Bank of Mexico cuts interest rate to 6.25% in split vote

November 5, 2026. The Bank of Mexico’s governing board cut its overnight rate target by 25 basis points, from 6.50% to 6.25%, effective November 6. The vote was three to two: Galia Borja and Jonathan Heath preferred to hold the rate at 6.50%.

Why it matters

The benchmark influences borrowing costs and returns on savings. The bank described the cut as a one-time adjustment and said maintaining the resulting rate for a prolonged period would support inflation’s return to target.

Rockstar Briefing analysis

The split vote reflects different judgments about financing costs and persistent inflation risks. The decision does not guarantee a series of cuts or an immediate reduction in every rate paid by households and businesses; inflation and the exchange rate remain important factors.

Sources: Bank of Mexico monetary policy announcements and El Economista. Featured image: AI-generated illustration.