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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: Industry was not in shape even before the pandemic, a slump is coming. Bernanke: US economy may fall by 30 percent in the quarter. VŠE academics propose tax changes due to the pandemic. Czech measures for commuters cause problems for companies in Bavaria. Analysts: Construction in February was mainly helped by warm weather. Conditions in the manufacturing industry worsened the most in 10 years. Analysts: The economy could benefit from earlier implementation of measures. Coronavirus in Africa threatens many people's livelihoods. Survey: Companies plan to reduce spending on technology this year. Spain has 100,000 infected, in the US there may be up to 240,000 victims. According to most analysts, year-on-year inflation fell in March. The number of purchases via EET increased by 12 percent during the weeks of quarantine. Reuters: Letter soup, or what a post-virus recovery could look like. Unemployment is rising in the US due to coronavirus, and Europe is also having problems. Industry was already declining before the virus, construction and trade were doing well in February. Morgan Stanley: The US economy will fall the most this year since 1946. Real estate companies: Interest in real estate has fallen by up to tens of percent. The Moravian-Silesian Tax Office must examine the procedures of subordinates. Bloomberg: The nightmare of the founders of the euro may materialize in Italy. Unions: Construction work should continue without interruption if possible. Italy expects a crushing collapse in industry. According to experts, Poland expects a sharp increase in unemployment. Survey: 82 percent of construction workers have financial losses due to coronavirus. Survey: 72% of developers have financial losses due to coronavirus. Union: Companies lack protective equipment for normal activities. A sawmill for processing coniferous wood has been put into operation in Štětí. The EC apologized to Italy for its lack of solidarity in the coronavirus crisis. The Financial Administration has collected 1.4 million tax returns so far. Study: Coronavirus will significantly increase the number of corporate bankruptcies.

Finance: Czechs have already given millions to help due to coronavirus through crowdfunding. ADB: The costs of the pandemic may reach the world up to 4.1 trillion USD. Powell: The Fed will continue to act forcefully, actively and aggressively. Banks are waiting for regulators to comment on smart quarantine. S&P downgraded Renault's rating to speculative grade. Fitch worsened the outlook for Česká spořitelna and Komerční banka due to the virus. According to UniCredit Bank estimates, the economy will decline by 11 percent this year. CBA: The Czech National Bank's easing of mortgage limits is an effort to revive the market. IMF: Coronavirus has a worse impact on the economy than the financial crisis. The Polish central bank has reduced the base interest rate to half a percent. The Italian government has approved aid to companies worth 400 billion euros. At the CNB meeting, there were considerations to reduce rates by only 0.5 points. The price of gold is today the most expensive in history in korunas. Iannaccone is the vice chairman of the board of directors of UniCredit Bank in the Czech Republic. Analysts: Banks have not yet changed the interest rates on savings accounts or mortgages. Moore: Up to a fifth of companies face problems with bond repayments.