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Banxico lowers policy rate despite war-linked inflation risks
- Banxico decided to continue lowering the policy interest rate based on the current inflation outlook.
- The bank believes the current monetary stance is suitable to address challenges from a prolonged and escalated Middle East conflict and its effects.
- The policy rate cut was made despite rising inflation and geopolitical risks.
- Banxico expects to reduce the rate one last time in May, ending the cycle at 6.5%.
35 Articles
35 Articles
Economic and financial analysts considered that Banxico's decision to cut interest rates from 7% to 6.75% is out of the picture.
Contrary to what was expected by the market, the government board of the Banco de México (BdeM) reduced the interest rate by a quarter point from 7 to 6.75 percent. The decision was divided.
Bucking expectations, central bank cuts interest rate despite inflationary pressures
The Bank of Mexico (Banxico) board has voted to cut the central bank’s benchmark interest rate just two days after data showed that the annual inflation rate rose to 4.63% in the first half of March. The 25-basis-point cut will take effect on Friday, reducing Banxico’s key rate to 6.75%. Three of five board members including Banxico Governor Victoria Rodríguez voted in favor of reducing the rate to 6.75% while the other two supported maintaining…
Mexico City, Mexico. Banco de México (Banxico) unexpectedly reduced its reference rate on Thursday in the midst of the weakness that the local economy shows and despite the uncertainty that the conflict in the Middle East poses for inflation, the institution reported in a statement.The monetary authority cut the rate at 25 base points, to leave it at 6,75%, a movement that contrasted with the expectation of analysts of a cut in May, according to…
Against market forecasts, the Bank of Mexico has decided to cut the interest rate by 25 points and put it at 6.75 per cent. “The Governing Board judged it appropriate on this occasion to continue with the cycle of declines in the reference rate. This is consistent with the assessment of the current inflationary scenario. It also judged that the monetary stance reached would be appropriate to face the challenges arising from an extension and esca…
The Mexican peso recorded a maximum in the session of 17.95 units, after being pressured after the Bank of Mexico (Banxico) chose to cut its reference interest rate by 25 basis points this Thursday. According to Banxico's figures, the exchange rate was set at 17.95 pesos per dollar, a level under which it recorded a depreciation of 1.04 percent or 18.55 cents, with respect to its closure yesterday. “For the next few days, I hope that the Mexican…
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