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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: Retailers' sales in January were solid, a drop is expected. Bavaria banned events for more than 1,000 people due to coronavirus. The number of infected people in the world is growing, the situation in China is stabilizing. Activity in the Chinese service sector fell to a record low in February. Reuters: Chinese companies are also threatened by the coronavirus in Japan and Korea. The Czech National Bank does not rule out a rate cut due to the coronavirus, the infection will affect GDP. The growth of the British economy unexpectedly stopped in January. The OECD significantly worsened the outlook for global economic growth. China remains Germany's largest trading partner, the Czech Republic is tenth. Agricultural profit last year was CZK 17.5 billion, production was a record. Moravian-Silesian companies are trying to accommodate employees with children. Dlouhý: Companies could lose tens of billions of CZK due to coronavirus. Unemployment fell in February, the decline is expected to continue. Producer prices in the US fell the most in five years. Bloomberg: The global economy is gripped by a rare double shock. The Japanese economy declined at a rate of 7.1 percent at the end of the year. Analysts: The negative impact of coronavirus on the economy is intensifying. Italian restaurants are reducing the number of guests due to quarantine. CNBC: The Eurozone faces a decade of negligible growth at best. The Russian tourism industry is feeling the effects of coronavirus, asking for help. Over 100 cases of coronavirus infection appeared in Germany in a day. Cross-border mergers of companies in the Czech Republic are increasing, last year there were 48. Companies in the Zlín region are registering quarantines, it does not affect operations. Analysts: Inflation will remain high, but then it will fall faster. Prices accelerated growth to 3.7 percent in February, it could be the peak.

Stock markets: Gold added over three percent after an unexpected interest rate cut in the US. The price of oil fell by 30 percent, the most since 1991. Industrial metal prices are falling significantly due to coronavirus fears. Palladium fell by up to 28 percent due to coronavirus, gold by four percent.

Finance: The Fed surprisingly lowered the base interest rate by half a percentage point. Rusnok: Changing the CNB rates is not a very effective tool right now. Zárúční banka has published a preliminary call for a COVID Loan. American Geoffrey Okamoto will be the deputy head of the IMF. Banks will allow clients affected by coronavirus to postpone loan repayments. ČSSD wants help for people who will lose their income due to coronavirus. CRIF: Total debt of the Czech Republic's population increased by 5.8 pct. to 2.45 trillion. The four largest banks' net profit increased to 62 billion last year. Banks will allow loan repayment deferrals for clients affected by coronavirus. The share of foreign investors holding Czech bonds has increased. The ECB is introducing new stimulus measures, but has not changed interest rates. Banks will allow loan repayment deferrals for clients affected by coronavirus. The Czech National Bank will monitor the financial problems of self-employed people due to coronavirus. The government will discuss support for businesses due to coronavirus for 600 million. China reduces banks' required reserves, thus freeing up 550 billion yuan. People in the Hradec Králové region most often take out housing loans.