Citi has forecast Banco de la República will raise policy interest rates by 25 basis points to 12.50% by the end of 2026.

A separate Citi analyst survey published 20 October found 25 of 36 polled analysts expect Banco de México will hold interest rates unchanged through 2027.

Members of Banco de México's Governing Board have stated there is theoretical space to lower that central bank's benchmark interest rate.