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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: CNBC: Concerns about the collapse of the European commercial real estate market are growing. The Czech National Bank did not change rates, Michl warned of the pro-inflationary effect of the budget. According to the IDEA study, purchasing power has decreased for some benefits, but has increased significantly for others. The Wine Union disagrees with the proposal to introduce a tax on still wines. Havlíček (ANO): The government is also responsible for inflation, it did not use fiscal tools. The Vysočina Region had 285 million higher tax revenues in the first quarter than last year. The Czech National Bank has fined three million crowns to the loan provider Fair Credit Czech. Putin's new decree allows Moscow to take control of foreign property in Russia. Unemployment in the Czech Republic has continued to fall, by a tenth of a point in April to 3.6 percent. The Fed raised the base rate by a quarter of a percentage point, as expected. Ajay Banga will be the new head of the World Bank. Taiwan's economy fell the most in the first quarter since 2009. Entrepreneurs expect economic stagnation and high inflation this year. Fiala: The Czech National Bank is responsible for inflation, its governor should not blame the government. Analysis: Bank rates on savings accounts have remained at the same level since January. Former Czech National Bank Vice Governor Tomáš Nidetzký has been leading the National Development Bank since May. Investment in commercial real estate in Europe was the lowest in 11 years by March. ZEW: Investor and analyst confidence in the German economy unexpectedly deteriorated. The growth rate of industrial production accelerated in March, while construction continues to fall. Year-on-year inflation slowed to 12.7 percent in April, food prices became cheaper month-on-month. According to the head of the Bundesbank, the eurozone has not yet won the fight against high inflation. Four out of seven members of the CNB bank board were in favor of rate stability. Experts disagree on whether the CNB should use rates to combat the impact of the deficit. CNB: Czech household debts to banks rose to 2.16 trillion crowns in March. Foreign investors hold a record volume of Czech government bonds. Cross-border payments for online purchases will probably be recorded. The CNB improved the economic outlook, but increased its estimate of full-year inflation.

Stock exchanges: Analysts: Possible sanctions on Russian diamonds would disrupt the global jewelry market. The Mangan Chvaletice company begins testing a verification unit for manganese production. The price of gold exceeded 2,000 USD per ounce this week, close to a record. Milada and Radek Bláh created a bouquet with 118 flowers made of pure gold.

Finance: Index: Most mutual funds made money for investors in April. American banks JPMorgan, Wells Fargo and Citi have higher profits thanks to higher interest rates. Moody's has worsened the outlook for the rating of betting company Allwyn due to higher debt. Credit Suisse recorded a large outflow of assets in the first quarter. The value of investor Icahn's assets fell sharply due to accusations of unfair practices. PacWest shares lose 26 percent, the bank announced an outflow of deposits. Analysis: The average yield on corporate bonds in the Czech Republic rose to 8.28 percent in March. Trinity Bank will pay shareholders 378.2 million crowns in dividends. Erste, the owner of Česká spořitelna, increased its profit by 32 percent in the first quarter. In the US, the third major bank has closed in two months, the authorities closed First Republic. Bank of America increased its profit in the quarter thanks to rising interest rates. Deutsche Bank increased its profit by eight percent in the quarter thanks to higher interest rates. SAS Institute: Banks have been using artificial intelligence platforms for over ten years. Sberbank CZ administrator sold all of the bank's corporate bonds for 718 million CZK.