Publications

The 2027 Preliminary General Economic Policy Guidelines maintain a responsible fiscal stance, but they rely on more optimistic assumptions than the market, which increases the risk of failing to meet fiscal targets.

In 2025, there were 160,000 deportations of Mexican migrants, a figure 22.3% lower than the 206,000 events recorded in 2024, and 25.4% below the 215,000 deportations in 2023. Remittances to Mexico posted a slight increase in February, edging up 0.4% to reach 4,468 million.

Looking ahead, we think the timing of the final rate cut will depend on external conditions. Under our baseline of a short-lived conflict, and with Banxico’s test for second-round effects from this year’s fiscal changes now met, most Board members may prefer to wrap up the easing cycle and deliver a final 25bp cut in May.

This Agenda presents the 2026 dissemination schedule for economic indicators and relevant monetary policy events in Mexico and the US; dates of important events such as the meetings of various relevant international entities such as: World Economic Forum, World Bank and the IMF

Current loans growth to non-financial private sector in January 2026 reached the lowest point since 2021 (1.8% in real anual terms), as the business loan portfolio had a negative growth contribution. Banking deposits real anual growth came at 0.9% influenced by exchange rate appreciation.

The BBVA Research Big Data Consumption Indicator reported a (-)3.5% MoM decline in February (real, sa), with contractions in both goods and services segments.

The impacts of climate change on people are not uniform across the population. Gaps in access to income, assets, and decision-making power mean that the effects of climate change can amplify existing structural inequalities, including those related to gender.