The Bank of Mexico lowered its benchmark interest rate by 25 basis points to 11.00% during its March 2024 meeting, aligning with expectations and marking the first rate cut after seven consecutive pauses. The governing council noted expectations for increased economic activity in Q1 2024, supported by a robust labor market. Despite a temporary uptick in inflation at the end of 2023 and early 2024, annual inflation decreased to 4.40% in February 2024, mainly due to non-core component reversals, while core inflation continued its downward trend. Inflation forecasts for 2024 and 2025 were slightly revised downward, although long-term expectations remain above the target. Despite these challenges, the Board maintains a restrictive monetary stance to support inflation convergence to the 3% target. Future decisions will hinge on available information, inflation trends, and the impact of current monetary policy on inflation dynamics. source: Banco de México
The benchmark interest rate in Mexico was last recorded at 11 percent. Interest Rate in Mexico averaged 6.11 percent from 2005 until 2024, reaching an all time high of 11.25 percent in March of 2023 and a record low of 3.00 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 March of 2024.
The benchmark interest rate in Mexico was last recorded at 11 percent. Interest Rate in Mexico is expected to be 10.75 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 8.00 percent in 2025, according to our econometric models.