Banks › Bank of Mexico › History › 26 Mar 2026
Bank of Mexico: decision of 26 March 2026
Banco de México's Governing Board lowered the target for the overnight interbank interest rate by 25 basis points to 6.75%, effective March 27, 2026.
Decision
cut
- Rate
- 7.00%↓6.75%
- Change
- −25 bp
- Vote
- 3–2
- Announced
- 13:00 Mexico City time
Sources
- Statement
- banxico.org.mx/publications-and-press/announ…
- Minutes
- banxico.org.mx/publications-and-press/minute…
- Recorded
- 26 Mar 2026
- Data
- JSON
What the bank said
The Board said it continued the rate-cutting cycle taking into account the exchange rate, the weakness of economic activity and the level of monetary restriction already implemented.
It said headline inflation rose from 3.77% to 4.63% between the first fortnights of January and March because of its non-core component, while core inflation was practically unchanged at 4.46%.
It judged that the monetary policy stance attained was adequate to face the challenges of an extension and escalation of the Middle Eastern conflict.
Guidance. The Board said it would evaluate the appropriateness and timing of an additional rate cut depending on macroeconomic and financial conditions.
“the Board will evaluate the appropriateness and timing for an additional reference rate cut”
Dissent
Galia Borja and Jonathan Heath voted to keep the target at 7.00%.
Before and after
- Previous decision: 5 Feb 2026, held the target for the overnight interbank interest rate at 7.00%.
- Next decision: 7 May 2026, cut the target for the overnight interbank interest rate by 25 bp to 6.50%.
- All Bank of Mexico decisions and the rate history