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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: Congo is preparing to sign a cooperation agreement with China in infrastructure and mineral extraction. According to analysts, the Czech National Bank will probably keep the interest rate at seven percent, they do not expect a reduction. The IMF has slightly improved its estimate of this year's growth in the US economy. Ajay Banga will be the new head of the World Bank. Former Czech National Bank Vice Governor Tomáš Nidetzký has been heading the National Development Bank since May. The Czech Republic has an opportunity to contribute to Europe's energy security in lithium, said Fiala. The G7 finance ministers' meeting was overshadowed by disputes over the United States' debt ceiling. Inflation in the US fell to a two-year low of 4.9 percent in April. The Czech Republic is entering a wage-inflation spiral, according to CNB Bank Board member Holub. Experts disagree on whether the CNB should use interest rates to combat the impact of the deficit. Analysts: Foreign trade was affected by energy prices and the recovery in the auto industry. The Czech National Bank did not change rates, Michl warned of the pro-inflationary effect of the budget. The Senate wants rules on conflict of interest directly in the Public Procurement Act. The state collected 790 billion in taxes into the budget last year, 90 billion more year-on-year. According to the head of the Bundesbank, the eurozone has not yet won the fight against high inflation. According to analysts, the decision of the Czech National Bank not to change interest rates is not surprising. Fed chief: Risks are more balanced, the June decision on rates is unclear. Supporters of the Czech National Bank's rate hike argued that the economy is cooling down a little. Havlíček (ANO): The government is also responsible for inflation, it did not use fiscal tools. France will allocate half a billion euros annually for tax breaks for so-called green investments. The Vysočina region had 285 million higher tax revenues in the first quarter than last year. Prime Minister Fiala will meet with the CNB Governor Michl and members of the Bank Board today. Investor confidence in the eurozone economy unexpectedly returned to decline in May. Presidential advisor: The involvement of the Senate in the appointment of the CNB Board is being debated at the Castle. The CNB improved the economic outlook, but increased the estimate of full-year inflation. CNB: Banks' net profit increased by 32.3 billion CZK year-on-year to 102.6 billion CZK. S&P agency left Slovakia's rating at A+, but raised the outlook to stable. Fiala: The CNB is responsible for inflation, its governor should not blame the government. Survey: 95 percent of Czechs are worried about their financial situation due to inflation.

Stock exchanges: Fiala: The draft law on corporate transformations is general, it does not concern a specific company. The price of gold exceeded 2,000 USD per ounce this week, it is close to a record. Analysts: Demand for platinum will increase sharply this year, there is a deficit on the market. Index: Commodity prices fell by five percent this year, with natural gas falling the most.

Finance: Index: Most mutual funds made money for investors in April. The value of investor Icahn's assets fell sharply due to accusations of unfair practices. CNB Governor Michl today presented the first award for the contribution of financial literacy. ČSOB survey: Most companies are satisfied with the current exchange rate of the koruna to the euro. Donor states have pledged $2.4 billion to help Africa fight hunger. Komerční banka's profit in the first quarter increased by 1.4 percent year-on-year to CZK 3.6 billion. First Republic shares weaken after news that the company is heading for forced administration. Last weekend in April, Sberbank CZ's loan clients transferred to Česká spořitelna. Credit Suisse is to pay almost a billion dollars to the Georgian ex-prime minister. Commerzbank almost doubled its net profit in the quarter thanks to higher interest rates. The average interest rate on corporate loans is 8.9 percent, close to its peak. Biden and McCarthy have agreed to raise the US debt ceiling.