BIS central bankers’ speeches  1  Growth and financial developments Let me move on to the second part of this talk, which covers shorter-term developments. On a year–on-year basis, since 2014 Mexico’s GDP has grown at an average rate of 2.3 percent, not far from the historical performance, with a dip occurring in the second quarter this year.
3 As for household debt, we see that household debt-to-income ratios have steadily declined post-crisis. Moreover, a high and rising fraction of this debt is rated prime. All told, household debt burdens appear much more manageable. Our second factor—valuation pressures—also points to moderate risks to financial stability. Valuations are high across several financial markets.