Banxico Overnight Interbank Target Rate - Mexico Mexican Central Bank interest rate
This page shows the current and historic values of the Overnight Interbank Target Rate as set by the Mexican Central Bank (Banxico). The Overnight Interbank Target Rate is often regarded as the most important interest rate of the Banxico.
|
Date
|
Rate
|
|---|---|
|
03-21-2024
|
11.00 %
|
|
03-30-2023
|
11.25 %
|
|
02-09-2023
|
11.00 %
|
|
12-15-2022
|
10.50 %
|
|
11-10-2022
|
10.00 %
|
|
09-29-2022
|
9.25 %
|
|
08-11-2022
|
8.50 %
|
|
06-23-2022
|
7.75 %
|
|
05-12-2022
|
7.00 %
|
|
03-24-2022
|
6.50 %
|
Chart Banxico overnight target rate
Historical interest ratesOur content is based on reliable sources. However, we do not accept liability for any errors. The content of this website is for informational purposes only and is not intended as financial advice. Decisions you make based on the information we display are always at your own expense and risk.
Banco de Mexico (Banxico)
Banco de Mexico (Banxico) is the central bank of Mexico. The most important tasks of Banxico are to maintain the purchasing power - a low and stable inflation - and to provide currency to the local economy.
View the current and historical inflation in Mexico
Other tasks of the central bank of Mexico are developing the financial system and making sure that the payment system is functioning optimally. Banco the Mexico is steering the level of interest rates and inflation with the help of monetary policy. The system is similar to the system of the Federal Reserve Bank of the United States of America.
Overnight Interbank Target Rate
When reference is made to the Mexican interest rate this often refers to the Overnight Interbank Target Rate. This base rate is also called overnight interest rate or tasa de fondeo bancario. The level of the Overnight Interbank Target Rate is determined by the board of governors during their monthly meeting.
The level of the Overnight Interbank Target Rate is an objective for the overnight interbank funding rate. This is the rate that Banxico pursues for interbank loans with a maturity of one day. The level of this rate is affecting the interest rates on consumer products like mortgages, savings accounts and loans. A change in the Overnight Interbank Target Rate will often also affect the exchange rate of the Mexican Peso.