Banxico starts 2024 without changing its interest rate at 11.25% Grupo Milenio

Banxico starts 2024 without changing its interest rate at 11.25% Grupo Milenio

Government unit of the Bank of Mexico (Banxico) left it reference interest rate In 11.25 percent During its first monetary policy meeting of 2024, as analysts expected and following in the footsteps of the Federal Reserve usa,

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What is the interest rate?

The interest rate is the amount of money that usually represents a percentage of the credit or loan required and that the debtor must pay to the lender. in simple terms; This is the cost of using money. Source: (Banxico)

“With all its members present, the Board of Governors of the Bank of Mexico unanimously decided to maintain the 1-day interbank interest rate at the level of 11.25 percent,” he said.

According to the monetary policy announcement of the central bank, The possibility of adjusting the reference rate on the basis of available information will be evaluated at the next meetings.,

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Therefore, members of governing board They will remain attentive to inflationary pressures as well as all the factors that influence the expected path of inflation and their expectations.

“The inflation outlook will take into account progress and the challenges that still remain,” he highlighted.

Similarly, he said that the stance adopted on monetary policy Banxico Describing it as restrictive, in line with the development of Inflation, which stood at 4.88 percent last January.

Therefore, future decisions “will be such that the reference rate, at all times, is consistent with the trajectory necessary to promote orderly and sustained convergence.” on general inflation 3 percent target on time” He warned.

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