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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: Analysts: Foreign trade was affected by energy prices and the recovery in the auto industry. Prime Minister Fiala will meet with CNB Governor Michl and members of the Bank Board today. MFA: The reduction in money for salaries in the state sector cannot be applied generally. Fed chief: Risks are more balanced, the June decision on rates is unclear. Kofola is shocked by the proposal to increase VAT to 21 percent, the director said. SAO: More than 48 billion CZK paid as compensation for Covid has fulfilled its purpose. The Czech Republic is entering a wage-inflation spiral, says CNB Bank Board member Holub. Fiala: The CNB is responsible for inflation, its governor should not blame the government. The growth rate of industrial production accelerated in March, while construction continues to fall. Fiala: The government now has a greater benefit than the previous two. Media: The manipulation of interest rates during the global crisis was coordinated by central banks and governments. Investor confidence in the eurozone economy unexpectedly returned to decline in May. Michl: Year-on-year inflation should fall below ten percent within three months. Comments on the austerity package concern the distribution of taxes and the annuity of ex-presidents. At the conference in Ostrava, entrepreneurs will seek a way out of the economic crisis. The compromise proposal on the US debt ceiling awaits its first test in Congress. The Confederation of Employers criticizes the adjustments to work agreements or benefits. Negotiations to avert US insolvency are stalled, the continuation is uncertain. The IMF slightly improved its estimate of this year's growth of the US economy. Presidential advisor: The involvement of the Senate in the appointment of the CNB board is being debated at the Castle. The limit for small-scale contracts will not be increased, the House of Representatives voted against the Senate. IMF: German economic growth will hover around zero this year, then accelerate. Havlíček (ANO): The government is also responsible for inflation, it did not use fiscal tools. Congo is preparing to sign cooperation with China in infrastructure and mineral extraction. The Association of Local Governments does not agree with the change in the distribution of tax revenues. Supporters of the rate increase in the CNB argued that the economy is cooling down slightly. Survey: 95 percent of Czechs are afraid of their financial situation due to inflation. Investors are moving to bonds, according to experts, they are attracted by high yields. Experts disagree whether the CNB should fight the impact of the deficit with rates. The Reserve Administration may only be able to reserve part of the stocks at retailers. One of Germany's biggest fraudsters has received another sentence of more than eight years.

Stock Exchanges: Analysts: Possible sanctions on Russian diamonds would disrupt the global jewelry market. The price of gold exceeded $2,000 per ounce this week, close to a record. Analysts: Demand for platinum will increase sharply this year, there is a deficit on the market. Central banks are buying gold in record volumes, there is also interest in the Czech Republic. Fiala: The draft law on corporate transformations is general, it does not concern a specific company.

Finance: Analysis: The number of Czechs saving has increased by a third in the past year. France has issued an international arrest warrant for the long-time head of Lebanon's central bank. AP: The effects of a US default would be felt by countries all over the world. Biden and McCarthy have agreed to raise the US debt ceiling. ČSOB survey: Most companies are satisfied with the current exchange rate of the crown against the euro. According to the Senate committee, the government should urgently address money laundering. Survey: The average Czech saves more than the rest of Europe and has less debt. Komerční banka's profit in the first quarter increased by 1.4 percent year-on-year to CZK 3.6 billion. Shares of American regional banks weaken before the start of trading.