The peso depreciated on Thursday after the Central Bank announced a cutting -by -point cut at its key interest rate, as the market anticipated, and warned that forward they could consider more adjustments of similar magnitude.
The unanimous decision of the Governing Board of the monetary entity led to the interbank anchoring rate of Mexico to 8.5%, its lowest level from 2022, a week after the US Federal Reserve maintained interest rates without changes in a range of 4.25%to 4.50%.
The currency quoted in 19,4817 per dollar almost at the end of the businesses, with a depreciation of 0.52% compared to the LSE reference price on Wednesday.
“Although the cut was already widely anticipated by the market, the pressure against the Mexican weight continues,” said Enrique Bazaldúa, independent operator of the change market. “If the buying force persists, movements are not ruled out around 19.60 in the medium term,” he added.
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The session was also marked by the publication of a series of weak economic data in the United States, including a report that showed a slowdown of retail sales in April, in addition to a fall in manufacturing production.
The referential shareholding index S&P/BMV IPC rose 0.55% to 57,959.72 points, on its fourth consecutive day of profits with an accumulated return of 2.5%.
The GCC cement titles led the increases in the session, with 4.66% more than 181.53 pesos, followed by those of Vesta, dedicated to the development and administration of industrial ships and distribution centers, which added 3.94% to 55.88 pesos.
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In the secondary debt market, the 10 -year bonus yield rose two base points to 9.55%, while the 20 -year -old rate jumped 16, 10.10%.
With Reuters information
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