The closure of Silicon Valley Bank (SVB), one of the main banks in USA, has caused worldwide concern. Although the Federal Reserve (FED) has implemented measures to deal with the financial crisis, uncertainty has been generated in several markets.
This mainly affects the stock markets, which could fall due to the mistrust generated, and causes variations in the price of some metals such as copper, which has dropped, and gold, which has increased in cost.
Nevertheless, this would be a circumstantial and isolated event that would not have a defined systemic effect, pointed out the economist Enrique Díaz. “Repercussions on the main macroeconomic indicators, such as interest rates, exchange rates, etc., will not occur,” he specified.
What could happen, as a side effect, is a more conservative attitude on the part of the regulators. “They can start to put more restrictions to invest in the portfolio, set limits, demand that you be covered against interest rate risk. There may be an economic impact there,” added the expert.
Peruvian nervousness
Alex Contreras, Minister of Economy and Finance, specified that this situation caused “nervousness” and reactions in the Peruvian markets, which have convulsed after a drop in stock prices. However, this would be reversing after the measures taken by the world’s central banks such as the fedthe Bank of England and the European Central Bank.
Source: Larepublica
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