Bank of Mexico Holds Interest Rate at 6.5%

The Bank of Mexico announced its latest interest rate decision, maintaining the benchmark rate at 6.5%. This decision holds the rate steady, matching the previous rate of 6.5%. No consensus forecast was available for comparison with this specific release, meaning there was no surprise figure to report against market expectations.

Following the announcement, the USDMXN currency pair showed a measured reaction. Five minutes after the release, USDMXN moved -65 pips. Fifteen minutes after the release, the pair had moved -91 pips. This observed market movement is smaller than the median 1-hour move of 279 pips typically seen after past Bank of Mexico interest rate decisions. Direction-reliability statistics are not yet unlocked for this event due to insufficient historical data.