Mexico's central bank cut its benchmark interest rate for the eleventh straight meeting on September 26th, 2020, lowering it 25 basis points to 4.25% and bringing borrowing costs to its lowest since August of 2016. Economic activity in Mexico began to recover in June and July, although an environment of uncertainty and downside risks prevails. Annual inflation rose to 4.05% in August from 3.62% in July due to higher energy prices, while it remained stable at levels above the goal of 3%.

Interest Rate in Mexico averaged 5.74 percent from 2005 until 2020, 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 October of 2020. source: Banco de México

Interest Rate in Mexico is expected to be 4.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Interest Rate in Mexico to stand at 4.25 in 12 months time. In the long-term, the Mexico Interest Rate is projected to trend around 4.75 percent in 2021 and 5.50 percent in 2022, according to our econometric models.

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Mexico Interest Rate

Actual Previous Highest Lowest Dates Unit Frequency
4.25 4.50 9.25 3.00 2005 - 2020 percent Daily


Calendar GMT Actual Previous Consensus TEForecast
2020-05-14 06:00 PM Interest Rate Decision 5.5% 6% 5.5% 5.5%
2020-06-25 06:00 PM Interest Rate Decision 5% 5.5% 5% 5%
2020-08-13 06:00 PM Interest Rate Decision 4.5% 5% 4.5% 4.5%
2020-09-24 06:00 PM Interest Rate Decision 4.25% 4.5% 4.25% 4.25%
2020-11-12 07:00 PM Interest Rate Decision 4.25% 4%
2020-11-26 03:00 PM Monetary Policy Meeting Minutes
2020-12-17 07:00 PM Interest Rate Decision 4%
2021-01-07 03:00 PM Monetary Policy Meeting Minutes


News Stream
Mexico Cuts Interest Rate for 11th Time
Mexico's central bank cut its benchmark interest rate for the eleventh straight meeting on September 26th, 2020, lowering it 25 basis points to 4.25% and bringing borrowing costs to its lowest since August of 2016. Economic activity in Mexico began to recover in June and July, although an environment of uncertainty and downside risks prevails. Annual inflation rose to 4.05% in August from 3.62% in July due to higher energy prices, while it remained stable at levels above the goal of 3%.
2020-09-24
Mexico Cuts Interest Rate to 4.5%
Mexico's central bank cut its benchmark interest rate for the tenth straight meeting on August 13th, 2020, lowering it 50 basis points to 4.5% and bringing borrowing costs to its lowest since August of 2016. Economic activity in Mexico sharply contracted during the second quarter of 2020, but various indicators point to a recovery in June as companies and businesses started to resume operations. Annual inflation rose to 3.62% in July from 3.33% in June due to higher energy prices but still remains close to the target.
2020-08-13
Mexico Central Bank Cuts Interest Rates Again
Mexico's central bank cut its benchmark interest rate for the ninth straight meeting on June 25th, 2020, lowering it 50 basis points to 5.0% as expected by the market, bringing borrowing costs to its lowest since November of 2016. Policymakers underscored the large impact on the productive activity as well as the evolution of the financial shock from the coronavirus pandemic but noted the headline inflation for the end of 2020 is still at levels close to the target.
2020-06-25
Mexico Cuts Interest Rate to 5.5%
The Central Bank of Mexico slashed its overnight interbank interest rate by 50 bps to 5.5 percent during its May meeting, as widely expected. Policymakers underscored that risks for inflation, economic activity and financial markets from the coronavirus pandemic remained the major challenge for monetary policy and the economy in general. The Bank highlighted that annual headline inflation decreased from 3.25 to 2.15 percent between March and April 2020 while economic activity in Mexico contracted significantly during the first quarter of the year.
2020-05-14

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).