New faces at Banxico, BanRep and Brazil’s Congress

Mexican President López Obrador’s third appointment to Banxico’s Board, Galia Borja Gómez, to replace Deputy Governor Javier Guzmán, could mark a gradual shift away from the central bank’s traditional hawkishness. Elsewhere, the appointment of Leonardo Villar as Colombia’s next central bank chief will probably safeguard its credibility. Finally, the replacement of the speakers in Brazil’s Congress adds to the reasons to think that policymakers’ commitment to fiscal austerity will wane.