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”

Bank of Mexico, statement of 7 May 2026

Dissent

Galia Borja and Jonathan Heath voted to keep the target at 6.75%.

Summarised by Macro Index from banxico.org.mx/publications-and-press/announ… on 10 Oct 2026. The bank's own statement is the authority; this page paraphrases it.

Before and after

Macro Index records decisions as each central bank publishes them and makes no forecasts. Spotted an error? Report it.