Weekly Report - 16 March 2023 (WR-23-11)

BRAZIL | Lower interest rates? Brazil’s finance minister Fernando Haddad confidently asserted on 13 March, at an event hosted by newspapers O Globo and Valor Económico, that the collapse of Silicon Valley Bank (SVB) and Signature Bank in the US should not pose a systemic risk, but was “serious”. A silver lining for the government led by President Luiz Inácio Lula da Silva could be the bringing forward of a reduction in Brazilian interest rates.