LATAM POLITICS TODAY-Lula taps ex-banker to shake up Brazil central bank

His nomination will still need be approved by the Senate. Biden restricts asylum at Mexico border as deadline looms WASHINGTON - The U.S. rolled out a new regulation that will deny asylum to most migrants crossing the U.S.-Mexico border illegally, a key part of President Joe Biden's enforcement plan as COVID-19 border restrictions known as Title 42 end this week. The regulation creates a new presumption that migrants arriving at the border are ineligible for asylum if they passed through other nations without seeking protection elsewhere first or if they failed to use legal pathways for U.S. entry.

The latest in Latin American politics on Wednesday: Lula taps new boss for Brazil's central bank

BRASILIA - Brazil's President Luiz Inacio Lula da Silva moved to shake up the central bank, tapping Gabriel Galipolo, the former CEO of investment bank Banco Fator and now second-in-command at the finance ministry, to be the country's new monetary policy head. The Brazilian president and his top officials have repeatedly pressed the bank's leadership to lower borrowing costs in a bid to boost Latin America's biggest economy.

Known for his diplomatic skills, Galipolo is likely to arrive at the central bank just as the bank's interest rate-setting committee is preparing for a cycle of rate cuts, making that the "natural" path rather than an agenda for him to impose, said a person familiar with the matter. His nomination will still need be approved by the Senate.

Biden restricts asylum at Mexico border as deadline looms WASHINGTON - The U.S. rolled out a new regulation that will deny asylum to most migrants crossing the U.S.-Mexico border illegally, a key part of President Joe Biden's enforcement plan as COVID-19 border restrictions known as Title 42 end this week.

The regulation creates a new presumption that migrants arriving at the border are ineligible for asylum if they passed through other nations without seeking protection elsewhere first or if they failed to use legal pathways for U.S. entry. U.S. Homeland Security Secretary Alejandro Mayorkas said the new rule would mean harsher consequences for illegal border crossers. Instead of being quickly expelled to Mexico, they could be deported and barred from the U.S. for five years if they do not qualify for asylum.

Mexico president to pitch constitutional reform to elect judges MEXICO CITY - Mexican President Andres Manuel Lopez Obrador said he would present a constitutional reform to have judges and magistrates elected by the voters.

Lopez Obrador has lashed out against the judiciary in recent days after the Supreme Court partially struck down an electoral reform, which would shrink the country's independent elections authority. The constitutional reform will "end the control of those at the top once and for all, so that it's the people of Mexico who rule and govern," Lopez Obrador told reporters at a regular press conference.

The president's ruling Morena party does not have the two-thirds majority in Congress required for approving constitutional reforms. (Compiled by Brendan O'Boyle; Editing by David Alire Garcia and Bill Berkrot)