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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: CNB lowers key interest rate to 6.25 percent, koruna weakens. Retail sales fell by 4.1 percent last year, but December confirmed a recovery in consumption. Today, the Czech Statistical Office will publish data on retail sales for December and the whole of last year. IMF: The Middle East economy is being held back by Israel's war with Hamas and lower oil production. Analysis: The number of mergers and acquisitions of Czech companies fell by 43 percent last year to 80. Survey: Russian factory activity grew at its slowest pace in six months in January. The appointment of a representative for the euro will result in the first coalition conciliation procedure. According to analysts, the development of producer prices shows the end of the inflation wave. Chamber: Trade between the Czech Republic and Germany fell by two percent last year to CZK 2.83 trillion. Today is the last day to file a property tax return. The inflation rate in Hungary continues to fall rapidly, in January it was 3.8 percent. Nabiullinová: Yuan payments for Russian exports already account for a third of all payments. Analysts: Inflation is to blame for last year's retail slump, recovery confirmed in December. Inflation in Britain unexpectedly accelerated to four percent in December. Survey: 29.8 percent of Czech companies encounter obstacles in the EU market. The inflation rate in Turkey accelerated to 64.9 percent in January, a slowdown was expected. Most analysts expect the CNB interest rate to fall by half a percentage point. Stanjura: The government should not set a date for the introduction of the euro before the elections. Bloomberg: Germany's days as an industrial superpower may be coming to an end. Survey: Most Czechs expect prices to rise faster than people's incomes. More than 250 billionaires and millionaires call on politicians to tax the rich more. PwC survey: Czech company bosses are more optimistic than a year ago. Zamrazilová: There must be a broader political consensus on the Czech Republic's entry into the eurozone.

Stock exchanges: Prices of gas, electricity and precious metals fell in January, while prices of oil and sugar rose. Chinese companies are investing seven billion dollars in mining infrastructure in Congo.

Finance: The British central bank, as expected, left the base rate at 5.25 percent. Raiffeisenbank's net profit fell by 27.1 percent last year to CZK 5.5 billion. Société Générale's net profit fell by 60 percent, but exceeded estimates. ČSOB Group's net profit in 2023 rose by six percent to CZK 15.4 billion. Analysis: The price of gold in the Czech Republic has risen in line with inflation over the past three years. Russian banks had record profits last year thanks to loan growth. Coface: GDP in the Czech Republic will grow by 1.5 percent this year, average inflation will fall to 3.3 percent. Survey: More than half of Czech couples consider household income to be joint. JPMorgan Chase is planning one of the largest branch expansions in several years. Moneta Money Bank's net profit last year was CZK 5.2 billion, up slightly year-on-year. Generation Z is spending on luxury in despair over their economic prospects. The governor of the Turkish central bank has resigned, she will be replaced by her deputy. Survey: One-third of Czechs consider saving money for retirement in DIP. The Hungarian Central Bank has cut the base interest rate by three-quarters of a point to 10 percent. The twenty largest hedge funds earned a record $67 billion last year. Allianz Trade: The risk of companies being unable to repay their obligations fell worldwide last year. The Ministry of Finance sold government bonds for CZK 8.8 billion, demand was three times as high. The Czech Export Bank doubled its pre-tax profit to CZK 1 billion last year. The Czech National Bank: Companies' demand for loans fell, households' demand grew. China is reducing banks' minimum reserve requirements, trying to support the economy.