Banks › Bank of Mexico › History › 7 May 2026
Bank of Mexico: decision of 7 May 2026
Banco de México's Governing Board lowered the target for the overnight interbank interest rate by 25 basis points to 6.50%, effective May 8, 2026, concluding the easing cycle that began in March 2024.
Decision
cut
- Rate
- 6.75%↓6.50%
- 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
- 7 May 2026
- Data
- JSON
What the bank said
The Board said it made a final cut to conclude the cycle, citing the exchange rate, weak economic activity with no demand-related pressures, and the level of monetary restriction implemented.
It said economic activity contracted in the first quarter of 2026 and economic slack was expected to be greater than previously anticipated.
It said headline inflation fell from 4.63% to 4.45% between the first fortnight of March and April as core inflation declined to 4.26%.
Guidance. The Board said it expected it would be appropriate to keep the reference rate at its current level.
“the Governing Board estimates that it will be appropriate to maintain the reference rate at its current level”
Dissent
Galia Borja and Jonathan Heath voted to keep the target at 6.75%.
Before and after
- Previous decision: 26 Mar 2026, cut the target for the overnight interbank interest rate by 25 bp to 6.75%.
- Next decision: 25 Jun 2026, held the target for the overnight interbank interest rate at 6.50%.
- All Bank of Mexico decisions and the rate history