Despite the external shocks and high levels of inflation in recent months, The Mexican financial sector is solid and resilientstated the Financial System Stability Council (CESF).
When releasing its last report of the year, the CESF said that the stability of the financial system is supported by the position of commercial banksas it has high levels of capital and liquidity to meet its obligations.
“In this session, the Council updated its risk balance and analyzed the challenges that the Mexican financial system faces in the current situation. “He concluded that it maintains a solid and resilient position,” the organization commented in a statement.
The CESF, made up of representatives of the Ministry of Finance, Bank of Mexico, the National Banking and Securities Commission, among others, recalled that the country’s economic activity continued to expand during the third quarter of the year.
The above, even in the face of a high interest rate or meteorological pressures such as the passage of Hurricane Otis in Guerrero, which is not expected to have a significant impact on the national financial sector.
He explained that in the long term, according to system participants, the greatest internal and external risk for the economy is an increase in prices of goods and services, as well as more liquidity or capital pressures on institutions.
At the end of the first fortnight of December, annual general inflation in Mexico rose to 4.46 percent, which accumulated three consecutive fortnights of increases, according to the National Institute of Statistics and Geography (INEGI).
Towards the end of 2023, analysts consulted by Citibanamex predict that inflation will climb to 4.44 percent, which will decrease to four percent by the end of 2024.