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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. Inflation in Slovakia has accelerated to 11.8 percent, the highest since June 2000. The British central bank has raised the base interest rate, the economy is expected to contract next year. The Czech National Bank has imposed a fine of CZK 2.5 million on the credit company Acema Credit Czech. Analyst: The market is expecting the Czech National Bank to raise the rate to five percent, the crown's reaction will not be drastic. Russia paid off its debt early today to avoid insolvency. Analysts: Higher rates will quickly make mortgages more expensive, deposit interest rates will rise later. The Czech Trade Union supports voluntary EET, if it is clear what bonuses it will bring. Bloomberg: Half of the 20 richest Russians do not face sanctions, four of the top five. Analysis by Portu: Large banks are in no hurry to increase interest rates on savings accounts. Aleš Michl will be the new governor of the Czech National Bank from July, he wants rate stability. Inflation in Turkey exceeded 60 percent in March, the highest in 20 years. Analysts: Inflation will rise to 15 percent, so the Czech National Bank will probably raise rates. Dun & Bradstreet: The number of unreliable VAT payers has risen to 25,738. The unemployment rate in the US has fallen to a new two-year low of 3.6 percent. Olomouc scientists have developed a nanomaterial that will help reduce energy costs. The Czech National Bank Council decided today to intervene in the foreign exchange market against the weakening of the crown. Inflation in the US slowed to 8.3 percent in April, but is close to a 40-year high. Bloomberg: The US economy could outpace China's growth this year for the first time since 1976. The Sri Lankan stock exchange will remain closed next week. The Czech National Bank (CNB) has raised its key interest rate to five percent, the highest since 2001. Czech household debt to banks rose to CZK 2.087 trillion in March. Rusnok: The Czech National Bank (CNB) is ready to continue raising rates, with price stability as a priority. The Czech crown lost a percentage point in response to the appointment of the new CNB governor, Michl. IIF: Global debt rose to a record USD 305 trillion in the first quarter. Slovak industry deepened its decline to 7.3 percent in March. The war has not yet had an impact on unemployment and industry, but uncertainty dominates the market. Inflation in the EU has risen to a record 7.8 percent, with the Czech Republic having the third highest rate. The head of the Budget Council, Zamrazilová, is also a member of the pension reform group. Note: The CNB Council agreed that the war changed the structure of inflationary pressures. Analysis: Inflation in Europe will peak in the second quarter. Business sentiment in Germany has stabilized after the March slump. The Australian central bank raised interest rates for the first time in more than a decade. Rusnok: If developments confirm the CNB's estimates, rates will probably rise in June. Fed officials are considering reducing the balance sheet by $95 billion per month.

Stock exchanges: Analysts: Food and industrial raw materials have risen in price by tens of percent this year. Demand for silver rose last year to the highest level since 2015 and will continue to grow this year.

Finance: Mastercard and Nexo to jointly issue first cryptocurrency-backed payment card. SMBC to become second-largest aircraft lessor by acquiring rival Goshawk. Kazakhstan's central bank responds to reports of issuing payment cards to Russians. Former Czech National Bank Governor Tuma joins global central bankers' association. Czech National Bank: Mortgage volume halved in March to CZK 30.3 billion, rates rise. Czech National Bank to open new visitor center on May 21. Expert: Crowdfunding regulation will boost interest in crowdfunding by tens of percent. Raiffeisenbank announced it is the first bank in the Czech Republic to accept Ukrainian hryvnias.