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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: Oman and the Czech Republic have started negotiations on the supply of liquefied natural gas. The Czech National Bank Council decided today to intervene in the foreign exchange market against the weakening of the crown. S&P improved Greece's rating, the country is one notch away from the investment grade. Note: The Czech National Bank Council agreed that the war changed the structure of inflationary pressures. The economy grew by 4.8 percent in the first quarter, the rest of the year will be worse. The Czech National Bank intervened today against the weakening of the crown, which strengthened below CZK 25 per euro. Fiala wants price stability, other politicians point out Michl's connection to Babiš. The Australian central bank raised interest rates for the first time in more than a decade. The Fed raised the base rate by half a percentage point, the most in 22 years. From next year, it will not be necessary to know the recipient's account number to send money. Hungary's central bank raises key interest rate to 5.9 percent. ZEW: Investor confidence in German economy falls less than expected. Eurozone business growth slows in May, but remains strong. Fed officials consider reducing balance sheet by $95 billion per month. According to Buffett, the best protection against inflation is to be exceptionally good at something. Inflation in Slovakia has accelerated to 11.8 percent, the highest since June 2000. Union: The current crisis can strengthen Europe, it should not disrupt functioning systems. Business sentiment in Germany has stabilized after the March slump. UK economic growth slowed to 0.8 percent in the first quarter. The UK central bank has raised its key interest rate, and the economy is expected to contract next year. According to economists, Michl's appointment as CNB governor may indicate more significant changes. IMF: Food crisis in sub-Saharan Africa may lead to social unrest. Consumer confidence in the US has fallen to its lowest level in almost 11 years. Rusnok: If developments confirm CNB estimates, rates will probably rise in June. Lagarde: Cryptocurrencies are worthless, they should be regulated. The Trade Union supports voluntary EET, if it is clear what bonuses it will bring. Moravian-Silesian companies: Rate increases may affect subcontractors. Analysts: Inflation will rise to 15 percent, so the CNB will probably raise rates. The Sri Lankan stock exchange will remain closed next week. The eurozone inflation rate rose to a record 8.1 percent in May. The CNB has legally revoked the banking license of Sberbank CZ. The head of the Budget Council, Zamrazilová, is also a member of the pension reform group. The war has not yet had an impact on unemployment and industry, but uncertainty dominates the market. Analysts: The origin of inflation dates back to before the pandemic, in addition to interest rates, the exchange rate can be used against it.

Stock exchanges: Energy and food commodities have risen in price by tens of percent since the invasion. Demand for silver rose last year to the highest level since 2015 and will continue to grow this year. The deposits that ČEZ must deposit on the stock exchange reached 100 billion crowns in March.

Finance: The Czech Post Office was fined half a million crowns by the Czech National Bank for investment services. Index: The average Czech investor in funds lost almost five percent this year. The IFIS fund began buying up receivables from the Czech Sberbank. The Czech National Bank will open a new visitor center on May 21. Société Générale CEO Frédéric Oudéa will step down next year. BNP Paribas will hire around 7,000 people in France, with 148,000 in Europe. Kooperativa and Česká podnikatelská pojišťovna were named Insurance Companies of the Year. Household deposits in banks fell by CZK 26 billion month-on-month in March.