Overview
- Mexico’s central bank delivered a widely expected 25 basis‑point cut in a 4–1 vote, marking a twelfth consecutive reduction since early 2024.
- The peso firmed slightly to about 18.56 per dollar as the dollar index slipped and October inflation in Mexico eased to 3.57% headline with core at 4.28%.
- Banxico said it will assess further reductions, and analysts cited the statement in projecting a potential additional 25 bp cut in December.
- Argentina’s Treasury rolled over 111% of maturities in its latest auction with lower rates and longer terms under new finance chief Alejandro Lew.
- Argentine sovereign bonds extended gains with JP Morgan’s risk index around 621 bps; FX activity was light during the banking holiday, with the official near 1,475 pesos and the blue near 1,435, as investors watch for steps to rebuild reserves.