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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: Consumer prices in China rose for the first time in six months in February. The Czech economy performed better than the Czech National Bank expected in the fourth quarter. The Czech National Bank cut its interest rate to 5.75 percent, experts expect cheaper loans. Analysts expect another cut in the Czech National Bank's base interest rate. WSJ: Indonesia is trying to join the family of Asian economic tigers. Deloitte: The number of mergers and acquisitions in Europe and the UK fell by 24 percent last year. Confidence in the Czech economy fell again in February. Analysis: World trade will grow at a rate of 2.8 percent per year, slower than GDP. Analysts: The weakening of the economy is starting to be reflected in fewer vacancies. CNB: Czech household debt to banks rose to 2.253 trillion crowns in January. Industrial conditions worsened further in February, but less than in January. DIW: German economy is not recovering as quickly as expected. Real wages in the Czech Republic have fallen again, analysts say they are at the level of 2017. Analysts: The economy was dragged down by household consumption dampened by high inflation. CNBC: Europe has had its worst earnings season since the onset of Covid-19.

Stock markets: Russian aluminum company Rusal's profit fell last year due to lower prices. Polymetal International has agreed to sell Russian assets for 3.7 billion USD. The price of gold is at a record high thanks to the expected interest rate cut in the US. Gas, electricity and grain prices are falling this year, while oil, aluminum and cotton are becoming more expensive. The price of gold has climbed to another record, surpassing 2,200 USD per troy ounce. Gold exports from Switzerland were the highest in six years in January.

Finance: The British central bank did not change interest rates, but indicated their future reduction. The Turkish central bank left the base interest rate at 45 percent, the lira continues to fall. Italian insurance company Generali and Austrian rival VIG report higher profits for last year. Association: The number of payment cards in the Czech Republic increased by 1.2 million last year to 15.2 million. Reuters: Deutsche Bank intends to request the liquidation of a Chinese developer. The Swiss central bank calls for a change in regulation, referring to Credit Suisse. The J&T Arch Investments fund acquired a stake in Emma Alpha Holding for CZK 2.5 billion. The Japanese central bank raised the base interest rate after 17 years. Survey: A third of Czechs regret not investing their excess money. The Turkish central bank raised the base interest rate by five points to 50 percent. Austria's Erste Group, owner of Česká spořitelna, increased its profit by 39 percent last year. Apple Pay is the most used mobile payment service in the Czech Republic. Capital One is buying credit card issuer Discover for USD 35 billion. Allianz Trade: The number of companies in insolvency worldwide rose by seven percent last year. A boy with a genetic disorder returned to the Czech Republic after surgery in France. S&P raised Portugal's rating to A-, praising the reduction in debt. Media: Saudi Arabia is preparing a giant fund for investments in artificial intelligence. HSBC increased its profit last year to a record more than USD 30 billion. Analysts: The price of gold is heading for records this year, the reason is budget deficits. The German and Dutch central banks had multi-billion losses last year. Fitch changed the outlook for the Czech Republic's main credit rating from negative to stable. Hypoindex: The average mortgage rate rose to 5.62 percent in early March. The volume of crowdfunding investments increased by two billion to three billion CZK last year. The profit of banks in the US fell by 43.9 percent in the fourth quarter.