• Brazil‘s laxer new fiscal rule gives authorities leeway to dial up spending when tax collections are high.
• As expected, the Czech National Bank kept the policy rate unchanged at 7%.
• President Erdogan is in a tight race ahead of upcoming elections in Turkey in May.
• In the US, the worst of the bank deposit withdrawals appears to have passed.
• Protests in France over the pension age aren’t likely to have a lasting impact on the economy.
• The UK’s BoE left the door open for further rate hikes after a 25bps raise at the end of March.
• China should be relatively shielded from the macro fallout from global strains in banking.