[REVISION HISTORY]

Banxico Holds Rate; Inflation Near Target

Updated 6 times since CLSTR started tracking revisions of this situation.

What changed

2026-08-07 23:06 UTC → 2026-08-08 02:14 UTC · added ~~removed~~

Banxico kept its benchmark policy rate at 6.5% on 7 August 2026, extending the pause that began in June as inflation continued to ease. July CPI data from INEGI showed annual inflation at 3.12%, the lowest since May 2020, with core inflation at 3.95% year‑on‑year and the ~~non‑core~~ monthly index ~~down 0.67% month‑on‑month.~~ rising only 0.03%. President Claudia Sheinbaum credited the decline to the “Paquete Contra la Inflación y la Carestía” (PACIC), which caps a basket of 24 basic goods at 913 pesos per week and imposes price caps on gasoline (24 pesos per litre) and diesel (27 pesos per ~~litre), warning~~ litre). She warned that without these measures inflation could roughly double. The data lifted market sentiment: the peso ~~appreciated~~ strengthened to about ~~0.58% against the~~ 17.13 per U.S. ~~dollar.~~ dollar, its strongest in four months, and analysts see the slowdown as supporting Banxico’s pause and possibly paving the way for future rate cuts. Banxico reiterated its commitment to low, stable inflation and signaled the rate will likely stay at 6.5% through the rest of 2026, while noting heightened external risks from geopolitical tensions and the U.S. Federal Reserve’s stance.

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