“The banks have made a great effort to maintain rates and therefore what we have observed are very marginal growths that do not reflect the same growth of the rate of the Bank of Mexico,” said Daniel Becker, president of the ABM, in a conference .
The banker said that some borrowers have contracted their credits at a fixed rate, so they will not suffer any affectation.
Despite the fact that the interests of the credits are increasing, the bank trusts that the competition within the system will be able to cause a dynamism in the demand.
In addition, Becker said he was confident that a greater dynamism in the economy will also cause a greater increase in the demand for credits.
Recently, the former president of Inegi, Julio Santaella, explained that a higher reference interest rate from the central bank causes not only a decrease in the demand for credit, but also in supply: “A higher interest rate implies a greater risk of recovery of portfolio, so the financial intermediaries choose to ration it”.
In spite of the good wishes of the banker, the figures in the placement of credit indicate something else: financing to the private sector, to companies and consumption present negative growth while mortgage credit presents an increase of 9.1%.
Analysts estimate that in the face of an inflationary rebound, the central bank would be forced to take its main monetary policy instrument to maximum levels of 9% from the current 7%.
“Inflation is not out of control and it is important for people to be clear about it,” said the deputy governor of Banxico, Gerardo Esquivel.