Americas

Bank of Mexico

Too few recent speeches for a current tone.

Speeches: 99
First speech: Apr 4, 2003
Latest speech: Oct 10, 2025
Tone vs coming rate moves: Not tested; too few speeches or no published rate

Does the tone run ahead of the rate?

Speech tone over the previous three months, and the policy rate at the end of each month, on the same timeline. Hover over either chart to read the same month in both.

Speech tone

Policy rate

Latest speeches

Each speech's tone is the average over its sentences about policy, prices, rates or the economy. Open a speech to read it in full.

Date	Speech	Tone
Oct 10, 2025	Galia Borja Gómez: Economic outlooks across emerging market economies Galia Borja Gómez	+0.04
Oct 8, 2025	Gabriel Cuadra: Monetary and exchange rate regimes in Mexico1925-2025 Gabriel Cuadra	−0.04
Feb 5, 2025	Victoria Rodríguez Ceja: Future challenges for monetary policy in the Americas Victoria Rodríguez Ceja	−0.06
Jan 27, 2023	Irene Espinosa Cantellano: Moving beyond climate - the relevance of biodiversity loss for the financial system Irene Espinosa Cantellano	+0.14
Sep 30, 2022	Gerardo Esquivel Hernández: Welcome remarks - inauguration of the 7th annual conference on international economics Gerardo Esquivel Hernández	−0.11
Sep 29, 2022	Irene Espinosa Cantellano: Moving beyond climate - the relevance of biodiversity loss for the financial system Irene Espinosa Cantellano	−0.23
Sep 20, 2022	Gerardo Esquivel Hernández: Opening remarks - 16th Annual Conference of the International Operational Risk Working Group Gerardo Esquivel Hernández	−0.02
Sep 7, 2022	Irene Espinosa Cantellano: Mexico - macroeconomic outlook and opportunities for the coming years Irene Espinosa Cantellano	+0.01
Oct 7, 2021	Alejandro Díaz de León: Introductory remarks on regulating big tech Alejandro Díaz de León	–
Jul 28, 2021	Alejandro Díaz de León: Emerging markets' long and slippery road to development and the challenges of the pandemic Alejandro Díaz de León	−0.13
Jul 23, 2021	Alejandro Díaz de León: Remarks - The next global financial cycle in a divergent global economy Alejandro Díaz de León	−0.16
Jul 14, 2021	Alejandro Díaz de León: Remarks - How can central bankers and supervisors support climate risks and green finance and manage risks? Alejandro Díaz de León	−0.12
Jul 1, 2021	Alejandro Díaz de León: Remarks at a panel discussion on monetary policy challenges for emerging markets Alejandro Díaz de León	−0.03
Jun 17, 2021	Alejandro Díaz de León: Introductory remarks Alejandro Díaz de León	−0.10
Jun 9, 2021	Alejandro Díaz de León: What is the true resilience of our financial systems to climate change with the buffers we currently have? Alejandro Díaz de León	+0.03
Mar 19, 2021	Alejandro Díaz de León: Pushing the frontiers of payments - towards faster, cheaper, more transparent and more inclusive cross-border payments Alejandro Díaz de León	−0.03
Oct 13, 2020	Javier Guzmán Calafell: Setting the scene - the international landscape and direction of the global economy Javier Guzmán Calafell	−0.53
Oct 19, 2019	Javier Guzmán Calafell: Developing sustainable capital markets - mapping the challenges and setting priorities Javier Guzmán Calafell	+0.13
Jul 9, 2019	Javier Guzmán Calafell: Some considerations on central bank digital currencies Javier Guzmán Calafell	−0.16
Jun 12, 2019	Javier Guzmán Calafell: Safeguarding central bank independence Javier Guzmán Calafell	−0.29
Apr 12, 2019	Javier Guzmán Calafell: The task for emerging markets Javier Guzmán Calafell	−0.23
Nov 24, 2018	Javier Guzmán Calafell: Policy dialogue - global finance exploration Javier Guzmán Calafell	−0.08
Oct 12, 2018	Javier Guzmán Calafell: Attacks of tariffs - what about currencies? Javier Guzmán Calafell	−0.28
Jul 9, 2018	Javier Guzmán Calafell: Monetary policy amidst Nafta negotiations and other sources of uncertainty Javier Guzmán Calafell	+0.08
Jun 26, 2018	Javier Guzmán Calafell: End of QE and rising interest rates - implications for advanced and emerging markets Javier Guzmán Calafell	+0.14
