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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. Stanjura: The government should not set a date for the introduction of the euro before the elections. Confederation of Industry: The Czech Republic must prepare faster for the emergence of the hydrogen economy. CSSA: The number of entrepreneurs in the Czech Republic increased by 23,000 last year to 1.127 million. Germany's economic problems are dragging down the economies of Eastern European countries. Consumer prices in China fell by the most in 14 years in January. The Czech National Bank will discuss interest rates, analysts expect them to fall further. The inflation rate in Britain remained at four percent in January, growth was expected. Industry in the Czech Republic fell by 0.4 percent last year, which is the worst result since Covid. PwC survey: Czech company bosses are more optimistic than a year ago. Turkey's inflation rate accelerated to 64.9 percent in January, a slowdown was expected. Nabiullinová: Yuan payments for Russian exports already account for a third of all payments. Most analysts expect the CNB interest rate to drop by half a percentage point. Analysts: Confidence in the economy does not indicate a sharp rebound from the bottom. IMF improved its estimate of this year's global economic growth to 3.1 percent. According to the central bank, the recovery of the German economy is delayed. Survey: Most Czechs expect faster price growth than income growth. Inflation fell in January, some experts expect it to be below three percent. A record 282,658 entrepreneurs closed their businesses last year; the reason is data boxes. Analysts: Inflation is to blame for last year's retail slump, recovery confirmed in December. Analysts: Last year's decline in construction production reflects the state of the Czech economy. The threat of an economic recession in the US has decreased, according to a survey of economists. The Czech National Bank has lowered the base interest rate to 6.25 percent, the crown has weakened.

Stock exchanges: The price of gold has fallen below $2,000 per ounce for the first time in two months. According to analysts, silver is set to have a successful year, the price may rise to a 10-year high. Demand for gold rose by three percent last year to a record 4,899 tons.

Finance: The Fed has not changed interest rates; its reduction is conditional on certainty that inflation is falling. Trump does not intend to renew the mandate of the current head of the US central bank. The European Investment Bank supported projects in the Czech Republic worth 47.5 billion crowns last year. The net profit of the ČSOB group in 2023 increased by six percent to CZK 15.4 billion. The net profit of Moneta Money Bank last year was CZK 5.2 billion, slightly increasing year-on-year. Analysis by Portu: Banks are starting to take the decrease in CNB rates into account in savings accounts. Germany's Deutsche Bank's profit fell by 28 percent in the quarter, preparing layoffs. Survey: Two-thirds of Czechs regularly save money for retirement. Survey: Czechs are most concerned about their health, neglect preventive checks. Russian banks had a record profit last year thanks to credit growth. Analysis: The price of gold in the Czech Republic has increased in line with inflation over the past three years. Czech Export Bank doubled its pre-tax profit last year to CZK one billion. The Turkish Central Bank increased its base interest rate to 45 percent. Analysts: The interest rate cut will not have an immediate impact on the recovery of the real estate market. Italian banking group UniCredit increased its profit by almost 54 percent last year. Allianz Trade: The risk of companies being unable to repay their obligations fell worldwide last year. Hypoindex: The average mortgage rate fell to 5.6 percent in early February. Société Générale's net profit fell by 60 percent, but it exceeded estimates. Swiss bank UBS reduced its quarterly loss and intends to resume buying back its shares.