The Central Bank of Mexico raised its benchmark policy rate unanimously by 75 bps to 8.5% on August 11th, as expected, bringing borrowing costs to the highest since November 2005. It was the tenth rate hike since the monetary board started the normalization process in June last year amid persistent inflationary pressures. In view of greater-than-anticipated inflationary pressures, forecasts for headline and core inflation were revised upwards up to the third quarter of 2023, although convergence to the 3% target is still projected to be attained in the first quarter of 2024. The Board will assess the magnitude of the upward adjustments in the reference rate for its next policy decisions based on the prevailing conditions source: Banco de México
Interest Rate in Mexico averaged 5.69 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 September of 2022.
Interest Rate in Mexico is expected to be 9.25 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 10.75 percent in 2023 and 10.00 percent in 2024, according to our econometric models.