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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: Analysts: CNB will not let Czech currency weaken below CZK 26.00 per euro. IMF approves $1.4 billion in emergency aid to Ukraine. Analyst: World may be on the brink of an energy crisis similar to the one in the 1970s.. ZEW: Investor confidence in the German economy has fallen to a record low due to the war. Analysts: Inflation will rise further, may even exceed 12 percent. Biden: G7 will revoke Russia's most favored nation clause, US will limit imports from Russia. US inflation rose to 7.9 percent in February, another 40-year high. Kremlin: US is waging an economic war against Russia. Stock markets continue to lose, prices of oil and other commodities are rising sharply. The US foreign trade deficit widened by 9.4 pct. to a record in January. Other companies, including Philip Morris and Nestlé, are cutting back on activities in Russia. The koruna has begun to strengthen against the euro and dollar after the CNB's interventions. IMF: Russia's attack on Ukraine could fundamentally change the global economic order. The CNB has begun to intervene in the foreign exchange market against the weakening of the koruna. Japan revised its GDP growth for the 4th quarter downwards to 4.6 percent. 150,000 Ukrainian refugees have already arrived in the Czech Republic, the government wants to allow them to work. Analysts: The Polish proposal to ban trade with Russia will have a hard time passing in the EU. Fitch Ratings has confirmed Slovakia's credit rating at A. The EU will add another 160 Russians to the sanctions list, and will also punish Belarusian banks. Drawing from COVID guarantees as of February 15 increased by 600 million to 73 billion CZK month-on-month.

Stock exchanges: Half of the world's neon production for chip production has stopped in Ukraine. The price of palladium has fallen sharply due to hopes for progress in Russia-Ukraine talks. Analyst: The Ukrainian crisis may derail Musk's dream of cheaper electric cars. Volkswagen China will create joint ventures to secure nickel and cobalt. The wholesale price of gas for the European market has risen to 345 euros per MWh. Oil and gold prices continue to rise, the world is negotiating a ban on oil imports from Russia.

Finance: Russian banks are turning to the Chinese system due to the departure of Visa and Mastercard. The invasion of Russian troops in Ukraine has interrupted about a third of economic activity. 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. The World Bank has approved loans and grants to Ukraine for $723 million. Sanctions are also affecting Russian tourists who do not have enough cash on them. Russia warns that it will be forced to repay foreign debt in rubles due to sanctions. The Russian Central Bank has left the base interest rate at 20 percent. Russia has sent interest on dollar bonds as planned, is waiting for the result. The ECB will reduce bond purchases more quickly due to high inflation. The US will strengthen its military contingent in Lithuania by another 400 soldiers. Russia is at imminent risk of being unable to repay its debts, Fitch believes. Bloomberg: The EU is considering supporting Ukraine from the assets of sanctioned Russians. Chotěbori had 105 million crowns left in Sberbank, the city had them for investments. The Argentine Senate approved a new agreement with the IMF, which is supposed to avert the country's collapse. Analysts: Czech banks' share prices are falling due to anti-Russian sanctions. Reuters: Moscow and Beijing are working on how to bypass the SWIFT payment system. RTR: Some creditors have received interest payments on Russia's dollar bonds. PayPal suspends its services in Russia due to the invasion of Ukraine.