The Mexican peso appreciated on Monday, at the start of a week that will be marked by the release of local inflation figures and the monetary policy decision of the Bank of Mexico, which is expected to cut its key interest rate again.
The domestic currency was trading at 19.3817 per dollar, up 0.11 percent from Friday’s closing price, breaking a three-day losing streak.
Last week, the Federal Reserve began a process of monetary easing with an aggressive rate cut of half a percentage point, paving the way for the Mexican central bank to reduce interest rates in the face of a moderation in local inflation. Consumer price figures for the first half of September are expected to be released on Tuesday and Banco de México is expected to announce its sixth monetary policy decision of the year on Thursday, after reducing the cost of credit by 25 basis points in August.
#light #rebound #weight
