May 17, 2019 |
Mexico's central bank kept its benchmark interest rates at 8.25% on Thursday, but warned that wage increases could affect inflation and employment rates.
In some sectors, rising wages have already outpaced productivity gains and could lead to higher prices, "thus affecting formal employment and contributing to keep core inflation at high levels," Banco de México, or Banxico, said in a press release.
Not long after President Andrés Manuel López Obrador took office in December last year, the gov
Banxico keeps the benchmark at 8.25% but warns that wage increases could lead to higher inflation