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Expectation of Selic drop, PF hears Bento Albuquerque about jewelry and more than March 14

The Brazilian government’s expectation that the bankruptcy of the Silicon Valley Bank (SVB) will favor a fall in the basic interest rate in the country, the testimony to the Federal Police (PF) of the former Minister of Mines and Energy Bento Albuquerque are among the highlights of this Tuesday -Friday (14).

Government sees more room for Selic to fall with banking stress in the US

The Brazilian government believes that the bankruptcy of the Silicon Valley Bank (SVB) should shorten and smooth the cycle of monetary tightening in the United States, with potentially favorable impacts for the exchange rate and interest rates in Brazil.

Until the episode involving the SVB and the closure of the Signature Bank, the market had been betting on a few more rounds of hikes in US interest rates. Analysts spoke of the possibility of raising rates to a range between 5.5% and 5.75%. The last increase by the Federal Reserve (Fed) took place in early February, when the interest band went to a range of 4.5% to 4.75%.

For a member of the economic team, the stress on the banking system in the United States brings huge uncertainty about the continuation of the increase. At the Ministry of Finance, it was mentioned that Goldman Sachs already predicted stability in interest rates at the next Fed meeting, which ends on March 22nd.

The breakdown of the SVB should not significantly affect the Brazilian economy, at first, according to specialists consulted by the CNN . However, the event in the US market may cause the Central Bank (BC) to indicate, at its next meeting, that the start of interest rate cuts may be brought forward.

Former minister Bento Albuquerque testifies to the PF about jewelry this Tuesday (14)

Former Minister of Mines and Energy Bento Albuquerque will testify to the Federal Police (PF) this Tuesday (14) about the jewels brought to Brazil in 2021 after a visit to Saudi Arabia.

Albuquerque represented Brazil at an event in the country where then-president Jair Bolsonaro (PL) had been invited in October 2021. At the end of the commitment, Prince Mohammed bin Salman Al Saud handed the then-minister a necklace, a ring, a watch and a pair of diamond earrings valued at 3 million euros, equivalent to R$16.5 million.

Both the former head of Mines and Energy and his team of advisors traveled on a commercial flight. Upon arriving at Guarulhos airport, in São Paulo, on the 26th of that month, one of the advisors was prevented from taking the gifts since the values ​​exceeded US$ 1,000.

The Federal Revenue Service in Brazil requires that any good that enters the country whose value exceeds this amount be declared to the tax authorities.

Silicon Valley Bank Employees Blame CEO for Collapse

The internal “game” has begun to see who was to blame for causing the Silicon Valley Bank (SVB) to collapse, and the tech industry is pointing the finger at SVB CEO Greg Becker for allowing his company to go down in history. as the second-largest bank failure ever recorded in the United States.

A Silicon Valley Bank official, who requested anonymity to speak freely, was baffled by how Becker publicly acknowledged the extent of the bank’s financial problems before privately securing the financial support it needed to weather the storm.

This set the stage for the ensuing panic as customers rushed to try to withdraw their money.

“That was absolutely idiotic,” the employee, who works in asset management at Silicon Valley Bank, said in an interview with CNN . “They were being very transparent. It’s the exact opposite of what you would normally see in a scandal. But their transparency and frankness blew them away.”

Former Minister Eliseu Padilha dies of cancer at the age of 77

Former minister Eliseu Padilha died, this Monday (13), as a result of stomach cancer discovered a month ago. He was hospitalized in serious condition at Hospital Moinhos de Vento, in Porto Alegre. The information was confirmed by the policy analyst at CNN Basilia Rodrigues.

Since last week, his health condition was already “serious and irreversible”, according to his advisory, due to complications from myeloma, a type of cancer that affects bone marrow cells.

The wake will be open to the public this Wednesday (15), at the Piratini Palace, seat of the government of Rio Grande do Sul, from 10am to 5pm. After that, the body will be taken to the Angelus Memorial and Crematorium for a ceremony restricted to family members.

Willian Bidoge speaks out about the report of the coup by Mayke and Scarpa: “I am a victim”

Fluminense striker Willian Bigode used social networks on Monday (13) to comment on the controversy involving the investments of two former teammates.

“WLJC is a financial management company, it is not an investment company, it is not a brokerage. I am not the owner or partner of Xland, much less a scammer, not least because I did not take money from anyone. I am a victim, because until today I have not received my appeal”, he said.

“The most painful, embarrassing and sad thing is that you see and hear lies and slander, but my team of lawyers is already taking all the appropriate measures”, he added.

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* Posted by Leo Lopes

Source: CNN Brasil

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