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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 president will appoint new members of the bank board today, the names have not been published yet. The Hungarian central bank unexpectedly raised the base interest rate to 7.75 percent. Sri Lanka will give state employees an extra day off so they can grow food. UBS: The eurozone is heading towards stagflation, economic growth will almost stop this year. The volume of debt collection agencies fell by 150 million to 21.05 billion CZK last year. UN: Rising living costs are throwing millions of people into extreme poverty. The new CNB bank board met for the first time and divided its powers. The crown strengthened slightly today after the appointment of three new members of the CNB bank board. Analysts: The CNB used 86 billion CZK from its foreign exchange reserves to defend the crown in May. The Czech National Bank is reviewing the Ministry of Finance's announcement of a proposal to pay a higher dividend for CEZ shares. The Slovak Central Bank has worsened its economic growth forecast, expecting higher inflation. About 3,000 businesses have already failed in Poland this year, the most in five years. Global corporate debt has fallen for the first time in eight years. G7 countries are moving towards a ban on gold imports from Russia, the EU may also join. Three-quarters of young Lebanese want to go abroad, most do not intend to return. The ECB wants to favor green companies when purchasing corporate bonds. Powell: The Fed will not let the US economy slip into a higher inflation regime. The ECB will accelerate work on a mechanism that will reduce differences in bond yields. The Czech National Bank has left the limits for providing mortgages unchanged. Inflation in the US unexpectedly accelerated to 8.6 percent in May, the highest since 1981. The Polish central bank raised the base interest rate to six percent. The Hungarian central bank raised the base interest rate to 5.9 percent. The G7 summit stood by Ukraine and is preparing further anti-Russian sanctions. Commodity prices are rising, food prices have increased by tens of percent this year, oil by half. The Polish central bank raised the base interest rate to 6.5 percent. The economy grew by 4.8 percent in the first quarter, the rest of the year will be worse. Australia raised the main interest rate by half a percentage point. Germany reported a foreign trade deficit for the first time since 1991 in May. Study: In the Czech Republic, bankruptcies of companies and entrepreneurs decreased in the first half of the year. Komerční banka was fined CZK 7.5 million by the CNB for violating mortgage rules. The inflation rate in the eurozone in May reached a record 8.1 percent. In the Czech Republic, 51 bankruptcies were declared in May, seven fewer than in April. According to the association, including heating plants in the sectoral tax would jeopardize their modernization. Scholz: The EU will decide on the ban on the import of Russian gold, participation in the G20 is open. Older banknotes expired today, they can be exchanged. G7 countries want further sanctions against Russia, they may affect gold and energy prices. The IMF will probably further worsen the outlook for global growth for this year next month.

Stock markets: Gazprom will not pay dividends for the first time since 1998, the company's shares have weakened sharply. Russia's stake in the largest platinum project in Zimbabwe is deterring investors.

Finance: People from banks and technology companies are more likely to leave for fintech start-ups. Seznam News: The court unblocked Janoušek and Pašek's assets worth CZK 145 million. Seznam News: Tykač has the consent of the Czech National Bank to increase his stake in Moneta to 20 percent. PayPal will allow the transfer of cryptocurrencies to external wallets. The number of dollar millionaires in the Czech Republic increased by 6.9 percent last year to 32,200. Index: The average Czech investor in funds lost 11.6 percent in the first half of the year.