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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: Consumer confidence in the US has fallen to its lowest level in almost 11 years. Sri Lanka will give state employees an extra day off so they can grow food. The Czech National Bank intervened today against the weakening of the crown, which strengthened below CZK 25 per euro. The Australian central bank raised interest rates by 0.5 pct. point, the most in 22 years. Drink less tea, the Pakistani government, which is dealing with the economic crisis, urged citizens. The Norwegian central bank surprisingly raised the base interest rate to 1.25 percent. The crown strengthened slightly today after the appointment of three new members of the Czech National Bank Board. The Czech National Bank Board decided today to intervene in the foreign exchange market against the weakening of the crown. The ECB will accelerate work on a mechanism that will reduce differences in bond yields. The Czech National Bank left mortgage limits and the credit market protection rate unchanged. Rusnok: If developments confirm the Czech National Bank's estimates, rates will probably rise in June. The growth of business activity in the eurozone slowed in May, but remains strong. Analysis: The negative real yield on bank deposits will not be changed even by the increase in Czech National Bank rates. The economy grew by 4.8 percent in the first quarter, the rest of the year will be worse. Dun & Bradstreet: In most countries of the world, corporate bankruptcies decreased last year. The Slovak Central Bank has worsened its estimate of economic growth, expecting higher inflation. Union: The current crisis can strengthen Europe, it should not disrupt functioning systems. The volume of debt collection agencies fell by 150 million last year to 21.05 billion CZK. May inflation was 1.1 percentage points higher than the Czech National Bank estimated. The rise in borrowing costs is bringing back memories of the debt crisis in some EU countries. The ECB will end asset purchases at the end of June, leaving the base rate at zero for now. Bloomberg: The US economy could outgrow China's growth this year for the first time since 1976. Business activity in the eurozone has deteriorated sharply due to inflation. Lagarde: Cryptocurrencies are worthless, they should be regulated. The Czech National Bank is examining the Ministry of Finance's announcement of a proposal to pay a higher dividend for ČEZ shares. Shares in Budapest are falling after the announcement of an extraordinary tax, especially banks. Study: Britain is becoming a more closed economy due to Brexit. British economic growth slowed to 0.8 percent in the first quarter. Manufacturers: Battery and hydrogen trains are the future on non-electrified lines. One in ten households in the eurozone owns crypto assets, an ECB survey showed. G7 countries move to ban gold imports from Russia, EU may join in. According to the NIESR institute, Britain faces a recession in the second half of the year. The Hungarian Central Bank has raised the base interest rate to 5.9 percent. The Czech National Bank Council may, according to estimates, raise the base interest rate to up to seven percent. The crown lost a percentage point in response to the appointment of the new CNB Governor Michl.

Stock exchanges: Russia's share in the largest platinum project in Zimbabwe is deterring investors. Energy and food commodities have risen in price by tens of percent since the invasion.

Finance: List News: Tykač has the CNB's approval to increase his stake in Moneta to 20 percent. BNP Paribas will hire around 7,000 people in France, with 148,000 in Europe. People from banks and technology companies are more likely to leave for fintech start-ups. Sellers: Gold sales increased by tens of percent after the Russian invasion of Ukraine. List of News: The court unblocked Janoušek and Pašek's assets worth CZK 145 million. French bank BNP Paribas is interested in Dutch ABN Amro, writes Reuters. Kooperativa and Česká podnikatelská pojišťovna became the insurance companies of the year. SMBC will become the second largest aircraft lessor by taking over rival Goshawk.