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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: The Czech Statistical Office will publish data on retail sales for December and the whole of last year today. The inflation rate in Hungary continues to fall rapidly, in January it was 3.8 percent. The inflation rate in Britain in January remained at four percent, growth was expected. Japan slipped into recession, losing its position as the world's third largest economy. Inflation slowed to 2.3 percent in January, welcomed by Fiala and Michl, the opposition is critical. Chamber: Trade between the Czech Republic and Germany fell by two percent last year to CZK 2.83 trillion. 85 percent of Czechs feel the effects of inflation, but expect it to get better. The Czech National Bank will discuss interest rates, analysts expect them to fall further. IMF: The Middle East economy is being held back by Israel's war with Hamas and lower oil production. DIHK: The US will overtake China and be Germany's most important trading partner. The inflation rate in Turkey accelerated to 64.9 percent in January, a slowdown was expected. Survey: Russian factory activity grew at its slowest rate in six months in January. Retail sales fell by 4.1 percent year-on-year last year. The Czech National Bank will take the koruna's exchange rate into account when further reducing rates. Štěpánka Filipová has become the new spokesperson for the Czech National Bank, previously working at CzechTourism. IMF chief Georgievová: The global economy is heading for a soft landing. Confederation of Industry: The Czech Republic must prepare faster for the arrival of the hydrogen economy. Consumer prices in China fell the most in 14 years in January year-on-year.

Stock exchanges: Gold exports from Switzerland were the highest in six years in January. Demand for gold rose by three percent last year to a record 4,899 tons. Gas, electricity and precious metal prices fell in January, while oil and sugar prices rose. Polymetal International agreed to sell Russian assets for USD 3.7 billion.

Finance: Payment via Apple Pay is the most used mobile payment service in the Czech Republic. Hypoindex: The average mortgage rate fell to 5.6 percent in early February. Index: Mutual funds made investors a profit in January, while equity funds made two percent. Banks provided loans to companies for CZK 688 billion last year, CZK 192 billion less year-on-year. The governor of the Turkish central bank has resigned, and will be replaced by her deputy. JPMorgan Chase is planning one of the largest branch expansions in several years. The ECB should soon start cutting interest rates, according to the head of the Italian central bank. HSBC increased its profit last year to a record more than 30 billion USD. Germany's Deutsche Bank saw its profit fall by 28 percent in the quarter, and is preparing layoffs. Moneta Money Bank's net profit last year was 5.2 billion CZK, up slightly year-on-year. Generation Z is spending on luxury in despair over its economic prospects. CBA: The real estate market in the Czech Republic has revived, apartment sales increased by tens of percent last year. Registries: Czech debt rose by 5.1 percent last year to 3.31 trillion CZK. Allianz Trade: The risk of companies' inability to repay their obligations decreased worldwide last year. Banks provided mortgages worth CZK 13 billion 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 Russian Central Bank will stop publishing information on monetary policy. Analysts: The interest rate cut will not have an immediate impact on the recovery of the real estate market. Survey: Two-thirds of Czechs regularly save money for retirement. Retail investors have been withdrawing from European real estate funds for almost a year. Swiss bank UBS reduced its quarterly loss, intends to resume buying back its shares. The net profit of the ČSOB group in 2023 increased by six percent to CZK 15.4 billion. The second largest Russian bank VTB had a record profit last year, and is expecting another record this year.