Mexico's central bank raised its benchmark policy rate by 25 bps to 5.0 percent on November 9th, as expected and marking the fourth consecutive hike. The monetary authority said that despite the shocks that have increased inflation are expected to be transitory, due to their variety, magnitude, and the extended horizon over which they have affected it, they may pose risks to the price formation process and inflation expectations. In order to avoid such risks, it was deemed necessary to reinforce the monetary policy stance by adjusting it to the trajectory required for inflation to converge to its 3% target within the forecast horizon. Still, the monetary authority said that preliminary data for the third-quarter points to a contraction, while Banxico expects that the economy will resume its recovery in the last quarter of 2021. Meantime, consumer inflation data for October showed a hotter-than-expected increase in prices of 6.24 percent, while the core inflation was up by 5.19 percent. source: Banco de México

Interest Rate in Mexico averaged 5.65 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 December of 2021.

Interest Rate in Mexico is expected to be 5.00 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 5.25 percent in 2022 and 5.50 percent in 2023, according to our econometric models.

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Mexico Interest Rate


Calendar GMT Actual Previous Consensus TEForecast
2021-08-12 06:00 PM Interest Rate Decision 4.5% 4.25% 4.5% 4.5%
2021-09-30 06:00 PM Interest Rate Decision 4.75% 4.5% 4.75% 4.75%
2021-11-11 07:00 PM Interest Rate Decision 5% 4.75% 5% 5%
2021-12-16 07:00 PM Interest Rate Decision 5%
2022-01-06 03:00 PM Monetary Policy Meeting Minutes


Related Last Previous Unit Reference
Interest Rate 5.00 4.75 percent Nov/21
Interbank Rate 5.13 4.98 percent Nov/21
Money Supply M0 2225574.30 2198931.10 MXN Million Oct/21
Money Supply M1 5880490854.00 5854424721.00 MXN Thousand Sep/21
Money Supply M2 10750520596.00 10737912864.00 MXN Thousand Sep/21
Money Supply M3 12886923432.00 12803247860.00 MXN Thousand Sep/21
Foreign Exchange Reserves 212003.00 211671.00 USD Million Sep/21
Banks Balance Sheet 9072313.35 9030833.69 MXN Million Aug/21
Loans to Private Sector 2661943183.00 2657292926.00 MXN Thousand Sep/21
Central Bank Balance Sheet 4937494983.00 4836609982.00 MXN Thousand Oct/21

News Stream
Mexico Hikes Interest Rate to 5.00%
Mexico's central bank raised its benchmark policy rate by 25 bps to 5.0 percent on November 9th, as expected and marking the fourth consecutive hike. The monetary authority said that despite the shocks that have increased inflation are expected to be transitory, due to their variety, magnitude, and the extended horizon over which they have affected it, they may pose risks to the price formation process and inflation expectations. In order to avoid such risks, it was deemed necessary to reinforce the monetary policy stance by adjusting it to the trajectory required for inflation to converge to its 3% target within the forecast horizon. Still, the monetary authority said that preliminary data for the third-quarter points to a contraction, while Banxico expects that the economy will resume its recovery in the last quarter of 2021. Meantime, consumer inflation data for October showed a hotter-than-expected increase in prices of 6.24 percent, while the core inflation was up by 5.19 percent
2021-11-11
Mexico Hikes Interest Rate to 4.75%
Mexico's central bank decided to raise its benchmark policy rate by 25 bps to 4.75% on September 30th, as expected saying that despite the shocks that have increased inflation are expected to be transitory, due to their variety, magnitude, and the extended horizon over which they have affected it, they may pose risks to the price formation process and to inflation expectations. In order to avoid such risks, it was deemed necessary to reinforce the monetary policy stance by adjusting it to the trajectory required for inflation to converge to 1 its 3% target within the forecast horizon.
2021-09-30
Mexico Central Bank Hikes Rates
Mexico's central bank decided to raise its benchmark policy rate by 25 bps to 4.50% on August 12th, as widely expected. Policymakers said the recovery of the Mexican economy continued during the second quarter and is expected to continue for the rest of the year, although risks persist due to the increase in COVID-19 infections. 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%.
2021-08-12

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).