Key facts
- Deputy Governor Jonathan Heath said the Bank of Mexico's rate cut sows confusion and sends the wrong message.
- Heath said the inflation outlook remains skewed to the upside and the US Federal Reserve seems primed to keep hiking.
- Heath voted last week to keep the benchmark rate unchanged; the board voted 3-2 to cut by 25 basis points to 6.25%.
- Heath's eight-year term on the central bank's board ends in December.
Bank of Mexico Deputy Governor Jonathan Heath said on November 12, 2026 that the central bank's recent interest rate cut sows confusion and sends the wrong message, arguing the inflation outlook remains skewed to the upside and the US Federal Reserve seems primed to keep hiking its key rate.
Heath, whose eight-year term on the central bank's board ends in December, voted last week to keep the benchmark rate unchanged. The five-member board at Banxico, as the bank is known, ultimately voted 3-2 to cut rates by 25 basis points to 6.25%.