Mexico Banxico Overnight Interest Rate (Mexico) - Historical Data
Historical time series of the Mexico Banxico Overnight Interest Rate set by the Bank of Mexico (BANXICO) from 1998 to 2026. From 21 Jan 2008 onwards: Central Bank target, money-market overnight rate; from 3 Nov 1998 to 20 Jan 2008: bank funding rate. The latest benchmark reading is 6.50% (Sep 2026), corresponding to an ex-post real policy rate of +3.24% after adjusting for Mexico headline CPI inflation (3.26%).
Current Statistics & Historical Records
Peak monetary tightening by Bank of Mexico (Mexico Banxico Overnight Interest Rate).
Lowest policy interest rate stance set by Bank of Mexico.
29 annual observations · Monthly
Mexico Banxico Overnight Interest Rate (Mexico) (1998-2026)
% p.a.Drag to pan, scroll to zoom, or toggle between full archive (1998–2026) and recent monthly observations.
BANXICO Policy Rate Averages by Decade
Decadal mean, peak, and trough across the 1998–2026 archive
| Decade | Years Covered | Decade Mean | Decade High (Year) | Decade Low (Year) |
|---|---|---|---|---|
| 1990s | 1998–1999 | 25.77% | 33.14% (1998) | 18.39% (1999) |
| 2000s | 2000–2009 | 8.56% | 18.79% (2000) | 4.50% (2009) |
| 2010s | 2010–2019 | 5.17% | 8.25% (2018) | 3.00% (2014) |
| 2020s | 2020–2026 | 7.86% | 11.25% (2023) | 4.25% (2020) |
Complete Annual Historical Ledger (1998–2026)
Unit: % p.a. · Source: Bank for International Settlements (BIS) & Bank of Mexico (WS_CBPOL:M:MX)
| Year | Annual Value (% p.a.) | Real Policy Rate (CPI-Adj) | Intra-Year Range (Min – Max) | Monetary Regime & Historical Context |
|---|---|---|---|---|
| 2026 | 6.50% | +2.68% | 6.50% – 7.00% | - |
| 2025 | 7.00% | +3.19% | 7.00% – 10.00% | Post-tightening monetary recalibration across advanced and emerging central banks |
| 2024 | 10.00% | +5.28% | 10.00% – 11.25% | G10 policy rates peak and pivot toward gradual monetary normalization |
| 2023 | 11.25% | +5.70% | 10.50% – 11.25% | - |
| 2022 | 10.50% | +2.61% | 5.50% – 10.50% | Global inflation surge triggers fastest synchronized rate hiking cycle in four decades |
| 2021 | 5.50% | -0.18% | 4.00% – 5.50% | - |
| 2020 | 4.25% | +0.85% | 4.25% – 7.25% | COVID-19 pandemic emergency rate cuts and record balance sheet expansion |
| 2019 | 7.25% | +3.61% | 7.25% – 8.25% | - |
| 2018 | 8.25% | +3.35% | 7.25% – 8.25% | - |
| 2017 | 7.25% | +1.21% | 5.75% – 7.25% | - |
| 2016 | 5.75% | +2.93% | 3.25% – 5.75% | Bank of Japan introduces Yield Curve Control (YCC); post-Brexit BoE easing |
| 2015 | 3.25% | +0.53% | 3.00% – 3.25% | - |
| 2014 | 3.00% | -1.02% | 3.00% – 3.50% | ECB and European peers introduce Negative Interest Rate Policy (NIRP) |
| 2013 | 3.50% | -0.31% | 3.50% – 4.50% | - |
| 2012 | 4.50% | +0.39% | 4.50% – 4.50% | - |
| 2011 | 4.50% | +1.09% | 4.50% – 4.50% | European Sovereign Debt Crisis and Swiss franc safe-haven surge |
| 2010 | 4.50% | +0.34% | 4.50% – 4.50% | - |
| 2009 | 4.50% | -0.81% | 4.50% – 7.75% | - |
| 2008 | 8.25% | +3.13% | 7.50% – 8.25% | Global Financial Crisis drives major central banks to the zero lower bound and QE1 |
| 2007 | 7.57% | +3.60% | 7.02% – 7.57% | - |
| 2006 | 7.02% | +3.39% | 7.02% – 7.77% | - |
| 2005 | 8.27% | +4.27% | 8.27% – 9.76% | - |
| 2004 | 8.75% | +4.07% | 5.20% – 8.75% | - |
| 2003 | 6.12% | +1.56% | 4.07% – 9.27% | - |
| 2002 | 8.25% | +3.22% | 5.37% – 8.25% | - |
| 2001 | 8.04% | +1.65% | 7.24% – 17.72% | Dot-com bust and synchronized G10 monetary easing cycle |
| 2000 | 18.79% | +9.28% | 13.75% – 19.25% | - |
| 1999 | 18.39% | +1.72% | 17.78% – 35.85% | Launch of the Euro and establishment of the European Central Bank (ECB) |
| 1998 | 33.14% | +17.24% | 33.14% – 34.37% | - |
Frequently Asked Questions - BANXICO Policy Rate
What is the current Mexico Banxico Overnight Interest Rate?
As of Sep 2026, the Mexico Banxico Overnight Interest Rate is 6.50% per annum. Adjusted for headline inflation (3.26%), the ex-post real policy rate in Mexico stands at +3.24%.
What was the highest and lowest Bank of Mexico interest rate on record?
Across the 1998-2026 archive, the Mexico Banxico Overnight Interest Rate reached a record high of 35.85% in Jan 1999 and a record low of 3.00% in Jun 2014. The long-run annual mean is 8.41%.
What is the Bank of Mexico inflation target?
The Bank of Mexico operates with an official inflation target of 3.0% (±1.0% Variability Interval). Its statutory mandate is: Preserve the purchasing power of the national currency.
Source Metadata & Methodology Notes
- Primary Institution:
- Bank for International Settlements (BIS) & Bank of Mexico
- Dataset / Dataflow:
- BIS Central Bank Policy Rates (WS_CBPOL)
- Canonical Series ID:
- WS_CBPOL:M:MX
- Reuse & License:
- Terms of permitted use of BIS statistics
- Primary compilation: From 21 Jan 2008 onwards: Central Bank target, money-market overnight rate; from 3 Nov 1998 to 20 Jan 2008: bank funding rate.
- Reporting agency: Bank of Mexico; harmonized and disseminated via the BIS WS_CBPOL statistical dataflow.
- Annual table values represent the year-end (December or latest available month) policy rate reading; minimum and maximum columns record the intra-year policy rate corridor.
- Ex-Post Real Policy Rate series is computed as Nominal Policy Rate (% p.a.) minus contemporaneous year-on-year Headline CPI Inflation (% from BIS WS_LONG_CPI).
Cite This Dataset (APA & BibTeX)
@misc{cbd_cbpol_mexico,
author = {CentralBankData.com},
title = {Mexico Banxico Overnight Interest Rate (Mexico)},
note = {Compiled from Bank for International Settlements WS_CBPOL:M:MX},
year = {2026},
url = {https://centralbankdata.com/mexico-banxico-interest-rate}
}