Mexico Interest Rate

Last Release

Nov 14, 2024

Actual

10.25

Units In

10.5

Frequency

Daily

Next Release

Dec 19, 2024

Time to Release

1 Months 3 Days 0 Hours

Highest	Lowest	Average	Date Range	Source
11.25 Mar 2023	3 Jun 2014	6.21 %	2005-2024	N/A

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).

Latest Updates

The Bank of Mexico lowered its benchmark interest rate to 10.25% in November 2024, as widely anticipated and aligning with trends in major economies. Global economic growth in Q3 is expected to mirror the previous quarter, though unevenly across countries, while inflation in advanced economies continues to decline, with some nearing central bank targets. In Mexico, financial markets saw volatility, with a depreciated peso and rising government bond yields, as economic activity showed slight improvement but is expected to soften next year. Headline inflation rose from 4.66% in mid-September to 4.76% in October due to supply shocks affecting non-core inflation, while core inflation eased to 3.8%. Despite the recent inflationary pressures, long-term inflation expectations remain stable, and the central bank eased monetary policy, noting improved core inflation trends but maintaining caution due to risks of sticky core inflation and potential currency depreciation.