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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 average wage in the Czech Republic reached 40,353 crowns last year, falling in real terms. The Czech economy entered recession in the fourth quarter of last year. EU countries agreed on the principles of returning to fiscal rules, but not on the details. According to the spokesperson, the Czech National Bank does not work with materials of the highest level of secrecy. The Russian Central Bank will extend the validity of restrictions on capital movements. Despite turbulent markets, the ECB raised its base rates by half a percentage point. The inflation rate in Argentina exceeded 100 percent for the first time since the early 1990s. Inflation in the US slowed to six percent in February, the lowest since September 2021. Survey: 83 percent of Czech households are concerned about inflation. Bartoš: We must accelerate the equalization of regions and not be dependent on EU subsidies. The head of Exxon criticized the EU's energy policy, saying it went too far. The Czech Republic was among the EU countries with the highest inflation in February, according to the analysis. The New Zealand central bank raised the base interest rate to a 14-year high. CNB: There are no banks operating in the Czech Republic with a similar model to those that failed in the US. According to the head of the central bank, Greece's rating will soon return to investment grade. The growth of the Canadian economy surprisingly stopped at the end of last year. The EU should produce more green technologies and key raw materials, the EC proposed. PwC: Czech companies primarily need a predictable environment from the government. Almost half of companies in the Czech Republic invest a fifth of their investments in digitalization. Companies convicted of insurance fraud will probably not have access to contracts. EBRD: Forecasts of early interest rate cuts in Central Europe are optimistic. Hampl: High inflation is more reflected in budget expenditures than in budget revenues. Inflation in France and Spain has surprisingly increased, further interest rate increases are expected.

Stock exchanges: The price of gold has risen above 1,900 USD per ounce due to problems in the banking sector. UBS: China could control a third of the lithium market by 2025.

Finance: ČBA: Mortgage volume in February increased by 20 percent month-on-month, rates fell. The collapse of two American banks has only a limited impact in the EU, said the European Commissioner. Credit Suisse shares fell by 30 percent, the main investor ruled out further aid. Revolut increased its sales by 33 percent last year, and the year before that it was profitable for the first time. Moody's: European banking systems remain in good shape. Bloomberg: Credit Suisse and those crazy, rich and anxious Asians. Credit Suisse shares fell by a quarter, the main investor ruled out further aid. Credit Suisse will borrow up to 50 billion Swiss francs from the central bank. The guarantee system paid out 98 percent of compensation to 87,000 Sberbank clients in the year. The number of payment cards in the Czech Republic fell by 77,000 year-on-year to 14.02 million. The collapse of SVB may have an impact on regional US banks, some investors fear. The American SVB has gone bankrupt, it is the largest bank collapse in the US since 2008. The Swiss central bank will provide Credit Suisse with liquidity if necessary.. Reuters: Credit Suisse is just buying time thanks to help from the central bank. The collapse of two American banks has caused tension in financial markets. CNBC: SVB is in talks to sell itself as efforts to raise capital have failed. CBA: Mortgage volume in February rose 20 percent month-on-month, rates fell. British bank considering buying the British division of the bankrupt American bank SVB. Survey: Apartment sales fell by more than half last year. Police: Fake bankers force callers to take out loans and deposit money in a bitcoin wallet.