The Mexican financial system faces challenges in an uncertain and changing international context, but it currently maintains a solid and resilient position. The Bank of Mexico (Banxico) warned about this on Wednesday. Governor Victoria Rodríguez explained that among the main external risks are a possible worsening of geopolitical and trade tensions, as well as potential «surprises» in the evolution of global financial conditions. Rodríguez added that there are also threats linked to unexpected adjustments to the credit ratings of major national issuers and the possibility of a systemic event affecting the international financial system. «It is important to note that these risks are incorporated into the design of the scenarios for credit stress tests,» she specified during a virtual press conference. In terms of cybersecurity, the official warned that cyber threats continue to be one of the main challenges for the stability of the financial system due to the increase in the frequency, impact, and sophistication of cyberattacks. Although she acknowledged progress in the disinflation process, she clarified that challenges remain in bringing the price index to the target level of 3%. Since August 2024, Banxico has started a cycle of reducing the key interest rate in a scenario marked by the deceleration of the economy and inflation in the country. In this context, she warned about a significant increase in attacks on the supply chains of technology services globally. Likewise, she pointed out that the uncontrolled use of Artificial Intelligence (AI) tools within organizations could generate new cyber vulnerabilities and favor information leakage.
