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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: Lagarde: ECB will take decisive action to push inflation back to two percent. The priority of MEPs for the next EU summit is the competitiveness of the economy. As expected, the Fed raised the base interest rate by a quarter of a percentage point. Agency: Interest in land for the construction of photovoltaics is increasing by tens of percent. The Vysočina region has prepared 1.3 billion crowns to finance larger projects. The EU should produce more green technologies and key raw materials, the EC proposed. Fitch has lowered the rating of Argentina's debt in dollars above insolvency. Coronavirus and the energy crisis have increased interest in Elmarco's Nanospiders. EBRD: Forecasts of an early interest rate cut in Central Europe are optimistic. David Havlíček has become the chairman of the board of directors of the state-owned EGAP. CNB: There are no banks operating in the Czech Republic with a similar model to those that failed in the US. Median: Czechs most often protect themselves from inflation by investing in gold. EU countries have agreed on the principles of returning to fiscal rules, but not on the details. CNB has fined Fio banka one million crowns for reporting errors. CNB will not change interest rates at Wednesday's meeting, analysts agree.

Stock exchanges: Gunmen in the Central African Republic killed nine Chinese at a gold mine. The price of gold exceeded the 2,000 USD mark today, its strongest in the last year. Milevský heat pump manufacturer Acond is completing a hall for half a billion CZK.

Finance: Credit Suisse shares fell by a quarter, the main investor ruled out further aid. Expert: The collapse of the American bank SVB will not affect Czech start-ups to a greater extent. The collapse of SVB may have an impact on regional US banks, some investors fear. Small banks in the US have recorded a record drop in deposits after the collapse of SVB. ČBA: The volume of mortgages in February increased by 20 percent month-on-month, rates fell. Swiss bank UBS will take over rival Credit Suisse for three billion francs. The value of global financial stocks decreased by 465 billion USD after the collapse of SVB. CNBC: SVB is discussing its sale because efforts to raise capital failed. The collapse of two American banks has caused tension in the financial markets. The American SVB has gone bankrupt, it is the largest bank collapse in the US since 2008. European bank stocks are weakening sharply, the takeover of Credit Suisse has not calmed the markets. The parent company of the bankrupt American bank SVB has declared bankruptcy. Credit Suisse will borrow up to 50 billion Swiss francs from the central bank. CBA: Mortgage volume increased by 20 percent month-on-month in February, rates fell. Moody's: European banking systems remain in good shape. Bloomberg: UBS asks for government support in case of a takeover of Credit Suisse. Hindenburg: Payment firm Block, now led by the ex-CEO of Twitter, enabled fraud. Reuters: Credit Suisse is just buying time thanks to help from the central bank. The American banking system is safe, the American president assured. The collapse of SVB may have an impact on regional US banks, some investors fear. A British bank is considering buying the British division of the bankrupt American bank SVB. Media: UBS is likely to buy rival Credit Suisse for more than two billion USD. Hindenburg: Payment firm Block, now led by the ex-CEO of Twitter, enabled fraud. Italian insurance company Generali increased its operating profit by 11.2 pct. last year to a record. ČSOB warned today about fraudsters who abuse its logo. Bloomberg: Banks lift bans on hiring employees, want talent from Credit Suisse. European stocks fall sharply, Deutsche Bank loses over ten percent.