Mexico Interest Rate  2005-2016 | Data | Chart | Calendar | Forecast

The central bank of Mexico left its benchmark interest rate on hold at 3.75 percent for the second consecutive time on May 5th, 2016, as widely expected. Policymakers said inflation expectations are in line with the 3 percent target but would monitor risks arising from currency weakness and showed concerns over further volatility in the financial markets and imbalances in the oil market. Interest Rate in Mexico averaged 5.35 percent from 2005 until 2016, reaching an all time high of 9.25 percent in October of 2005 and a record low of 3 percent in June of 2013. Interest Rate in Mexico is reported by the Banco de México.

Mexico Interest Rate
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Actual Previous Highest Lowest Dates Unit Frequency
3.75 3.75 9.25 3.00 2005 - 2016 percent Daily
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. Mexico Interest Rate - actual data, historical chart and calendar of releases - was last updated on June of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-02-17 05:00 PM Interest Rate Decision 3.75% 3.25%
2016-03-18 07:00 PM Interest Rate Decision 3.75% 3.75% 3.75% 3.75%
2016-05-05 06:00 PM Interest Rate Decison 3.75% 3.75% 3.75% 3.75%
2016-06-30 06:00 PM Interest Rate Decision 3.75% 3.75%
2016-07-14 02:00 PM Monetary Policy Meeting Minutes
2016-08-11 06:00 PM Interest Rate Decision 3.75%

Mexico Raises Key Rate to 3.75%


The central bank of Mexico hiked the overnight lending rate target by a half percentage point to 3.75 percent, during an unusual policy meeting held on February 17th. The bank also intervened directly in the forex market by selling USD as part of an aggressive new program in a major policy shift to support the peso, which plunged to fresh lows in recent weeks.

Extracts From Central Bank Statement

Since the last monetary policy meeting, the volatility in financial markets worldwide has increased and the external environment facing the Mexican economy continued to deteriorate. In this period, the price of oil has continued to fall, which has affected public finances and the current account, among other macroeconomic variables. This has had a negative impact on the peso, thereby increasing the likelihood that inflation expectations are not in line with the 3 percent target.

This action does not start a monetary tightening cycle. However, looking forward, the Board will closely monitor the evolution of all the determinants of inflation and inflation expectations for a medium- and long-term, especially in the exchange rate and its possible implications to consumer prices.

All members of the Governing Board voted in favor of the hike.

Anna | anna@tradingeconomics.com
2/17/2016 7:44:12 PM

Mexico Money Last Previous Highest Lowest Unit
Interest Rate 3.75 3.75 9.25 3.00 percent [+]
Interbank Rate 4.08 4.06 89.48 3.29 percent [+]
Money Supply M0 1223288.70 1200801.90 1241685.40 2741.00 MXN Million [+]
Money Supply M1 3320472350.00 3304441834.00 3351870757.00 3093600.00 MXN Thousand [+]
Money Supply M2 11597322204.00 11501765752.00 11597322204.00 15370409.00 MXN Thousand [+]
Money Supply M3 14007692464.00 13909203579.00 14007692464.00 15483730.00 MXN Thousand [+]
Foreign Exchange Reserves 182118.83 179708.00 199161.40 32970.50 USD Million [+]
Banks Balance Sheet 5101536.00 5066455.00 5101536.00 1171622.00 MXN Million [+]
Loans to Private Sector 1732928698.00 1728009811.00 1746446765.00 309796117.00 MXN Thousand [+]
Deposit Interest Rate 0.84 1.33 94.96 0.84 percent [+]
Central Bank Balance Sheet 3665194928.00 3570207233.00 3788490052.00 9740027.00 MXN Thousand [+]




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