Mexico's president on Wednesday nominated a woman to run the central bank for the first time after unexpectedly ditching the previous candidate, a move that roiled markets, pushing down the peso currency and stirring uncertainty over monetary policy.
Taking government officials by surprise, President Andres Manuel Lopez Obrador proposed Victoria Rodriguez, a deputy finance minister, to replace his initial nominee for central bank governor, former finance minister Arturo Herrera.perplexed investors, prompting a sell-off in Mexican assets, analysts said. At one point, the peso currency fell over 2% against the dollar, although it later recouped some losses.
Rodriguez, speaking in a brief video address later alongside Finance Minister Rogelio Ramirez de la O, said she would fight inflation, uphold the bank's independence and not touch Mexico's international reserves if confirmed in the job. "There hasn't been any meddling by the government, by the finance ministry in the Bank of Mexico's decisions, not once," he said. "And we won't do it either."
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