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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: Czech households' debts to banks rose to CZK 2.087 trillion in March. The head of the Budget Council Zamrazilová is also a member of the pension reform group. The Slovak Central Bank has significantly worsened the country's economic growth outlook. Slovak industry deepened the pace of decline to 7.3 percent in March. Note: The CNB Council agreed that the war changed the structure of inflationary pressures. BIS Bank Chief: The world may be on the threshold of a new inflationary era. Fiala wants price stability, other politicians point out Michl's connection to Babiš. The British central bank has increased the base interest rate, expecting an economic downturn next year. The capital registered in the registered capital of Czech companies fell by 0.7 percent in the year. Inflation in Slovakia accelerated to 11.8 percent, the highest since June 2000. Chamber of Commerce: Almost half of Czech companies will curb their investments this year. Analysis by Portu: Large banks are in no hurry to increase interest rates on savings accounts. Inflation in Turkey exceeded 60 percent in March, the highest in 20 years. Inflation in the US slowed to 8.3 percent in April, but is close to a 40-year high. Business sentiment in Germany has stabilized after the March slump. The CNB Council decided today to intervene in the foreign exchange market against the weakening of the koruna. The war has not yet had an impact on unemployment and industry, but uncertainty dominates the market. Oman and the Czech Republic have started negotiations on supplies of liquefied natural gas. IMF: Food crisis in sub-Saharan Africa may lead to social unrest. Aleš Michl will be the new governor of the CNB from July, he wants rate stability. The Trade Union supports voluntary work at EET, if it is clear what bonuses it will bring. Survey: Almost three quarters of companies will feel the negative impact of the war in Ukraine. The increase in loan costs is bringing back memories of the debt crisis in some EU countries. According to Buffett, the best protection against inflation is to be exceptionally good at something. Consulting firm Dun & Bradstreet downgraded the Czech Republic's rating and worsened the outlook. British economic growth slowed to 0.8 percent in the first quarter. The Fed raised the base interest rate by half a percentage point, the most in 22 years. GfK: Consumer sentiment in Germany is deteriorating due to the war in Ukraine. The Russian central bank lowered the base interest rate and indicated a further reduction. The ECB confirmed plans to end asset purchases in the third quarter. ZEW: Investor confidence in the German economy fell less than expected. Export growth from China slowed sharply in April due to Covid-19. Analysis: Inflation in Europe will peak in the second quarter. The state budget deficit rose to CZK 59.1 billion at the end of March.

Stock exchanges: The deposits that ČEZ must deposit on the stock exchange reached CZK 100 billion in March. Demand for silver rose last year to the highest level since 2015 and will continue to grow this year. The coronavirus has deprived Jablonec glass and jewelry manufacturers of half of their sales.

Finance: ČBA: The volume of mortgages in March fell by half to CZK 30.3 billion, rates rose. Former CNB Governor Tůma became a member of the Association of World Central Bankers. ČNB to open new visitor center on May 21. Kazakhstan's central bank responds to reports of issuing payment cards to Russians. Experts: PPF is slowly leaving eastern markets a year after founder Kellner's death. New Hypoindex: Average mortgage offer rate rose to 4.88 pct in April. Mastercard and Nexo to jointly issue first payment card backed by cryptocurrencies. IFIS fund starts buying up receivables from Czech Sberbank.