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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: EBRD: Forecasts of early interest rate cuts in Central Europe are optimistic. The situation of European banks is stable, EU leaders agree after the summit. Fitch has lowered Argentina's dollar debt rating above default. Former Czech National Bank Vice Governor Nidetzký will be the new member of the NRB board of directors. Bloomberg: Onion shortage opens a new chapter in the global food crisis. The Vysočina region has 1.3 billion crowns ready to finance larger projects. Inflation in the US slowed to six percent in February, the lowest since September 2021. The Fed raised the base rate by a quarter of a percentage point, as expected. The Czech National Bank today left the credit market protection rate unchanged. The Czech National Bank will not change interest rates at Wednesday's meeting, analysts agree. The head of Exxon criticized the EU's energy policy, saying it went too far. Despite turbulent markets, the ECB raised key rates by half a percentage point. Lagarde: The ECB will take decisive action to push inflation back to two percent. Inflationary pressures in the Czech economy are only slowly fading, analysts agree. Zamrazilová: If the Czech National Bank predicts a 10 percent wage increase, there is a risk of tightening monetary policy. The Chinese prime minister said that it will be difficult to achieve GDP growth of around five percent. Agency: Interest in land for the construction of photovoltaics is increasing by tens of percent.

Stock exchanges: Argentina's mining exports rose by the most in ten years last year thanks to lithium. Gunmen in the Central African Republic killed nine Chinese at a gold mine. UBS: China could control a third of the lithium market by 2025.

Finance: The collapse of two American banks has only a limited impact in the EU, said the European Commissioner. Bloomberg: UBS asks for government support in the event of a takeover of Credit Suisse. ČSOB warned today about fraudsters who abuse its logo. The deadline to question the sale of Sberbank CZ loans to Česká spořitelna ends. The British bank is considering buying the British division of the bankrupt American bank SVB. Hindenburg: Payment company Block, now led by the ex-head of Twitter, enabled fraud. Credit Suisse shares fell by a quarter, the main investor ruled out further aid. European shares are falling significantly, Deutsche Bank loses over ten percent. Credit Suisse will borrow up to 50 billion Swiss francs from the central bank. European shares weakened sharply due to the collapse of two American banks. Survey: Nine percent of Czechs will have nothing left after paying for necessary expenses. SVB collapse may have an impact on regional US banks, some investors fear. The US banking system is safe, the US president assured. European stocks have strengthened despite the initial decline, fears about banks have eased. A Chinese company with a stake in a bankrupt US bank claims that it is operating stably. Russia's Sberbank proposes to pay out a record 565 billion rubles in dividends. The Swiss central bank will provide liquidity to Credit Suisse if necessary.. Hindenburg: Payment company Block, now led by the ex-head of Twitter, enabled fraud. Survey: Half of young Czechs perceive investing as standard money management. Small banks in the US have recorded a record drop in deposits after the SVB collapse. Expert: The collapse of the US bank SVB will not affect Czech start-ups to a greater extent. The value of global financial stocks fell by $465 billion after the collapse of SVB. Another bank, New York's Signature Bank, collapsed in the US. CBA: Mortgage volume rose 20 percent month-on-month in February, rates fell. Reuters: Credit Suisse is just buying time thanks to help from the central bank.