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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: ČNB: Czech Republic's foreign debt fell by 65 billion CZK year-on-year to 4.454 trillion CZK last year. Inflation slowed to 15 percent in March, analysts and the CNB expect a further decline. Syrian president replaces several ministers, prices in the country are rising sharply. The richest Czechs expect only a gradual decline in inflation this year. Slovak central bank worsens GDP growth outlook, expects higher inflation. Nervousness in the Czech financial sector was unnecessary, says CNB Vice Governor Frait. OECD expects a slight recession in the Czech Republic this year, recommends budget consolidation. IMF: Czech economy will decline by 0.5 percent this year, grow by 2 percent in 2024. CNB records increasing number of payment frauds. Fitch downgrades Argentina's dollar debt rating to above default. Bloomberg: Onion shortage opens new chapter in global food crisis. HN: Monetary policy analysis expert Dana Hájková is leaving the Czech National Bank. The Fed, as expected, raised the base rate by a quarter of a percentage point. The current director of the Castle Protocol, Vladimír Kruliš, will join the Czech National Bank. The state collected 280.6 billion crowns in taxes in the first quarter. The Czech National Bank fined Fio banka 1 million crowns for reporting errors. ZEW: Investor and analyst confidence in the German economy unexpectedly deteriorated. The Czech Republic will express interest in a loan of at least 68 billion CZK from the EC, the government will still decide on the amount. The Swiss Central Bank raised interest rates, despite the crisis surrounding Credit Suisse. CZSO: The public finance deficit fell to 3.6 percent of GDP last year, government debt rose.

Stock exchanges: Amateur gold miner found a gold-containing stone worth 3.5 million CZK in Australia. Commodity prices fell in the first quarter, the index lost the most since the beginning of 2020. The Golden Gate retailer's sales increased by 23 percent last year to 6.5 billion CZK. The Milevsk-based heat pump manufacturer Acond is completing a hall for half a billion CZK.

Finance: Komerční banka has a photovoltaic power plant on the roof of its Prague headquarters. The CFIG financial group's net profit increased by 29 percent last year to 76 million CZK. Stuchlík's company will increase its stake in the Quant fund, which will no longer be connected to Michl. Schrek expects Vysočina to have money from Sberbank by the end of the year. The head of Credit Suisse bank apologized to shareholders for the depreciation of their assets. The Swiss parliament did not approve government aid to Credit Suisse. UBS management is trying to reassure shareholders about the takeover of rival Credit Suisse. Richard Podpiera will be the CEO of Patria Finance from May. Bank of America increased its profit in the quarter thanks to rising interest rates. Hindenburg: Payment company Block, now led by the ex-head of Twitter, enabled fraud. Česká spořitelna completed the purchase of Sberbank CZ loans, paid CZK 41.05 billion. Association: Banks are closing bank accounts of companies dealing in cryptocurrencies. Three-quarters of Czechs regularly invest their money, a survey showed. The range of institutions for which the Czech National Bank sets capital requirements is likely to expand. First Citizens will take over deposits and loans from the bankrupt Silicon Valley Bank. The EU has so far approved the merger of UBS and Credit Suisse, but is still waiting for a formal application. Hindenburg: Payment firm Block, now led by ex-Twitter boss, enabled fraud. European stocks weaken, investors worry about financial sector stability. White House calls for stricter rules for regional banks after banking industry turmoil. Hello bank! will gradually end in the Czech Republic, will stop providing new products from today. Index: Most mutual funds made money for investors in March.