Private economists surveyed by Banxico have raised inflation forecasts and expect the USD/MXN to finish the year near 18.50, with interest rates holding steady at 6.50% through 2027.
Banxico's October private economists survey, released on 2026-11-03, shows analysts raising inflation expectations and seeing USD/MXN finishing the year near 18.50, while the title puts the peso near 18.40. That implies only a modest expected move and no actual policy change, so the near-term effect is limited.
It sees USD/MXN finishing the year near the psychological 18.50 mark, with the peso near 18.40 in the title.
The survey sees 6.50% rates through 2027, but it is a survey of private economists, not a policy decision.
The Bank of Mexico's October survey of private economists reveals a cautious outlook, with analysts revising inflation expectations upward. Market participants now anticipate the USD/MXN exchange rate will conclude the year near the 18.50 level, while interest rates are expected to remain anchored at 6.50% through 2027.
The survey indicates that private economists expect the USD/MXN exchange rate to finish the year near the 18.50 mark.
The survey reflects the consensus of private economists rather than an official policy decision by the Bank of Mexico, though it highlights expectations for rates to remain at 6.50% through 2027.