Feb 16, 2018	Javier Guzmán Calafell: Mexico's monetary policy and economic outlook Javier Guzmán Calafell	+0.03
Dec 2, 2017	Javier Guzmán Calafell: Reformulating monetary policy in emerging markets and the need for macroeconomic policy coordination Javier Guzmán Calafell	−0.06
Jul 25, 2017	Javier Guzmán Calafell: New challenges for central banks in Latin America Javier Guzmán Calafell	+0.05
Jul 24, 2017	Javier Guzmán Calafell: Emerging economies in a new global cycle - central bank perspectives Javier Guzmán Calafell	−0.22
Jun 20, 2017	Agustín Carstens: Policymaking - respecting the life-cycle of policies Agustín Carstens	−0.02
May 10, 2017	Javier Guzmán Calafell: The renminbi as a global reserve currency - a central bank perspective Javier Guzmán Calafell	−0.03
Apr 6, 2017	Javier Guzmán Calafell: Monetary policy amid volatile capital flows Javier Guzmán Calafell	−0.18
Apr 6, 2017	Agustín Carstens: US-Mexico trade relationship in the age of NAFTA Agustín Carstens	+0.09
Apr 4, 2017	Javier Guzmán Calafell: Emerging markets in an era of dollar appreciation and volatile capital flow Javier Guzmán Calafell	−0.23
Oct 21, 2016	Manuel Sánchez: The Mexican economy - a call for stronger fundamentals Manuel Sánchez	−0.05
Oct 11, 2016	Javier Guzmán Calafell: Monetary policy implementation in a complex environment Javier Guzmán Calafell	−0.04
Oct 6, 2016	Javier Guzmán Calafell: Navigating the multicurrency reserve environment Javier Guzmán Calafell	−0.06
Sep 15, 2016	Manuel Sánchez: The United States and Mexico - a lasting bond Manuel Sánchez	−0.05
Aug 5, 2016	Manuel Sánchez: Mexico - economic integration, challenges and outlook Manuel Sánchez	+0.05
Jul 6, 2016	Javier Guzmán Calafell: Uncertainties about the global financial safety net Javier Guzmán Calafell	−0.28
Jun 21, 2016	Manuel Sánchez: Mexico in an unfriendly world economy Manuel Sánchez	−0.04
Jun 7, 2016	Manuel Sánchez: The effects of monetary divergence Manuel Sánchez	−0.20
May 25, 2016	Javier Guzmán Calafell: A growth reset for emerging markets Javier Guzmán Calafell	−0.17
May 13, 2016	Manuel Sánchez: Monetary expansion - is the sky the limit? Manuel Sánchez	−0.18
Apr 19, 2016	Manuel Sánchez: Is Mexico different from other emerging economies? Manuel Sánchez	+0.01
Apr 9, 2016	Javier Guzmán Calafell: Global divergences - implications for Latin America Javier Guzmán Calafell	−0.18
Jan 11, 2016	Javier Guzmán Calafell: The Mexican economy in an adverse external environment - challenges and policy response Javier Guzmán Calafell	−0.07
Nov 12, 2015	Manuel Sánchez: The powers and limits of monetary policy Manuel Sánchez	−0.09
Oct 31, 2015	Javier Guzmán Calafell: Global economic governance - recent progress and remaining challenges Javier Guzmán Calafell	+0.12
Sep 10, 2015	Manuel Sánchez: Mexico and Texas - Ties and mutual benefits Manuel Sánchez	−0.04
Jun 16, 2015	Manuel Sánchez: Productivity, growth, and the law Manuel Sánchez	−0.06
Jun 16, 2015	Javier Guzmán Calafell: The normalization of monetary policy in the United States - challenges for emerging market economies Javier Guzmán Calafell	−0.10
May 13, 2015	Manuel Sánchez: Emerging markets and the world's unusual monetary conditions Manuel Sánchez	−0.18
Apr 21, 2015	Manuel Sánchez: Understanding macroprudential instruments and their impact Manuel Sánchez	−0.03
Apr 20, 2015	Agustín Carstens: Challenges for emerging economies in the face of unconventional monetary policies in advanced economies Agustín Carstens	−0.11
Apr 17, 2015	Javier Guzmán Calafell: Groundbreaking shifts in the international financial system Javier Guzmán Calafell	+0.04
Mar 28, 2015	Manuel Sánchez: Mexico's reforms progress and economic outlook Manuel Sánchez	−0.23
Feb 17, 2015	Agustín Carstens: Award of the Order of the Aztec Eagle to Richard W Fisher Agustín Carstens	+0.11
Jan 22, 2015	Manuel Sánchez: Expectations for the Mexican economy Manuel Sánchez	−0.09
Dec 5, 2014	Manuel Sánchez: The changing tide of financial markets Manuel Sánchez	−0.03

Next: Across all central banksHow tone lines up with rate moves at every bank tested, and whether it predicts them.