Overview

• Banco de México lowered its policy rate by 25 basis points to 7.5% and said it will consider additional reductions.
• The peso strengthened about 0.54% to 18.36 per dollar as the weaker greenback followed fresh U.S. inflation data.
• Mexico’s S&P/BMV IPC rose 0.58% to 62,307.07 points near record levels, with Genomma Lab up 4.61% and Banorte up 3.08%.
• The U.S. PCE price index increased 0.3% in August and 2.7% year over year, while consumer spending rose more than expected.
• INEGI reported a seasonally adjusted August trade surplus of $609 million, and 10- and 20-year Mexican bond yields edged up to 8.55% and 9.21%.