Mexico's central bank decided to raise its benchmark policy rate by 25 bps to 4.25% on June 24th, surprising analysts who expected it unchanged at 4%. Policymakers said the recovery of the Mexican economy registered a significant rebound in March and some moderation in April, while it is likely to resume its recovery path during this year. Regarding inflation, expectations of headline and core inflation in 2021 rose again, while medium and long-term inflation remained relatively stable at levels above the goal of 3%. source: Banco de México

Interest Rate in Mexico averaged 5.67 percent from 2005 until 2021, 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 July of 2021.

Interest Rate in Mexico is expected to be 4.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Interest Rate in Mexico to stand at 4.25 in 12 months time. In the long-term, the Mexico Interest Rate is projected to trend around 5.00 percent in 2022 and 5.50 percent in 2023, according to our econometric models.

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Mexico Interest Rate

Actual Previous Highest Lowest Dates Unit Frequency
4.25 4.00 9.25 3.00 2005 - 2021 percent Daily


Calendar GMT Actual Previous Consensus TEForecast
2021-02-11 07:00 PM Interest Rate Decision 4.0% 4.25% 4% 4.25%
2021-03-25 07:00 PM Interest Rate Decision 4% 4% 4% 4.0%
2021-05-13 06:00 PM Interest Rate Decision 4% 4% 4% 4.0%
2021-06-24 06:00 PM Interest Rate Decision 4.25% 4% 4% 4%
2021-08-12 06:00 PM Interest Rate Decision 4.25%
2021-08-26 02:00 PM Monetary Policy Meeting Minutes
2021-09-30 06:00 PM Interest Rate Decision
2021-10-14 02:00 PM Monetary Policy Meeting Minutes


News Stream
Mexico Unexpectedly Hikes Rates
Mexico's central bank decided to raise its benchmark policy rate by 25 bps to 4.25% on June 24th, surprising analysts who expected it unchanged at 4%. Policymakers said the recovery of the Mexican economy registered a significant rebound in March and some moderation in April, while it is likely to resume its recovery path during this year. Regarding inflation, expectations of headline and core inflation in 2021 rose again, while medium and long-term inflation remained relatively stable at levels above the goal of 3%.
2021-06-24
Mexico Holds Interest Rate at 4%
Mexico's central bank decided unanimously to keep the benchmark interest rate unchanged at 4% on May 13th and in line with market expectations. Policymakers noted that annual inflation increased to 6.08% in April, the highest since December 2017, from 4.67% in March and that inflation expectations for 2021 increased and those for the medium and long term remained stable at levels above the goal of 3%. The Governing Board will take the necessary actions for the policy rate to be consistent with the orderly and sustained convergence of headline inflation to the target.
2021-05-13
Mexico Holds Interest Rate at 4%
Mexico's central bank held the benchmark interest rate unchanged at 4% on March 25th after cutting it by 25 basis points in the February meeting and matching market expectations. Policymakers noted that annual inflation increased to 4.12% in March from 3.54% in January and that inflation expectations increased in the period. Still, they still expect convergence to 3% in the second quarter of 2022. Policymakers added that it will take the necessary actions in order for the policy rate to be consistent with the orderly and sustained convergence of headline inflation to the target. The decision was unanimous.
2021-03-25
Mexico Cuts Interest Rate to 4.0%
Mexico's central bank cut its benchmark interest rate by 25 bps to 4.00 percent on 11 February 2021, matching market expectations. The bank slashed borrowing costs after two consecutive holds to resume an easing cycle of nearly 1-1/2 years, as inflation data confirmed that the trajectory of inflation converges to the target. Policymakers underscored exchange rate stability and slightly better-than-expected domestic activity Since the October meeting, inflation declined from 4.09% to 3.54%, with core inflation also trending lower. Policymakers added will take the necessary actions in order for the policy rate to be consistent with the orderly and sustained convergence of headline inflation to the target. The decision was unanimous.
2021-02-11

Mexico Interest Rate
In Mexico, interest rate decisions are taken by the Bank of Mexico (Banco de México). Starting January of 2008, Banco de México has adopted as an operating target the overnight interbank rate (tasa de fondeo bancario) instead of the level of commercial banks’ current account balances at the central bank (corto).