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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: Analysis: Bank rates on savings accounts have remained at the same level since January. SAO: More than 48 billion CZK paid as compensation for Covid served its purpose. The G7 finance ministers' meeting was overshadowed by disputes over the United States' debt ceiling. The CNB's decision not to change interest rates is not surprising, according to analysts. PwC: The market value of the most valuable companies fell the most last year since 2009. The CNB improved the economic outlook, but increased the estimate of full-year inflation. The Czech Republic is entering a wage-inflation spiral, says CNB Bank Board member Holub. The IMF slightly improved its estimate of this year's growth in the US economy. The government package will increase costs for Moravian-Silesian companies by up to hundreds of millions of CZK. Analysts: Foreign trade was affected by energy prices and the recovery in the auto industry. Year-on-year inflation slowed to 12.7 percent in April, food prices became cheaper month-on-month. The pace of industrial production growth accelerated in March, while construction continues to fall. Michl: Year-on-year inflation should fall below ten percent within three months. Investors are moving to bonds, experts say they are attracted by high yields. Media: Central banks and governments coordinated the manipulation of interest rates during the global crisis. The economy's performance in the quarter was slightly weaker than expected by the Czech National Bank. The Czech National Bank did not change rates, Michl warned of the pro-inflationary effect of the budget. Congo is preparing to sign cooperation with China in infrastructure and mineral extraction. Foreign investment in Germany is stable, but may be threatened by incentives from the US. The Association of Local Governments does not agree with the change in the distribution of tax revenues. Experts disagree on whether the Czech National Bank should use interest rates to combat the impact of the deficit. According to the head of the Bundesbank, the eurozone has not yet won the fight against high inflation. Pavel will consult with the team or the governor of the Czech National Bank about signing the consolidation package. The European Commission has improved its estimate of the growth of the Czech economy, inflation is expected to be significantly higher. The British central bank has increased the base interest rate by a quarter of a point to 4.50 percent. The Czech Republic has an opportunity to contribute to Europe's energy security in lithium, said Fiala. Havlíček (ANO): The government is also responsible for inflation, it did not use fiscal instruments. At the conference in Ostrava, entrepreneurs will look for a way out of the economic crisis. Fiala: The Czech National Bank is responsible for inflation, its governor should not blame the government. The Hungarian central bank has started easing monetary policy. Four out of seven members of the CNB bank board were in favor of rate stability.

Stock exchanges: Central banks are buying gold in record volumes, and there is interest in the Czech Republic as well. The price of gold has exceeded 2,000 USD per ounce, close to a record. The price of gold this week exceeded 2,000 USD per ounce, close to a record. World Gold Council: The Czech Republic increased its gold reserves by 1.54 tons to 13.5 tons.

Finance: UniCredit Bank in the Czech Republic and Slovakia increased its net profit by 19 percent this year to 2.2 billion CZK. According to Reuters sources, the European Commission will approve the agreement between UBS and Credit Suisse. Commerzbank almost doubled its net profit in the quarter thanks to higher interest rates. Survey: 12 percent of Czechs have saved ten times their monthly household income. Index: Most mutual funds made money for investors in April. According to the Senate committee, the government should urgently address money laundering. The value of investor Icahn's assets has fallen sharply due to allegations of unfair practices. The average interest rate on corporate loans is 8.9 percent, close to the maximum. Credit Suisse is to pay almost a billion dollars to the former prime minister of Georgia. France has issued an international arrest warrant for the long-time head of the central bank of Lebanon.