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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: The Chinese prime minister said it would be difficult to achieve GDP growth of around five percent. Mayors are concerned that the revenue from the increased property tax would go to the state. The Czech economy entered recession in the fourth quarter of last year. The average wage in the Czech Republic reached 40,353 crowns last year, falling in real terms. EU countries have agreed on the principles of returning to fiscal rules, but not on the details. Median: Czechs most often protect themselves against inflation by investing in gold. In 2035, 51 percent of people in the world may be overweight or obese, experts warn. The Fed, as expected, raised the base interest rate by a quarter of a percentage point. David Havlíček became the chairman of the board of directors of the state-owned EGAP. Investor confidence in the eurozone economy fell in March for the first time in five months. The Vysočina Region has 1.3 billion crowns ready to finance larger projects. According to the spokesperson, the Czech National Bank does not work with materials of the highest level of secrecy. Today, the Czech National Bank left the credit market protection rate unchanged. Agency: Interest in land for the construction of photovoltaics is increasing by tens of percent. Czech National Bank: There are no banks operating in the Czech Republic with a similar model to those that failed in the USA. Inflation in the USA slowed to six percent in February, the lowest since September 2021. Zamrazilová: If the Czech National Bank predicts a 10 percent increase in wages, there is a risk of tightening monetary policy. The government wants to prepare changes to the benefit system, and also mentions greater targeting of aid. EBRD: Forecasts of an early interest rate cut in Central Europe are optimistic.

Stock exchanges: Gunmen in the Central African Republic killed nine Chinese at a gold mine. The price of gold today surpassed the $2,000 mark, its strongest in a year. The price of gold rose above $1,900 per ounce due to banking sector troubles.

Finance: Credit Suisse will borrow up to 50 billion Swiss francs from the central bank. Swiss bank Credit Suisse has discovered serious shortcomings in its statements. The value of global financial stocks decreased by $465 billion after the SVB collapse. Revolut increased sales by 33 percent last year, and the year before that it was profitable for the first time. The collapse of two American banks has caused tension in financial markets. Media: UBS is likely to buy rival Credit Suisse for more than $2 billion. The SVB collapse may have an impact on regional US banks, some investors fear. US stocks closed mixed, banks weakened. Expert: The collapse of the American bank SVB will not affect Czech start-ups to a greater extent. A British bank is considering buying the British division of the bankrupt American bank SVB. Another bank, New York's Signature Bank, has closed in the USA. The Swiss central bank will provide Credit Suisse with liquidity if necessary. ČBA: The volume of mortgages in February increased by 20 percent month-on-month, rates fell. CNBC: SVB is discussing its sale because efforts to raise capital failed. Russian bank Tinkoff canceled interest payments on Eurobonds due to sanctions. Falter: Austrian Raiffeisen is interested in the remains of Sberbank Europe. The collapse of two American banks has only a limited impact in the EU, said the European Commissioner. The deadline for questioning the sale of Sberbank CZ loans to Česká spořitelna is ending. First Citizens BancShares is considering a bid for the bankrupt bank SVB. Swiss bank UBS to take over rival Credit Suisse for three billion francs. The fate of Swiss Credit Suisse is in the hands of a handful of people, including a mathematician. European stocks have fallen sharply due to the collapse of two American banks. Bloomberg: American regulator is leaning towards breaking up the bankrupt bank SVB.