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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 Czech National Bank today left the credit market protection rate unchanged. The head of Exxon criticized the EU's energy policy, saying it went too far. According to the head of the central bank, Greece's rating will soon return to the investment band. Investor confidence in the eurozone economy fell for the first time in five months in March. Lagarde: The ECB will take decisive action to push inflation back to two percent. The Chinese prime minister said that it would be difficult to achieve GDP growth of around five percent. The EU should produce more green technologies and key raw materials, the EC proposed. According to a survey, the growth of business activity in the eurozone unexpectedly accelerated in March. The situation of European banks is stable, EU leaders agree after the summit. The Fed raised the base interest rate by a quarter of a percentage point, as expected. Zamrazilová: If the CNB predicts a 10 percent wage increase, there is a risk of tightening monetary policy. EU countries have agreed on the principles of returning to fiscal rules, but not on the details. The Swiss Central Bank has raised interest rates, despite the crisis surrounding Credit Suisse. The MEPs' priority for the next EU summit is the competitiveness of the economy. The new member of the NRB board of directors will be former CNB vice-governor Nidetzký. The coronavirus and the energy crisis have increased interest in Elmarco's Nanospiders. A school in Železný Brod has acquired a nanofiber machine thanks to a partnership with Elmarco. David Havlíček has become the chairman of the board of directors of the state-owned EGAP.

Stock exchanges: 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: Flagstar Bank to take over deposits and loans from bankrupt Signature Bank. The British bank is considering buying the British division of the bankrupt American bank SVB. Credit Suisse shares fell by a quarter, the main investor ruled out further aid. American stocks closed mixed, banks weakened. Swiss bank UBS to take over rival Credit Suisse for three billion francs. Russian bank Tinkoff canceled interest payments on Eurobonds due to sanctions. European stocks are falling sharply, Deutsche Bank loses more than ten percent. CNBC: SVB is discussing a sale because efforts to raise capital have failed. Hindenburg: Payments firm Block, now led by the ex-CEO of Twitter, enabled fraud. Media: UBS is likely to buy rival Credit Suisse for more than two billion USD. Chinese real estate firm Evergrande plans to restructure debt abroad. Swiss bank Credit Suisse has found serious shortcomings in its statements. Survey: Nine percent of Czechs will have nothing left after paying their essential expenses. Expert: The collapse of the American bank SVB will not affect Czech start-ups to a greater extent. The deadline to challenge the sale of Sberbank CZ loans to Česká spořitelna ends. Bloomberg: Banks are lifting bans on hiring employees, they want talent from Credit Suisse. Hindenburg: Payment company Block, now led by the ex-head of Twitter, enabled fraud. Credit Suisse shares fell by 30 percent, the main investor ruled out further aid. European bank shares are weakening sharply, the takeover of Credit Suisse did not calm the markets. Negotiations to rescue Credit Suisse are dragging on, and the nationalization of the bank is also at stake. Another bank, New York's Signature Bank, has closed in the US. The collapse of two American banks has only a limited impact in the EU, the European Commissioner said. European stocks firmed despite initial decline, as fears about banks eased. More banks, especially small ones, will fail within two years, says Man Group fund chief Credit Suisse to borrow up to 50 billion Swiss francs from central bank.