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.

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Mexico Interest Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-05-12 06:00 PM Interest Rate Decision 7% 6.5% 7% 7.0%
2022-06-23 06:00 PM Interest Rate Decision 7.75% 7% 7.75% 7.75%
2022-08-11 06:00 PM Interest Rate Decision 8.5% 7.75% 8.5% 8.50%
2022-09-29 06:00 PM Interest Rate Decision 8.5% 9.25% 9.25%
2022-10-13 02:00 PM Monetary Policy Meeting Minutes
2022-11-10 07:00 PM Interest Rate Decision


Related Last Previous Unit Reference
Interest Rate 8.50 7.75 percent Aug 2022
Interbank Rate 8.50 8.04 percent Aug 2022
Money Supply M0 2459987.30 2489346.70 MXN Million Aug 2022
Money Supply M1 6508494750.00 6455429193.00 MXN Thousand Jul 2022
Money Supply M2 11791260117.00 11638513726.00 MXN Thousand Jul 2022
Money Supply M3 14077117553.00 13794243560.00 MXN Thousand Jul 2022
Foreign Exchange Reserves 203554.00 203590.00 USD Million Jul 2022
Banks Balance Sheet 9566298.00 9457068.40 MXN Million Apr 2022
Loans to Private Sector 2961152837.00 2932219157.00 MXN Thousand Jul 2022
Central Bank Balance Sheet 4650244918.00 4605078983.00 MXN Thousand Aug 2022

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).
Actual Previous Highest Lowest Dates Unit Frequency
8.50 7.75 9.25 3.00 2005 - 2022 percent Daily

News Stream
Mexico Hikes Interest Rate to 8.5%
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
2022-08-11
Mexico Hikes Interest Rate to 7.75% as Expected
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.
2022-06-23
Mexico Lifts Interest Rate to 7%
Mexico's central bank raised its benchmark policy rate by another 50 bps to 7% on May 12th, 2022, as expected, amid concerns about upside inflation risks from the war in Ukraine and expectations of faster monetary policy tightening worldwide. It was the eighth consecutive hike, bringing borrowing costs to the highest since February 2020. The decision was not unanimous. Policymakers noted that Mexican headline inflation and the closely watched core index rose in April to their highest levels since January 2001. In view of greater-than-anticipated pressures on inflation, forecasts for headline and core inflation were revised upwards up to the second and third quarter of 2023, respectively, although convergence to the 3% target in the first quarter of 2024 was maintained. Meanwhile, preliminary data suggests that economic activity rebounded during the first quarter.
2022-05-12