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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: Morawiecki: Poland proposes a complete ban on trade with Russia. The koruna has strengthened by about 10 percent in the five years since the end of the CNB's interventions. China wants to stimulate its economy by reducing taxes and other levies. IMF: Russia's attack on Ukraine could fundamentally change the global economic order. Rusnok: The CNB Council is ready to continue raising rates, the priority is price stability. Analysts: Up to tens of percent of applicants will not receive a mortgage after the conditions are tightened. Biden: G7 will cancel Russia's most-favoured-nation clause, the US will limit imports from Russia. The Venezuelan government should receive the Nobel Prize in Economics, said its head Maduro. The head of the Budget Council, Zamrazilová, is also a member of the pension reform group. The Czech National Bank has issued a commemorative 100-crown banknote with a portrait of economist Engliš. The US and allies are also targeting Russian supply chains, a member of the US government said. Analysts: Higher rates will quickly make mortgages more expensive, deposit interest rates will rise later. Drawing from COVID guarantees as of February 15 increased by 600 million to 73 billion CZK month-on-month. Středula: The threat of stagflation, high inflation and low growth, has increased even more. Yellen: The coronavirus aid fund will help the US withstand shocks due to Ukraine. NYT: The Sri Lankan economy has hit rock bottom, the president is under pressure. ZEW: Investor confidence in the German economy has fallen to a record low due to the war. Inflation in the Czech Republic may rise to around 13 and 14 percent, Rusnok said. Britain to ban luxury goods exports to Russia and impose new import duties. Turkey's inflation in March exceeded 60 percent, the highest in 20 years. ECB warns cryptocurrency companies against circumventing anti-Russian sanctions. Fed officials consider reducing balance sheet by $95 billion per month. The unemployment rate in the US has fallen to a new two-year low of 3.6 percent. Older banknotes will expire at the end of June, after which they will be possible to exchange. The Czech Republic's foreign debt rose by 150.3 billion to 4.47 trillion crowns last year. IAB: The war in Ukraine could reduce Germany's GDP growth by more than half.

Stock markets: Norilsk Nickel owner warns against dragging Russia back to 1917. Wholesale gas price for the European market fell by 70 percent in a week. Palladium price fell sharply due to hopes for progress in Russia-Ukraine talks.

Finance: Germany's leading bank announced it was withdrawing from Russia after criticism. IMF approved a new loan agreement with Argentina worth $44 billion. The number of Czechs who established a trust fund increased by 40 percent last year. Analysts: Gold rose by six percent this year, silver by seven percent. Japan's central bank did not raise interest rates, warns of the impact of the war in Ukraine. Russia warns that it will be forced to repay foreign debt in rubles due to sanctions. Russia's central bank leaves key interest rate unchanged at 20 percent. Regulators investigate use of crypto assets during Ukraine war. Germany's No. 1 bank faces criticism for staying in Russia. Russian invasion of Ukraine has disrupted about a third of economic activity. S&P downgrades Russia's credit rating deeper into junk zone. Sberbank CZ assures clients that loan repayment schedule is still valid. Russia sends interest on dollar bonds as planned, awaits results. Index: Commodity funds made money in February, while stocks and bonds lost money. Argentina's Senate approves new IMF deal to avert country's collapse. Russia sends interest on dollar bonds as planned, awaits results.