Mexiko Zinssatz

The Bank of Mexico lowered its benchmark interest rate by 25 basis points to 11.00% during its March 2024 meeting, aligning with expectations and marking the first rate cut after seven consecutive pauses. The governing council noted expectations for increased economic activity in Q1 2024, supported by a robust labor market. Despite a temporary uptick in inflation at the end of 2023 and early 2024, annual inflation decreased to 4.40% in February 2024, mainly due to non-core component reversals, while core inflation continued its downward trend. Inflation forecasts for 2024 and 2025 were slightly revised downward, although long-term expectations remain above the target. Despite these challenges, the Board maintains a restrictive monetary stance to support inflation convergence to the 3% target. Future decisions will hinge on available information, inflation trends, and the impact of current monetary policy on inflation dynamics.