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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 crown has strengthened by about 10 percent in the five years since the end of the CNB's interventions. Dun & Bradstreet: The number of unreliable VAT payers has increased to 25,738. Olomouc scientists have developed a nanomaterial that will help reduce energy costs. Slovak industry deepened the pace of decline to 7.3 percent in March. The crown lost a percentage point in response to the appointment of the new CNB governor, Michl. The growth in loan costs is bringing back memories of the debt crisis in some EU countries. The Fed raised the base interest rate by half a percentage point, the most in 22 years. Russia paid off its debt early today to avoid insolvency. Lagarde: Cryptocurrencies are worthless, they should be regulated. One in ten households in the eurozone owns crypto assets, an ECB survey showed. BIS Bank Chief: The world may be on the threshold of a new inflationary era. Bag-making industry sews bulletproof vests instead of bags and belts during wartime. Export growth from China slowed sharply in April due to Covid-19. The US economy surprisingly fell, but domestic demand is high. Inflation in the EU rose to a record 7.8 percent, the Czech Republic has the third highest. IMF: Food crisis in sub-Saharan Africa may lead to social unrest. The British central bank raised the base interest rate, the economy is expected to decline next year. Bloomberg: The US economy could surpass China in growth this year for the first time since 1976. The Czech National Bank has legally revoked the banking license of Sberbank CZ. The capital registered in the registered capital of Czech companies fell by 0.7 percent in a year. Britain has imposed sanctions on representatives of the Russian army, including the commander from Buč. Dun & Bradstreet downgrades Czech Republic's credit rating and worsens outlook. According to the NIESR institute, Britain is facing a recession in the second half of the year. Saudi Arabian billionaire Al-Walid will sell a stake in his company to the state fund PIF. The Russian central bank has lowered the base interest rate and indicated further reductions. The Slovak central bank has warned of the vulnerability of companies in repaying loans. Inflation in Slovakia has accelerated to 11.8 percent, the highest since June 2000. Note: The CNB Council agreed that the war has changed the structure of inflationary pressures. Oman and the Czech Republic have begun negotiations on the supply of liquefied natural gas. Inflation in the US slowed to 8.3 percent in April, but is close to a 40-year high. Starting next year, it will not be necessary to know the recipient's account number to send money. Eurozone business growth slowed in May but remains strong. Australia's central bank raises interest rates for first time in more than a decade. Turkey's inflation rate in March exceeded 60 percent, the highest in 20 years.

Stock markets: Analysts: Food and industrial raw materials have risen in price by tens of percent this year. Gold prices hit a monthly high near $2,000 an ounce. Energy and food commodities have risen in price by tens of percent since the invasion.

Finance: Société Générale CEO Frédéric Oudéa will step down next year. Czech National Bank fines Czech Post half a million crowns for investment services. Former Czech National Bank Governor Tůma joins the Association of World Central Bankers. Mastercard and Nexo to jointly issue first cryptocurrency-backed payment card. IFIS fund has started buying up receivables for the Czech Sberbank. Sellers: Gold sales increased by tens of percent after the Russian invasion of Ukraine. Expert: Regulation of crowdfunding will increase interest in it by tens of percent. Port survey: 47 percent of Czechs can save no more than CZK 2,000 per month.