Slowing of Growth in Bank Credit

MEXICO - Report 25 Mar 2014 by Mauricio Gonzalez and Ernesto Cervera
Executive Summary Bank lending to the private sector slowed during the second half of 2013 and early 2014 at least partially in response to a less dynamic internal market and consumer pessimism regarding the economy. As of January 2014, consumer credit was growing at its slowest pace since 2010. In 2013 and the first month of 2014 growth slowed in both the main components of consumer credit: credit cards and credit for purchases of durable goods.Banco de México (Banxico) conducted its regularly scheduled review of monetary policy late last week at which it decided to leave its reference int...

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