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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: Biden: G7 will abolish Russia's most-favoured-nation clause, US will limit imports from Russia. The head of the budget council Zamrazilová is also a member of the pension reform group. The Venezuelan government should receive the Nobel Prize in Economics, said its head Maduro. Stanjura: Companies could keep accounting and tax records in euros from January 2024. The koruna has strengthened by about 10 percent in the five years since the end of the CNB's interventions. Oman and the Czech Republic have started negotiations on liquefied natural gas supplies. Morawiecki: Poland proposes a complete ban on trade with Russia. Survey: Almost three-quarters of companies will feel the negative impact of the war in Ukraine. Fed officials are considering reducing the balance sheet by $95 billion per month. Fitch Ratings confirmed Slovakia's credit rating at A. Analysts: Polish proposal to ban trade with Russia in the EU will be difficult to pass. Yellen: Coronavirus relief fund will help the US withstand shocks over Ukraine. Bloomberg: Half of the 20 richest Russians do not face sanctions, four of the top five. GfK: Consumer sentiment in Germany is deteriorating due to the war in Ukraine. Morawiecki: Poland proposes a complete ban on trade with Russia. IMF: Russian attack on Ukraine could fundamentally change the global economic order. BIS head: The world may be on the verge of a new inflationary era. Analysts: Up to tens of percent of applicants will not receive a mortgage after the tightening of conditions. Inflation in the Czech Republic may rise to around 13 and 14 percent, Rusnok said. Growth in business activity in the eurozone was stronger than expected in March. The US and allies are also targeting Russian supply chains, a member of the US government said. Analysts: The slowly recovering Czech industry will be affected by the war in Ukraine. FAO: Russians spend twice as much on food as before the invasion. Olomouc scientists have developed a nanomaterial that will help reduce energy costs. Analysts: Higher rates will quickly make mortgages more expensive, deposit interest rates will rise later. Rusnok: The Czech National Bank Council is ready to continue raising rates, the priority is price stability. EU countries have approved the fourth package of sanctions against Russia, which will hit luxury and energy.

Stock exchanges: According to officials, India is considering buying discounted Russian oil and commodities. The price of palladium has fallen sharply due to hopes for progress in talks between Russia and Ukraine. Volkswagen China will create joint ventures to secure nickel and cobalt.

Finance: Russia sent interest on dollar bonds as planned, awaiting results. Reuters: Moscow and Beijing are working on how to bypass the SWIFT payment system. Germany's No. 1 bank faces criticism for staying in Russia. Russia warns that it will be forced to repay foreign debt in rubles due to sanctions. Thousands of Russians stranded in Thai resorts due to war in Ukraine. IMF: Ukraine's economy could shrink by up to 35 percent this year. Creditors are waiting to see if Russia will pay interest on dollar bonds. Orbán asks for money from the EU recovery fund to be released, citing the Ukrainian crisis as an argument. Index: Commodity funds made a profit in February, while stocks and bonds lost. S&P agency downgraded Russia's rating deeper into the junk zone. Biden proposes to increase defense spending, asks for almost 700 million USD for Ukraine. Sberbank CZ assured clients that the loan repayment schedule is still valid. Kazakhstan's central bank responded to reports of issuing payment cards to Russians. Experts: PPF is slowly leaving eastern markets a year after the death of founder Kellner. New Hypoindex: The average mortgage offer rate rose to 4.88 pct in April..