Most members of the Bank of Mexico’s rate-setting body expressed concerns over inflationary pressures at their meeting on May 13, despite deciding to hold policy rates.

A majority of the five-member body stressed the economic environment required caution, the policy meeting minutes, published on May 27

“Members emphasised that in a highly uncertain environment such as the current one, a prudent approach is required,” the minutes say. “They highlighted that the recent shocks that have affected