Mexico Dithers With Banxico Presidency as CPI Rises, Peso Drops
- President Pena Nieto has yet to name a new central bank head
- Current Governor Carstens leaves at the end of the month
Photographer: Susana Gonzalez/Bloomberg
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In two weeks time, the central bank governor of the second-largest economy in Latin America will leave his post. No one seems to have a clear idea of who will replace him.
Agustin Carstens announced his plans to leave almost a year ago, yet Mexico’s President Enrique Pena Nieto hasn’t even proposed the name of his replacement. If he continues to dither, the bank’s longest-serving policy maker, Roberto del Cueto -- a lawyer by training -- will take over temporarily next month. It’s a stopgap measure that is unlikely to reassure the more-than-$10 billion-a-day peso market.