Mexican President Felipe Calderon nominated Carstens as New Finance Minister for Mexico

Mexican President Felipe Calderon nominated Carstens as the country’s central bank governor, replacing Guillermo Ortiz, whose second six-year term expires at the end of the year.

The outgoing Ortiz clashed with Calderon last year for keeping interest rates higher than the government wanted as Mexico sank into recession. Analysts said Carstens was a well-respected professional who would not cave to political pressure. “This guy is very responsible, and he is a very competent technocrat. Even if he was dovish in his work at the Finance Ministry, that does not mean he will be dovish at the central bank,” said a strategist in Mexico City.