Far from representing an obstacle to its implementation, the health of our financial system has proven to be a most valuable asset for Mexico’s monetary policy, as it has allowed an efficient operation of transmission mechanisms, and a sharp increase in interest rates without significant adverse side effects on banks or other financial institutions. 4.
Structural reform policies spanning through a wide array of sectors have made important strides over the last few years. Although it may still be too early to draw conclusive assessments of the efforts undertaken, as most of these changes are still in their implementation phase, a number of positive results are already evident.