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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: Inflation in the EU reached a record 7.8 percent, the Czech Republic has the third highest. The Czech National Bank intervened today against the weakening of the crown, which strengthened below CZK 25 per euro. Oman and the Czech Republic began negotiations on the supply of liquefied natural gas. The Sri Lankan stock exchange will remain closed next week. BIS bank chief: The world may be on the threshold of a new inflationary era. Note: The CNB Council agreed that the war changed the structure of inflationary pressures. The CNB issued a commemorative 100-crown banknote with a portrait of the national economist Engliš. Dun & Bradstreet: The number of unreliable VAT payers has risen to 25,738. The head of the Budget Council Zamrazilová is also a member of the pension reform group. Moravian-Silesian companies: Rate increases may affect subcontractors. The state budget deficit rose to CZK 59.1 billion at the end of March. List News: Aleš Michl is to be the new CNB governor after Rusnok. Analysis: Inflation in Europe will peak in the second quarter. Slovak industry deepened the pace of decline to 7.3 percent in March. The CNB Council decided today to intervene in the foreign exchange market against the weakening of the koruna. Olomouc scientists have developed a nanomaterial that will help reduce energy costs. Business sentiment in Germany has stabilized after the March slump. The US economy has surprisingly fallen, but domestic demand is high. The koruna has lost a percentage in response to the appointment of Michl, the new CNB governor. The CNB Council raised the base interest rate to five percent, the highest since 2001. According to Buffett, the best protection against inflation is to be exceptionally good at something. ZEW: Investor confidence in the German economy has fallen less than expected. Fiala wants price stability, other politicians point out Michl's connection to Babiš. Inflation in Slovakia has accelerated to 11.8 percent, the highest since June 2000. ECB confirmed plans to end asset purchases in the third quarter. The war has not yet had an impact on unemployment and industry, but uncertainty dominates the market. The rise in borrowing costs is bringing back memories of the debt crisis in some EU countries. The US and its allies are also targeting Russian supply chains, said a member of the US government. According to economists, Michl's appointment as CNB governor may indicate more significant changes. Export growth from China slowed sharply in April due to Covid-19. The British central bank raised the base interest rate, the economy is expected to decline next year. IIF: Global debt rose to a record $305 trillion in the first quarter. Analysis by Portu: Large banks are in no hurry to increase interest rates on savings accounts. The Trade Union supports voluntary EET, if it is clear what bonuses it will bring. Analysts: Inflation will rise to 15 percent, the Czech National Bank will probably raise rates.

Stock exchanges: The coronavirus has deprived Jablonec glass and jewelry manufacturers of half of their sales. The price of gold has risen to a monthly maximum of close to $2,000 per ounce.

Finance: New Hypoindex: The average mortgage offer rate in April rose to 4.88 pct.. Port survey: 47 percent of Czechs can save no more than CZK 2,000 per month. Household deposits in banks fell by CZK 26 billion month-on-month in March. Analysts: Gold rose by six percent this year, silver by seven percent. Sellers: Gold sales increased by tens of percent after the Russian invasion of Ukraine. Index: The average Czech investor in funds lost almost five percent this year. SMBC will become the second largest aircraft lessor by taking over rival Goshawk. Mastercard and Nexo will jointly issue the first payment card backed by cryptocurrencies.