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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: Inflation fell in January, some experts expect it to be below three percent. The threat of an economic recession in the US has decreased, according to a survey of economists. Retail sales fell by 4.1 percent year-on-year last year. The Czech National Bank will discuss interest rates, analysts expect them to fall further. IMF Chief Georgieva: The global economy is heading for a soft landing. CNBC: Europe has had its worst earnings season since the onset of Covid-19. Analysts: Inflation is to blame for last year's retail slump, recovery confirmed in December. DIHK: The US will overtake China and be Germany's most important trading partner. CNB: Czech household debts to banks rose to 2.253 trillion crowns in January. The appointment of the Euro Commissioner will result in the first coalition conciliation procedure. Analysis: The number of mergers and acquisitions of Czech companies fell by 43 percent last year to 80. The Czech Statistical Office will publish data on retail sales for December and the whole of last year today. Consumer prices in China fell by the most in 14 years in January. Deloitte: The number of mergers and acquisitions in Europe and the UK fell by 24 percent last year. Germany's economic problems are dragging down the economies of Eastern European countries. Analysis: World trade will grow at a rate of 2.8 percent per year, slower than GDP. Industry in the Czech Republic fell by 0.4 percent last year, which is the worst result since Covid. EY: Chinese companies took over the fewest European companies last year since 2012. Japan slipped into recession, losing its position as the world's third largest economy. IMF: The Middle East economy is being held back by Israel's war with Hamas and lower oil production. CMKOS continues to estimate inflation of 5 percent for this year, according to it, price increases have not ended. Customs officers collected CZK 162.3 billion in taxes last year, CZK 2.9 billion less year-on-year.

Stock exchanges: According to analysts, silver is set to have a successful year, the price may rise to a 10-year high. Draslovka and gold miner Barrick have begun commercial use of glycine leaching. The price of gold has fallen below $2,000 per ounce for the first time in two months.

Finance: Coface: GDP in the Czech Republic will increase by 1.5 percent this year, average inflation will fall to 3.3 percent. Small investors have been withdrawing from European real estate funds for almost a year. Registry: Czechs' debt rose by 5.1 percent last year to CZK 3.31 trillion. Payment via Apple Pay is the most used mobile payment service in the Czech Republic. Association: Non-bank companies provided 13 percent more money last year. Port analysis: Banks are starting to take the CNB's rate cut into account in savings accounts. Société Générale's net profit fell by 60 percent, but it exceeded estimates. Austria's Erste Group, owner of Česká spořitelna, increased its profit by 39 percent last year. Swiss bank UBS reduced its quarterly loss and intends to resume buying back its shares. UniCredit Bank: Real estate investments were less disadvantageous in February than in January. Banks provided loans to companies for CZK 688 billion last year, CZK 192 billion less year-on-year. The profit of the largest European banks exceeded EUR 100 billion last year for the first time. According to the head of the Italian central bank, the ECB should soon start cutting interest rates. The Russian central bank has stopped raising interest rates, the base rate is 16 percent. Trinity Bank's gross profit fell by 200 million to 800 million crowns last year. The net profit of the ČSOB group in 2023 rose by six percent to 15.4 billion CZK. JPMorgan Chase is planning one of the largest branch expansions in several years. 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. Billionaire Buffett's Berkshire Hathaway achieved a record net profit.