to the U.S. election. The peso trades at 20.59 to the U.S. dollar versus 20.52 yesterday. (anthony.harrup@wsj.com)

(END) Dow Jones Newswires

November 14, 2024 09:50 ET (14:50 GMT)

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