Trump’s win has Mexico’s markets in chaos

11/09/16 Business Insider

Pesos by Flickr user Aleiex
Photo by Flickr user Aleiex

It’s no secret that a Donald Trump makes Mexico nervous. In fact, the Bank of Mexico held an emergency meeting on Wednesday in order to discuss the peso crashing more than 13% to a record low in the wake of Trump’s electoral victory.

While the central bank opted to keep policy on hold as the peso recouped some of its losses, Capital Economics Latin America Economist Adam Collins says his firm has penciled in a half point hike in interest rates to 5.25% at next week’s meeting. That is of course as long as the peso doesn’t come under renewed pressure.

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