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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 British central bank has raised the base interest rate, the economy is expected to decline next year. S&P has improved Greece's rating, the country is one notch away from the investment zone. Britain has imposed sanctions on representatives of the Russian army, including the commander from Buč. The Czech National Bank has issued a commemorative 100-crown banknote with a portrait of the national economist Engliš. ZEW: Investor confidence in the German economy has decreased less than expected. The head of the Budget Council Zamrazilová is also a member of the pension reform group. Rusnok: The Czech National Bank Council is ready to continue raising rates, the priority is price stability. Chamber: Almost half of Czech companies will curb their investments this year. The US and allies are also targeting Russian supply chains, said a member of the US government. Analysts: Higher rates will quickly make mortgages more expensive, deposit interest rates will rise later. Czech household debt to banks rose to CZK 2.087 trillion in March. The Russian central bank cut the base rate and indicated a further reduction. The crown lost a percentage point in response to the appointment of the new CNB governor Michl. Wednesday: The threat of stagflation, high inflation and low growth, has increased even more. The unemployment rate in the US fell to a new two-year low of 3.6 percent. Slovak industry deepened the pace of decline to 7.3 percent in March. The Venezuelan government should receive the Nobel Prize in Economics, said its head Maduro. The US economy has surprisingly fallen, but domestic demand is high. Analysis by Portu: Large banks are in no hurry to increase interest rates on savings accounts. Dun & Bradstreet: Number of unreliable VAT payers rises to 25,738. Turkey's inflation in March exceeded 60 percent, the highest in 20 years. Eurozone business activity growth was stronger than expected in March. ECB confirms plans to end asset purchases in the third quarter. IMF: Food crisis in sub-Saharan Africa may lead to social unrest. FAO: Russians spend twice as much on food as before the invasion. Sri Lankan stock exchange to remain closed next week. Unemployment and industry have not yet been affected by the war, 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. Inflation in the EU rose to a record 7.8 percent, the Czech Republic has the third highest. Bloomberg: Half of the 20 richest Russians do not face sanctions, four of the top five. Moravian-Silesian companies: Rate hikes may hit subcontractors. The state budget deficit rose to CZK 59.1 billion at the end of March. Survey: Almost three-quarters of companies will feel the negative impact of the war in Ukraine. British economic growth slowed to 0.8 percent in the first quarter.

Stock markets: Analysts: Food and industrial raw materials have risen in price by tens of percent this year. The price of gold has reached a monthly high of close to $2,000 per ounce.

Finance: The IMF approved a new loan agreement with Argentina worth $44 billion. New Hypoindex: Average mortgage offer rate in April rose to 4.88 pct.. Experts: PPF is slowly leaving eastern markets a year after founder Kellner's death. Biden proposed increasing defense spending, also requesting almost 700 million USD for Ukraine. Former CNB Governor Tůma became a member of the Association of World Central Bankers. Analysis: Mortgage boom in the Czech Republic ends this year, a third of applicants will not be able to get a loan. Index: The average Czech investor in funds lost almost five percent this year. Raiffeisenbank announced that it is the first bank in the Czech Republic to accept Ukrainian hryvnias. Household deposits in banks fell by 26 billion CZK month-on-month in March.