Mexico's central bank raised its benchmark policy rate unanimously by 75 bps to 7.75% on June 23rd, 2022, as expected, amid persistent inflationary pressures resulting from the Russia-Ukraine war and prospects of tighter monetary policy worldwide. It was the ninth rate-hike since the monetary board started normalization process in June last year, lifting borrowing costs to the highest since October of 2019. In view of greater-than-anticipated pressures on inflation, forecasts for headline inflation were revised upwards up to the third quarter of 2023 and core inflation for entire horizon, although convergence to the 3% target in the first quarter of 2024 is maintained. Further, the economic activity is expected to continue recovering gradually during the second quarter of 2022. However, the central bank emphasized its intentions to continue raising the interest rates, including taking forceful measures if conditions so require. source: Banco de México
Interest Rate in Mexico averaged 5.67 percent from 2005 until 2022, reaching an all time high of 9.25 percent in October of 2005 and a record low of 3 percent in June of 2014. This page provides - Mexico Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Mexico Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on August of 2022.
Interest Rate in Mexico is expected to be 9.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Mexico Interest Rate is projected to trend around 9.00 percent in 2023 and 8.25 percent in 2024, according to our econometric models.