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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: The number of infected people in the world is growing, the situation in China is stabilizing. IMF economist called on governments to provide targeted support to economies. The average wage has increased to 36,144 CZK, but the pressure on growth is easing. Analysts: Importers and hotels may have problems due to the coronavirus. Bloomberg: Coronavirus could cost the world 2.7 trillion USD. Reuters: Coronavirus is hampering China's new Silk Road program. Bankers: The impacts of coronavirus on the economy are already visible. Over 100 cases of coronavirus infection appeared in Germany in a day. G7 countries are ready to support the economy if necessary. Activity in the US service sector has fallen, it is the lowest since 2013. Chamber: Quarantine for a tenth of workers would cost 23.5 billion CZK. OECD significantly worsens global economic growth outlook. Chamber: Possible quarantine measures will be a problem for the Czech economy. Unemployment fell in February, further decline is expected. Samsung closed one of its factories in Korea due to coronavirus. Over 60 percent of Japanese companies expect lower profits due to coronavirus. UBS: Financial markets underestimate the risks associated with coronavirus. Companies in the Zlín region are limiting business trips due to coronavirus. Expert: Coronavirus may reduce Czech GDP as in the currency crisis. Russian tourism industry feels the impact of coronavirus, asks for help. Year-on-year inflation is estimated to have increased in February. PwC: Czech women have improved their employment the most out of all OECD countries. Coronavirus will cost Italian tourism up to billions of euros. BBC: Chinese companies are struggling with a lack of money for wages and invoice payments. Newspapers in Britain, Germany and France are covering the spread of coronavirus.

Stock markets: Gold gained over three percent after unexpected interest rate cut in the US. The Russian Central Bank is preparing an intervention to support the currency. Gold rose above $1,700, the most expensive since 2012. The profit of the Russian miner Norilsk Nickel increased by 95 percent last year.

Finance: The bank applied for permission to operate the National Development Fund. Agency: The payment morale of Czech borrowers improved again last year. Household debts with banks rose to CZK 1.76 trillion in January. Aon and Willis will create the largest insurance broker. Companies allow employees to work from home and cancel business trips. The volume of bank loans increased by CZK 513 billion in January. Reuters: The ECB held extraordinary talks on the impacts of the coronavirus on Tuesday. Česká spořitelna's profit increased by 15.5 percent last year to 17.7 billion. The Czech National Bank fined Komerční banka two million CZK. The aggregate profit of American banks fell by 1.5 percent last year. Insurance companies: Damages after strong night winds will be lower than those of Sabine. Hypoindex: Average mortgage rate in January rose to 2.36 percent. Partners' revenue rose by a tenth last year to 1.65 billion CZK. The share of foreign investors holding Czech bonds rose. Aktuálně.cz: The Czech National Bank's website redirected to advertising. The Fed surprisingly lowered the base interest rate by half a percentage point.