Written in ECONOMY the 24/6/2022 · 16:46 hs
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The Bank of Mexico struck a blow against inflation by increasing its interest rate by 75 basis points to 7.75 percent, but specialists warn that this increase makes credit more expensive, so the impact will be reflected in consumption through the Credit cards or departmental, mainly those with a variable rate.
The president of the Mexican Institute of Finance Executives, Alejandro Hernández Bringas, stated that banking clients will be more cautious when using or requesting a loan due to the increase in interest rate.
However, in the case of those loans or credits established “fixed rate” for the purchase of a home, car, payroll loan, among others, will not be affected by this increase in the interest rate.
Although the president of the IMEF foresees that the financing mechanisms will decrease in companies, which will have repercussions on the investment of new projects.
For his part, the president of the Association of Banks of Mexico, Daniel Becker, recognized that the increase in the interest rate to 7.75 percent will have a forward effect in the pace of credit; although he affirmed that for now consumer credit continues with positive numbers and the overdue portfolio reporting a manageable behavior.
However, analysts warn that this decision “necessary to curb inflation” It will also affect the country’s growth, since the greater the increase in the interest rate, the greater the impact on economic growth.
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