3 However, in 2009 when it was clear that those pressures had ceased to threaten price stability, the Bank of Mexico relaxed its monetary policy. Specifically, from January to July of that year the overnight policy interest rate was cut 375 basis points in all, and since then the reference policy rate has been kept at 4.5 percent.
For example, rather than being entirely reliant on a single community or industry, such as real estate, a stronger system was being created because banks were serving a broader nationwide base. A downturn in a single market would be offset by stability in other areas.