The central bank's movement occurred on the same day that the National Institute of Statistics and Geography (Inegi) of Mexico released inflation data for April.

The central bank of Mexico decided this Thursday to maintain interest rates at 11%, after having started the process of cuts in the previous meeting in March, when it reduced the figure by 25 basis points to the current level.

The central bank's movement occurred on the same day that the National Institute of Statistics and Geography (Inegi) of Mexico released inflation data for April.

In year-on-year terms, this has risen to 4.65%, two tenths more than in March, while it has fallen to 0.2% monthly, compared to 0.29% the previous month.

The entity has reiterated that it expects the disinflationary process to continue, although general and underlying inflation expectations for the end of 2024 showed an upward adjustment.

For this reason, and given the persistence of challenges and risks that warrant continuing with prudent management of monetary policy, the bank's board has chosen to freeze interest rates.

In addition, the expectation that the effects of the shocks will affect inflation for longer than previously anticipated has prevailed in their decision. Thus, this "restrictive" monetary position has been chosen again.

Going forward, the entity has explained that it will assess the inflation outlook to discuss adjustments to the rate. "The Central Bank of Mexico reaffirms its commitment to its priority mandate and the need to persevere in its efforts to consolidate an environment of low and stable inflation," he said.