Banxico Moves Key Policy Meetings to Avoid Banking Event Clash

Mexico’s central bank brought forward two key monetary policy meetings this week as they clashed with the country’s annual banking conference in Acapulco, adding a wrinkle to the process of setting interest rates to rein in the fastest inflation in two decades.

The bank, known as Banxico, moved the meeting in which its five-member board decides on the key interest rate to Wednesday afternoon from the evening of the same day, according to people familiar with the matter who asked to speak anonymously while discussing private information. It also changed the meeting to agree on the statement that accompanies its decision to Wednesday evening from Thursday morning, one of the people said.