Bankers view 2023 with optimism and expect interest rates to fall

Bankers gathered at a Febraban (financial institutions association) event this Thursday (11) were optimistic about the scenario for 2023.

For Roberto Sallouti, CEO of BTG Pactual, the next year could positively surprise the market.
According to him, whatever the outcome of the elections, the next government will have to act in order to reestablish the fiscal anchor, in order to recover the country’s credibility with market agents.

On the global stage, next year could be marked by the beginning of interest reductions in countries that are, at the moment, in the process of monetary tightening, says Sallouti.

“The re-establishment of the fiscal anchor will stabilize inflation expectations and long-term interest rates. And the end of the monetary tightening cycle, or perhaps monetary easing, will lead to a year 2023 that could surprise everyone,” said the statement. CEO of BTG Pactual.

In the same vein, Mario Leão, president of Santander, said that Brazil entered earlier, and therefore, will also be able to exit before the cycle of high interest rates, with the potential to resume more sustainable economic growth in 2023, without the impact from high inflation to the purchasing power of the population.

“Next year we have a tremendous opportunity for Brazil to actually start to take off [dos pares]”, said Leo.

President of Itaú Unibanco, Milton Maluhy Filho added that election years are always marked by increased turmoil in the markets, but that the bank cannot be carried away by the polarization of the political field.

The most important thing, said Maluhy Filho, is to try to understand the candidates’ agenda for the economy, and how it will be implemented from 2023 onwards in search of a better country.

“Every four years we have the electoral process, which we have known for a long time. What will happen in 2023 is that we will be here at the Febraban event talking about the future, business, customers, innovation, and cheering and doing everything possible for help make Brazil work”, said the president of Itaú Unibanco.