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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: MF sold bonds for CZK 73.9 billion today, interest continues. The economy is being crushed by the coronavirus, jobs are disappearing and the outlook is not good. Experts: A COVID program should be created for hotels and restaurants. Experts: The decline in confidence was expected, the numbers may improve in May. CZSO: Industrial prices slowed down year-on-year growth to 0.4 percent in March. Unemployment in Germany rose to 5.8 percent in April. The Slovak Central Bank has worsened the outlook for economic development. Bundesbank: Germany will recover slowly from the recession. The economy may fall by up to 11 percent this year, according to estimates. Fidelity: Global companies' income could decrease by 44 percent this year. The committee assessed the Ministry of Finance's economic development estimates as optimistic. Nanotechnologists want law change, criticize Honeywell plan. Reuters: Queues grow outside food banks on the outskirts of Paris. Governor: Australian economy to weaken most since 1930s. Swiss economy likely to shrink most in 45 years due to coronavirus. US states gradually ease restrictions, but infection still a threat. EY: The vast majority of businesses expect a decline in sales in April. Company bosses would give the country's post-November development a worse two. There is interest in new lung ventilators in a number of countries, said the company MICo. Ministry of Finance proposes exempting spilled beer from excise duty.

Stock exchanges: The price of gold in euros has exceeded 1,600 euros for the first time. Analysts: Unprecedented drop in oil prices, will stabilize in the summer. Diamo is preparing a project to explore a gold deposit in the Jesenické region.

Finance: Erste's profit fell by 38 percent in the first quarter due to coronavirus. UBS bank increased its profit by 40 percent thanks to its asset management division. Large companies are calling for the rapid launch of programs to support them. ČS: Payments in quarantine fell by a fifth, consumption by up to 15 percent. The ECB will also start accepting lower-quality bonds as collateral due to the virus. The Japanese central bank is introducing massive support measures. The ECB has improved the conditions of the cheap loan program for banks. Household debts with banks increased by seven billion in March. Index: The average price of compulsory insurance did not change in March. The Czech Republic should now focus on returning to normal life, says Dušek. MasterCard's net profit fell by seven percent, but it exceeded estimates. The Russian Central Bank has cut interest rates, expecting a GDP decline of up to 6 percent. The Czech Export Bank is looking for a new board member. Deputy Governor of the CNB: The Czech Republic has the advantage of not being part of the eurozone. AKAT: Mutual funds have retained investor trust during the pandemic. Banks will join smart quarantine at the beginning of next week. CBA: The crisis will mainly affect the service sector, a quick response is needed. Hypoindex: The average mortgage rate in March rose to 2.45 percent. ČS, KB, ČSOB and Moneta will join smart quarantine first. The Chinese Central Bank has lowered the base interest rate. Michl will propose to the central bank to reduce the rate to 0.5 percent. IPS: The fortune of billionaires in the US increased by 10 percent during the pandemic.