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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: Year-on-year inflation rose to 2.3 percent in March, will remain above two percent. The Turkish central bank has banned payments in cryptocurrencies. The Ministry of Finance sold bonds for 21 billion CZK today amid great interest. Britain is considering its own digital currency, which could be called britcoin. CNB Governor Rusnok is not afraid that the Czech Republic will be hit by an inflationary shock. According to analysts, inflation will remain around three percent in the near future. Household debts to banks increased by 13 billion CZK in April, and those of companies by 5.5 billion CZK. Prices in Czech industry accelerated growth to 5.1 percent in May. The Pardubice-based Paramo refinery ended last year with a loss of 687 million CZK. The Indian central bank discourages credit institutions from trading in cryptocurrencies. The Czech Republic's foreign trade in May ended in a surplus of 6.3 billion crowns. The economic decline in the first quarter was milder than the CNB had estimated in its forecast. Chamber: The influx of Czech investments into France is growing, the main investor is Křetínský. Quarantine in a Chinese port caused a domino effect in global trade.

Stock exchanges: The price of gold fell below $1,800 per ounce in response to the Fed meeting. The price of copper reached a record high, with a ton worth more than $10,300. According to analysts, the price of palladium may soon rise to more than $3,000. The world's third-largest diamond was apparently mined in Botswana. Russian gold miner Nordgold plans to enter the stock exchanges in Moscow and London.

Finance: ČSOB Pojišťovna achieved a record profit after tax of 1.437 billion crowns last year. Czech companies issued corporate bonds in the first quarter as in 2020. Index: The average Czech investor in funds earned 5.5 percent this year. Industrial metals rose by up to a quarter in the first half of the year, gold and silver fell in price. Index: Only equity funds made a profit in March, commodity funds fell. The Economic Committee called on the Czech National Bank to protect life insurance clients. The ECB is changing its approach to monetary policy, promising longer-term support for the economy. The Czech National Bank has increased its foreign exchange reserves in gold, the reserves amount to ten tons. The South Korean central bank wants to test the introduction of its own digital currency. According to the Czech National Bank's stress tests, the banking sector is resilient even after the pandemic. Large American banks have passed the stress test, they no longer have to limit dividends. Germany has linked blockchain technology to the euro. The volume of housing loans in April was CZK 29 billion, the second highest. Komerční banka's profit in the first quarter fell by 24.9 percent year-on-year to CZK two billion. The Czech National Bank will publish bank stress tests today and evaluate mortgage measures. Gold rose to its highest price this year today, rising by five percent in a month. Czech companies' deposits exceeded loans by CZK 99 billion in February. Entrepreneurs from COVID guarantee programs received CZK 60.7 billion as of June 30. Revolut applied for a specialized European banking license in the Czech Republic today. Tykač's Belviport increased its stake in Moneta Money Bank to over three percent. The four largest banks in the Czech Republic lost CZK one billion in profits in the first quarter. PPF wants to acquire 100 percent of the operator O2, now controls 83.58 pct.. Analysts: Gold and silver have become cheaper this year, platinum, copper and oil have become more expensive. The Japanese central bank has also submitted a climate support program. Entrepreneurs have received CZK 56.2 billion from COVID guarantee programs as of May 31. Index: The average mortgage rate returned above two percent in May.