No Change in Mexican Monetary Policy Interest Rate

May 29, 2011

The key Mexican interbank interest rate was left at 4.5% by Bank of Mexico policymakers, who met on Friday.  This rate was cut several times by 375 basis points in all during 2009 but has been at 4.5% since the last of those reductions in July of that year.  A statement on the Bank of […] More

Bank of Mexico Policy Rate Unchanged

November 26, 2010

The overnight interbank funding rate will remain at 4.5%, the level since July 2009.  Rate cuts totaling 375 basis points were implemented in each of the first seven months of last year.  A new statement released today was less dovish than the one following the policy meeting in mid-October, noting that the output gap has […] More

Mexican Monetary Policy Not Changed

October 15, 2010

The Bank of Mexico, as predicted, made no change in its overnight interbank funding rate, which has been at 4.5% since 375 basis points of reduction implemented during the first seven months of 2009.  A statement from officials is fairly dovish in tone, observing that inflation has been under target for two quarters reflecting peso […] More

Bank of Mexico Overnight Rate Left at 4.5%

September 24, 2010

Mexico’s benchmark interest rate will remain at 4.5%, which it has been since July 2009.  The decision not to raise the rate from its nearly 7-year low had been expected by analysts and was defended in a released statement by the following points: CPI inflation of 3.7% has been running below expectations. Projected growth in […] More

Mexican and Colombian Key Interest Rates Unchanged After August 20th Policy Meetings

August 24, 2010

Mexico’s overnight central bank interest rate was held at 4.5%, the setting since July 2009, as was expected.  GDP advanced 7.6% in the year to 2Q10, while CPI inflation had an on-year 3.6% rate of increase in July.  A statement from the central bank promised to watch measures of expected inflation and the output gap. […] More

Mexico and Chile Monetary Policy Reviews

July 17, 2010

The Mexican overnight interbank funding rate, 4.5% since July 2009, was left unchanged as expected on Friday.  The rate was reduced in total by 375 basis points last year.  The Mexican economy is recovering, but on-year first-quarter growth of 4.3% was just half as much as in Brazil and five-eighths as much as in Argentina.  […] More

Mexican Monetary Policy Stays on Hold as Expected

May 21, 2010

The Bank of Mexico retained a 4.5% benchmark interest rates, which represents a 6-1/2 year low.  The rate was cut in seven steps from 8.25% at the start of 2009 to its present level by last July.  Mexico is again achieving positive economic growth, but such is being powered almost entirely by net foreign demand […] More

Mexican Monetary Policy On Hold Since July 2009

April 16, 2010

Bank of Mexico officials, who previously cut their benchmark interest rate in seven consecutive steps from 8.25% at end-2008 to 4.5% after last July’s meeting, left their accommodative policy on hold at that level as analysts had expected.  A released statement, whose English translation can be read by clicking here, observed that CPI inflation averaged […] More

Bank of Mexico Leaves Policy Rate at 4.5%

March 20, 2010

Mexico’s key central bank interest rates has been at 4.5% for the past eight months after cuts last year from a peak of 8.75% of 50 basis points in January, 25 bps in February, 75 bps each in March, April and May, 50 bps in June and 25 bps in July.  The rate will remain […] More

Key Mexican Interest Rate Left at 4.5% as Anticipated

February 19, 2010

The Bank of Mexico’s key interbank interest rate has been 4.5% since last July 17th and will remain there at least another month in spite of a jump in CPI inflation last month to 4.5% and related to some tax increases.  A statement released by bank officials saw no evidence yet of second-order inflationary effects […] More