Mexican Financial System Stable But Global Risks Weigh -Central Bank

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Mexico's financial system is resilient and solid despite international economic and geopolitical volatility, the central bank chief said on Wednesday during the introduction of the monetary authority's financial stability report, Reuters reported. "The Mexican financial system maintains a solid and resilient position," the central bank said in its biannual stability report, stressing that the country meets minimum capitalization levels. Earlier on Wednesday, the U.S. Federal Reserve raised its benchmark interest rate by three-quarters of a percentage point in a bid to stem stubbornly high inflation as well as a projected economic slowdown and rising unemployment for Mexico's top trading partner. Mexico's central bank governor, Victoria Rodriguez, said the bank would analyze the Fed decision and take it into account, along with other factors, before it votes later this month on whether or not to hike interest rates. One central bank deputy governor, Jonathan Heath, has said a 75-basis-point hike is likely. Read more.