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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: Other companies are cutting back on activities in Russia, including Philip Morris and Nestlé. IAB: War in Ukraine could cut Germany's GDP growth by more than half. Bloomberg: Half of the 20 richest Russians do not face sanctions, four of the top five. Survey: Almost three-quarters of companies will feel the negative impact of the war in Ukraine. Stanjura: Polish proposal to completely ban trade with Russia is unrealistic. Rusnok: CNB board ready to raise rates further, price stability is priority. CNB issued a commemorative 100-crown banknote with a portrait of economist Engliš. Hungary's central bank surprisingly raised the base interest rate to 4.40 percent. The US and allies are also targeting Russian supply chains, a member of the US government said. Analysts: Polish proposal to ban trade with Russia in EU unlikely to pass. Yellen: Coronavirus relief fund will help US weather shocks over Ukraine. Britain to ban luxury goods exports to Russia and impose new import duties. Fitch Ratings confirms Slovakia's credit rating at A. US inflation rose to 7.9 percent in February, another 40-year high. Analysts: Inflation will rise further, could exceed 12 percent. Analysts: The war in Ukraine will hit the slowly recovering Czech industry. EU adds another 160 Russians to sanctions list, punishes Belarusian banks. ECB warns cryptocurrency companies against circumventing anti-Russian sanctions. 150,000 Ukrainian refugees have already arrived in the Czech Republic, the government wants to allow them to work. Morawiecki: Poland proposes a complete ban on trade with Russia. The unemployment rate in the US fell to a new two-year low of 3.6 percent. Wednesday: The threat of stagflation, high inflation and low growth, has increased even more. Kiev: The Russian invasion has caused at least $100 billion in damage so far. Analyst: The market expects the CNB to increase the rate to five percent, the koruna's reaction will not be drastic. Morawiecki: Poland proposes a complete ban on trade with Russia.

Stock exchanges: Half of the world's production of neon for chip production has stopped in Ukraine. Volkswagen China will create joint ventures to secure nickel and cobalt. The owner of Norilsk Nickel warns against dragging Russia back to 1917.

Finance: Analysis: The mortgage boom in the Czech Republic will end this year, a third of applicants will not be able to get a loan. Reuters: Moscow and Beijing are working on how to bypass the SWIFT payment system. The number of Czechs who have established a trust fund increased by 40 percent last year. CBA: The volume of mortgages in February fell by 23 percent to CZK 25.1 billion, rates rose. The invasion of Russian troops in Ukraine has interrupted about a third of economic activity. The ECB will reduce bond purchases more quickly due to high inflation. The Kazakh Central Bank responded to reports about issuing payment cards to Russians. Index: Commodity funds made a profit in February, while equity and bond funds lost. Russia warns that it will be forced to repay foreign debt in rubles due to sanctions. Experts: PPF is slowly leaving eastern markets a year after the death of founder Kellner. Sberbank CZ assured clients that the loan repayment schedule is still valid. Orbán asks for release of money from EU recovery fund, argues with Ukrainian crisis. Russian central bank leaves key interest rate at 20 percent. Russia sends interest on dollar bonds as planned, awaits results. Sanctions also affect Russian tourists who do not have enough cash on them. ČSOB fined by CNB for failing to launch secure payments on the website in time. Regulators investigate use of crypto assets during war in Ukraine.