AFP, MEXICO CITY:  Mexico’s president named US-trained policymaker Alejandro Diaz de Leon to head the central bank Tuesday, a figure analysts said would likely continue the hawkish policies of widely respected incumbent Agustin Carstens.

Carstens, who led the Bank of Mexico for nearly eight years, is leaving on December 1 to head the Bank for International Settlements in Switzerland, dubbed the “central bank of central banks.”

News of his departure had rattled the markets, as he was seen as a steady hand at the tiller—weathering the global financial crisis and Donald Trump’s election as US president, which battered the Mexican peso because of his threats to scrap the North American FTA.