The Bank of Mexico has decided to lower the interbank interest rate to 9.50%, which could have various effects on the country's financial market. This measure may make loans more accessible for consumers looking to finance purchases or long-term investments.
Credit card interest rates could also decrease in response to this drop, which could partially offset the effects of inflation and make it easier for consumers to access credit more economically. However, for those who rely on the returns from bank deposits or savings instruments, the reduction in the interest rate could imply lower returns, discouraging saving.
Banks and other financial institutions often adjust the interest rates they charge consumers based on the interbank rate, which could translate into an increase in credit available to consumers and businesses, encouraging spending on consumption and investments. Although inflation remains a concern, it is expected that the rate will approach the target of 3% in the coming years, which could affect consumers' purchasing power.
Credit cards, due to credit risk and lack of collateral, tend to have higher rates, so the benefits of the reduction in the interbank rate may not be as significant as in other types of credit. Nonetheless, it is possible that personal, mortgage, and auto loans may experience a slight decrease in interest rates, easing the burden of payments for those with outstanding balances on their cards.
In summary, with lower rates, financial entities may be more willing to grant credits, as financing costs become more attractive. This would stimulate consumption and investment, although consumers should continue to consider the impact of inflation on their financial decisions.
