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ZLATOVNA ECONOMIC NEWS
A quick look at what's new in the world of economic policy, finance and precious metals.

Economy: ČNB: Czech households' debts to banks rose to CZK 2.293 trillion in May. Analysis: Football Euro will help European airlines, hotels and breweries in particular. Japan's economy unexpectedly fell by two percent in the first quarter. Analysts: Development of agricultural producer prices gives hope for cheaper food. Study: Average wage in the Czech Republic in euros reached EUR 1,779, growing the least in the V4. The inflation rate in the US slowed to 3.4 percent in April, as expected. There is time until the end of June to exchange invalid banknotes in banks. Analysis: Active support for employee health can bring the state CZK 75 billion. IMF warns of the impact of generative artificial intelligence on the labor market. GDP growth in the first quarter of 0.2 percent was below expectations, held back by investments. Football fans in Germany must expect sold-out hotels and full trains. Study: There were 22.8 million dollar millionaires last year, the most since 1997. Satisfaction with the standard of living of households is greater than with the country's economic situation. Analysts: The CNB Bank Board will continue to cut rates, the question is how significantly. Analysts: Wage growth exceeded market expectations, may support consumption. Study: The Czech Republic has the highest corporate income tax among the V4 countries. State agency CzechInvest opened a new foreign office in Taiwan.

Stock exchanges: BHP withdrew from its attempt to take over Anglo American for 49 billion USD. Bloomberg: Saudi Arabia plans to launch a secondary offering of Aramco shares. Miners are having trouble keeping up with gold mining growth, according to the WGC. Saudi Arabia has launched a secondary sale of shares in oil company Aramco. Commodity prices have generally been rising on the markets this year, with their index up 5.5 percent. The price of gold is at a record high, falling just below $2,450 per troy ounce.

Finance: ÚOHS: SAB Financial Group buys a controlling stake in Trinity Bank. Creditas Bank has acquired more than a 50 percent stake in NEY Savings Cooperative. PPF Group CEO Jiří Šmejc ruled out the sale of Air Bank. Hungary's central bank has cut its base rate to 7.25 percent. The Bank of England has left interest rates unchanged, as expected. According to its boss, the Polish central bank will cut interest rates again in 2026 at the earliest. The Swiss central bank has cut the base rate by a quarter of a point to 1.25 percent. Šmejc: PPF is targeting Western markets instead of the East, but Europe lacks a longer-term vision. World Council: The Czech Republic was fifth in the world in gold purchases in the first quarter. Banks will pay CZK 4.2 billion into the Guarantee System funds, CZK 2.2 billion less than last year. Banks provided mortgages worth CZK 21.9 billion in April, double the year-on-year figure. Commodity prices on the markets increased in the first half of the year, the index added three percent. CNB: The number of exchange offices in the country decreased again last year, the situation has improved thanks to inspections. KKCG will issue bonds worth at least CZK 5 billion. Index: Almost half of productive Czechs are now repaying mortgages, loans or credits. Index: The average Czech investor in funds earned 5.7 percent in the first half of the year. In May, banks provided mortgages for CZK 23.7 billion, up 92 percent year-on-year. The Czech National Bank did not change the rules for mortgages, introduced a new reserve for banks. The six largest banks in the Czech Republic saw their net profit increase by a fifth this year to CZK 17.9 billion. Index: Mutual funds generally continued to earn investors in May. Allianz Trade: The world economy should grow by 2.8 percent this year and next. Analysis: Banks are reducing interest rates on savings accounts, the highest is already below six percent.