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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: Chamber: Trade between the Czech Republic and Germany fell by two percent last year to CZK 2.83 trillion. The Czech National Bank will take the koruna exchange rate into account when further reducing rates. Inflation fell in January, some experts expect it to be below three percent. 85 percent of Czechs feel the effects of inflation, but they expect it to get better. Customs officers collected CZK 162.3 billion in taxes last year, CZK 2.9 billion less year-on-year. Consumer prices in China fell the most in 14 years in January. Most analysts expect the Czech National Bank's interest rate to fall by half a percentage point. The Czech National Bank has lowered the base interest rate to 6.25 percent, the koruna has weakened. Bloomberg: Germany's days as an industrial superpower may be coming to an end. Analysts: Industry will start growing slowly this year, by about two percent. Germany's economic problems are dragging down the economies of Eastern European countries. Turkey's inflation rate accelerated to 64.9 percent in January, a slowdown was expected. CMKOS continues to estimate inflation at 5 percent for this year, according to it, price increases have not ended. Inflation slowed to 2.3 percent in January, welcomed by Fiala and Michl, the opposition is critical. CSSA: The number of entrepreneurs in the Czech Republic increased by 23,000 last year to 1.127 million. Analysis: World trade will grow at a rate of 2.8 percent per year, slower than GDP. Poland's inflation rate fell significantly in January, reaching 3.9 percent. Analysts: Last year's decline in construction production is a reflection of the state of the Czech economy. WSJ: Indonesia is trying to join the family of Asian economic tigers.

Stock exchanges: The price of gold fell below $2,000 per ounce for the first time in two months. In January, gas, electricity and precious metal prices fell, while oil and sugar prices rose. Polymetal International agreed to sell Russian assets for $3.7 billion.

Finance: Czech Export Bank doubled its pre-tax profit last year to CZK 1 billion. Portu analysis: Banks are starting to take the CNB rate cut into account in savings accounts. Analysts: The interest rate cut will not have an immediate impact on the real estate market recovery. The net profit of the ČSOB group in 2023 rose by six percent to CZK 15.4 billion. Germany's Deutsche Bank saw its profit fall by 28 percent in the quarter, and is preparing layoffs. Coface: GDP in the Czech Republic will grow by 1.5 percent this year, average inflation will fall to 3.3 percent. The Russian Central Bank has stopped raising interest rates, the base rate is 16 percent. The European Investment Bank supported projects worth 47.5 billion crowns in the Czech Republic last year. Survey: A third of Czechs regret not investing their excess money. Hypoteční banka is changing its name to ČSOB Hypoteční banka, nothing is changing for clients. Hypoindex: The average mortgage rate fell to 5.6 percent in early February. Banks provided loans to companies for 688 billion CZK last year, 192 billion less year-on-year. Retail investors have been withdrawing from European real estate funds for almost a year. Generation Z, desperate about their economic prospects, is spending on luxury. The British central bank, as expected, left the base interest rate at 5.25 percent. Banks provided mortgages worth 13 billion CZK in January, double the year-on-year figure. Bloomberg: Renáta Kellnerová is changing the face of PPF, turning the group more towards the West. The Turkish central bank left the base interest rate at 45 percent, the lira continues to fall. Trump does not intend to renew the mandate of the current head of the US central bank. The second largest Russian bank VTB had a record profit last year, and another record is expected this year. A boy with a genetic disorder returned to the Czech Republic after surgery in France. The profit of the largest European banks exceeded 100 billion euros for the first time last year. According to the head of the Italian central bank, the ECB should soon start cutting interest rates.