Banxico Cuts Rate in November, Calls It 'One-Time Adjustment'

Mexico's central bank (Banxico) cut its policy rate in November, framing the move as a one-time adjustment rather than the start of an easing cycle. The decision was widely anticipated by markets, hence 'a surprise not so surprising.' The key uncertainty is whether this signals a shift in the bank's stance or a technical recalibration, with implications for the peso and local rates.

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