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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: Pavel will consult with the team or the CNB governor about signing the consolidation package. The Czech Republic is interested in Uzbek uranium and copper, said Prime Minister Fiala in Tashkent. Ifo: The wave of price increases in Germany is over, but the decline in inflation will be slow. As expected, the Fed raised the base interest rate by a quarter of a percentage point. Inflation in the US fell to a two-year low of 4.9 percent in April. The head of the Polish central bank hopes to be able to start cutting interest rates this year. Analysts: Confidence in the economy indicates that the Czech Republic has already overcome the recession. Former finance ministers: The approved state budget deficit is unrealistic, it will be higher. Four out of seven members of the CNB bank board were in favor of rate stability. Ajay Banga will be the new head of the World Bank. Unemployment in the Czech Republic continued to fall, down a tenth of a point to 3.6 percent in April. The G7 finance ministers' talks were overshadowed by disputes over the United States' debt ceiling. The European Commission improved its estimate of Czech economic growth, inflation is expected to be significantly higher. CNB: Czech households' debts to banks rose to 2.16 trillion crowns in March. Investor confidence in the eurozone economy unexpectedly returned to decline in May. The General Meeting of the Confederation of Industry elected Jan Rafaj as the new president today. Michl: Year-on-year inflation should fall below ten percent within three months. According to the IDEA study, purchasing power fell for some benefits, while it rose significantly for others. Supporters of rate increases at the CNB argued that the economy was cooling down slightly. The CNB fined loan provider Fair Credit Czech three million crowns. Investment in commercial real estate in Europe was the lowest in 11 years until March. The British central bank raised the base interest rate by a quarter of a point to 4.50 percent. According to statistics, the German economy stagnated in the first quarter. Year-on-year inflation slowed to 12.7 percent in April, food prices fell month-on-month. Experts disagree on whether the Czech National Bank should use interest rates to combat the impact of the deficit. Kofola is shocked by the proposal to increase VAT to 21 percent, the director said. The Czech National Bank's decision not to change interest rates is not surprising, according to analysts. Fiala: The government is now benefiting more than the previous two.

Stock exchanges: Central banks are buying gold in record volumes, there is interest in the Czech Republic as well. Index: Commodity prices have fallen by five percent this year, with natural gas falling the most. Milada and Radek Bláh created a bouquet with 118 flowers made of pure gold. The price of gold exceeded 2,000 USD per ounce, close to a record. Global demand for silver increased by 18 percent last year to a new record.

Finance: A third major bank in the US has closed in two months, authorities have closed First Republic. Analysis: The average yield on corporate bonds in the Czech Republic rose to 8.28 percent in March. Komerční banka's profit in the first quarter rose by 1.4 percent year-on-year to CZK 3.6 billion. The largest Swiss bank, UBS, saw its quarterly profit fall by 52 percent to USD 1 billion. BNP Paribas doubled its profit in the quarter thanks to the sale of its American division. Moody's has worsened the outlook for the rating of betting company Allwyn due to higher debt. Index: Most mutual funds made money for investors in April. Survey: 12 percent of Czechs have saved ten times their monthly household income. The Ministry of Finance sold government bonds for 21.8 billion crowns, demand was higher. Vacancies in the financial sector in London decreased by almost a third. Trinity Bank will pay shareholders 378.2 million crowns in dividends. SAS Institute: Banks have been using artificial intelligence platforms for over ten years.