Mexico | Monthly report on Banking and the Financial System. November 2022.

The momentum of the credit to the private sector lingered in October underpinned by the highest monthly growth of the credit card balance since 2013. The composition of bank deposits is leaning towards term deposits as interest rates remain high and economic activity has surprised to the upside recentley.

Key points

• Key points:
• Total financing in Mexico fell 2.9% YoY in real terms, while total financial savings fell by 2.7% YoY in real terms during the 2Q22.
• Multiple banking remains as the main driver of Financial Inclusion.
• Did markets overreact to the US inflation print in October?

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