MADRID, March 17 (Reuters) - The recent financial
volatility could lead to a change in the evolution of
expectations on interest rates, BBVA Chairman Carlos
Torres said on Friday.
Bank stocks tumbled over the past week, spooked first by the
collapse of Silicon Valley Bank in the United States, then the
selloff in Credit Suisse, which only ended after the Swiss
National Bank provided a 50 billion Swiss franc ($54
billion)lifeline.
"The context of uncertainty will continue, both
geopolitically and financially, as a result of high inflation
and its possible second round effects, which may lead to higher
rates and for longer, although the more recent financial
volatility (...) has changed market expectations," Torres told
shareholders on Friday in Bilbao.
(Reporting by Jesús Aguado; editing by Emma Pinedo and Inti
Landauro)
Messaging: Reuters Messaging:
jesus.aguado.reuters.com@reuters.net))
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