Mexico Interest Rate

The benchmark interest rate in Mexico was last recorded at 3.50 percent. Interest Rate in Mexico is reported by the Banco de México. Interest Rate in Mexico averaged 5.88 Percent from 2005 until 2014, reaching an all time high of 9.25 Percent in October of 2005 and a record low of 3.50 Percent in October of 2013. 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). This page provides - Mexico Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. 2014-04-25

Actual Previous Highest Lowest Forecast Dates Unit Frequency
3.50 3.50 9.25 3.50 3.50 | 2014/06 2005 - 2014 Percent Monthly

TO

Mexico Interest Rate
LIST BY COUNTRY


CALENDAR GMT Country Event Reference Actual Previous Consensus Forecast
2013-10-25 03:00 PM Mexico
Interest Rate Decision
3.50% 3.75% 3.50% 3.75%
2013-12-06 03:00 PM Mexico
Interest Rate Decision
3.50% 3.50% 3.50%
2014-01-31 03:00 PM Mexico
Interest Rate Decision
3.5% 3.5% 3.5% 3.5%
2014-03-21 03:00 PM Mexico
Interest Rate Decision
3.5% 3.5% 3.5% 3.5%
2014-04-25 03:00 PM Mexico
Interest Rate Decision
3.5% 3.5% 3.5%
2014-06-06 03:00 PM Mexico
Interest Rate Decision
3.5%
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Money Last Previous Highest Lowest Forecast Unit
Foreign Exchange Reserves 2385905712.00 2014-03-31 2394140716.00 2402091418.00 4200.00 2440771634.47 2014-06-30 MXN THO [+]
Interbank Rate 3.80 2014-03-15 3.79 89.48 3.78 4.00 2014-04-30 Percent [+]
Loans to Private Sector 2695422310.00 2014-02-28 2695598739.00 2702256425.00 609090512.00 2763264245.96 2014-06-30 MXN THO [+]
Money Supply M0 858037.90 2014-03-31 864385.40 917875.80 2741.00 835646.71 2014-06-30 MXN Million [+]
Money Supply M1 2440336079.00 2014-02-28 2455784504.00 2513019332.00 3093600.00 2513706108.28 2014-06-30 MXN THO [+]
Money Supply M2 9692399296.00 2014-02-28 9620205447.00 9692399296.00 15370409.00 9903090863.72 2014-06-30 MXN THO [+]
Money Supply M3 11820638720.00 2014-02-28 11641298500.00 11820638720.00 15483730.00 12139798059.30 2014-06-30 MXN THO [+]
Interest Rate 3.50 2014-03-21 3.50 9.25 3.50 3.50 2014-06-30 Percent [+]
[+]


Mexico Leaves Monetary Policy on Hold

At its March 21st, 2014 meeting, Bank of Mexico left the overnight interbank rate steady at 3.5 percent for the third straight meeting, as it considers that the current policy stance remains appropriate to reach the 3 percent inflation target.

In October last year, the central bank had cut rates to a record low 3.5 percent to boost growth. But taxes from a new fiscal reform introduced in January of 2014 pushed consumer prices up and the inflation remains above the central bank’s acceptable limit of 4 percent.

Yet, policymakers noted that upward pressures to the inflation rate had eased and another spikes are unlikely. In February, consumer prices slowed to an annual 4.23 percent, after hitting a 7-month high 4.48 percent in January. 

Joana Taborda | joana.taborda@tradingeconomics.com
3/21/2014 6:45:40 PM

RECENT RELEASES

Mexico Leaves Rate on Hold for Second Time
At its January 31st, 2014 meeting, Bank of Mexico decided to leave the overnight interbank rate unchanged at 3.5 percent, as widely expected. The central bank said that risks to the inflation rate have deteriorated. Published on 2014-01-31

Mexico Monetary Policy Unchanged in December
At its December 6th meeting, Central Bank of Mexico decided to leave the overnight interbank rate on hold at 3.5 percent, following the previous two rate cuts. Published on 2013-12-06


Interest Rate | Notes
The interest rate shown on this page refers to the central bank benchmark interest rate. Usually, the central bank benchmark interest rate is the overnight rate at which central banks make loans to the commercial banks under their jurisdiction. Moving the benchmark interest rate, the central bank is able to make an impact on interest rates of commercial banks, inflation level of the country and national currency exchange rate. Reduction of interest rates should bring increase in business activity, a rise in inflation rate and weakening of national currency. In case of increase in interest rates the level of business activity is likely to drop, inflation declines and national currency strengthens.


RELATED NEWS

Mexico Unemployment Rate Up to 4.8% in March  
Mexican unadjusted jobless rate rose to 4.8 percent in March of 2014, up from 4.65 percent in February and 4.51 percent a year earlier. Upon seasonal adjustment, the unemployment rate rose to its highest in more than one year to 5.25 percent.
Mexico Inflation Rate Decelerates in March  
Mexican annual consumer prices slowed for the second straight month to 3.76 percent in March of 2014, down from 4.23 percent in February. The inflation is now below the central bank’s 4 percent limit.
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In February of 2014, Mexico posted a USD 976 million trade surplus, after recording in January the highest deficit on record. The figure compares with a USD 80 million surplus in the same month last year.
Mexico Unemployment Rate Falls in February  
Mexican jobless rate decreased to 4.65 percent in February of 2014 from 5.05 percent in January. A year ago, the unemployment rate was recorded at 4.85 percent.
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At its March 21st, 2014 meeting, Bank of Mexico left the overnight interbank rate steady at 3.5 percent for the third straight meeting, as it considers that the current policy stance remains appropriate to reach the 3 percent inflation target.
Mexico Inflation Rate Slows in February  
Mexican consumer prices rose by an annual 4.23 percent in February, down from 4.48 percent in January, as the effects of new taxes eased. A year earlier, the inflation was recorded at 3.55 percent.
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In January of 2014, Mexican trade balance posted a USD 3.195 billion deficit, the highest trade deficit on record and mainly due to a fall in oil exports.
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In January of 2014, Mexican jobless rate edged up to 5.05 percent, after falling in December last year to a 5-year low at 4.25 percent.
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Mexico’s GDP growth slowed in the last quarter of 2013 hurt by a drop in industrial production. The economy advanced a meager 0.2 percent on a quarter-on-quarter seasonally adjusted basis, down from a revised 0.95 percent growth rate in the previous three-month period.
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In the last three months of 2013, Mexican economy slowed for the second straight quarter expanding only 0.7 percent over a year earlier, hurt by lower production in agriculture and mining.
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