The Bank of Mexico’s May 7 decision to cut its benchmark rate by 25 basis points to 6.50% in a split vote has anchored strong trader consensus for no change at the June meeting. Officials explicitly signaled the end of the two-year easing cycle after fourteen consecutive reductions, citing a benign inflation trajectory and the need to assess the impact of prior policy moves on price stability. With the overnight interbank rate now at its lowest level since 2022, market-implied odds reflect expectations that the central bank will maintain its current stance absent fresh data surprises. A sharper-than-anticipated rise in core inflation or a deterioration in labor market conditions could reopen the door to further adjustments, though both appear unlikely before the next scheduled announcement.