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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 expect June inflation to be close to May's 2.6 percent. There is time until the end of June to exchange invalid banknotes in banks. CNB: Czech households' debts to banks rose to CZK 2.293 trillion in May. Analysis: Construction companies estimate a 1.2 percent decline in construction this year. Analysts: The CNB Bank Board will continue to cut rates, the question is how significantly. Analysts: Czech industry fell the most in May since September last year. FAZ: UEFA will make a fortune from the Euro football tournament, but the German taxpayer will cry. Investor confidence in the eurozone economy is at its highest since the start of the war in Ukraine. Study: 342 companies went bankrupt in the Czech Republic in the first half of the year, four more than a year ago. CRIF: 500 entrepreneurs went bankrupt in the Czech Republic in May, the most this year. CNB: The Czech Republic's foreign debt rose by 230.6 billion to 4.853 trillion CZK in the first quarter. Analysis: Active support for employee health can bring the state 75 billion CZK. Study: Seven percent more entrepreneurs went bankrupt in the first half of the year. Germany is still at risk of a gas shortage due to extreme cold, the INES association warned. Slovakia's trade surplus was at its lowest this year in May, at 367 million euros. Survey: Almost half of Czech companies use the euro in their operations. Activity in the eurozone business sector slowed significantly in June. Analysts: May's foreign trade result fell short of market expectations. Analysts: Development of agricultural producer prices gives hope for cheaper food. Today is the last day to exchange invalid banknotes with a thin stripe in banks.

Stock exchanges: Rio Tinto's lithium mining project in Serbia does not harm nature, the company claims. Commodity prices are generally increasing on the markets this year, their index added 5.5 percent. The verification unit for extracting manganese at Chvaletic is operating continuously. Saudi Arabia has launched a secondary sale of shares in the oil company Aramco. The price of electricity on the German stock exchange exceeded 100 euros per megawatt hour.

Finance: The European Central Bank will probably lower interest rates. Banks' attitude towards the defense industry is still a complication for companies, said Hynek. Reuters: Central bankers in Central Europe are concerned about rapid wage growth. Allianz Trade: The world economy should grow by 2.8 percent this year and next. Index: Mutual funds generally continued to make money for investors in May. A third of central banks intend to increase gold reserves in the next 12 months. The Russian Central Bank recommends that companies avoid sanctions using cryptocurrencies. The Hungarian Central Bank has lowered the base interest rate to seven percent. Banks in the US have passed the Fed's stress tests, they would survive even a sharp decline in real estate. Bain Capital will buy financial software supplier Envestnet for 4.5 billion USD. The profit of Russia's Sberbank could be a record again this year, said the CFO. Index: Almost half of productive Czechs are now repaying mortgages, loans or advances. Banks provided mortgages worth CZK 24.2 billion in June, the most since March 2022. Kellnerová: I got to know PPF after my husband's death, I was more decisive last year. Commodity prices on the markets increased in the first half of the year, the index added three percent. Capgemini: The number of dollar millionaires in the Czech Republic increased last year, their wealth increased. Banks provided mortgages worth CZK 23.7 billion in May, 92 percent more year-on-year. JPMorgan Chase significantly increased its profit in the quarter, Wells Fargo's bank fell. CNB: Banks' net profit increased by 22 percent in the first quarter to CZK 25.9 billion. Analysis: Inflation in Central Europe is recovering, the Czech Republic should be 3.7 percent in 2024.