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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: Fiala: The CNB is responsible for inflation, its governor should not blame the government. Havlíček (ANO): The government is also responsible for inflation, it did not use fiscal tools. Negotiations on averting US insolvency are stalling, the continuation is uncertain. S&P left Slovakia's rating at A+, but changed the outlook to stable. The CNB's decision not to change interest rates is not surprising, according to analysts. MFA: The reduction in money for salaries in the state sector cannot be applied generally. President's advisor: The involvement of the Senate in the appointment of the CNB board is being debated at the Castle. PwC: The market value of the most valuable companies fell the most since 2009. CNB: The net profit of banks last year fell by 32.3 billion to 102.6 billion CZK. IMF slightly improves estimate of US economic growth this year. Congo is preparing to sign cooperation with China in infrastructure and mineral extraction. The Czech Republic is entering a wage-inflation spiral, says CNB Bank Board member Holub. The Fed, as expected, raised the base interest rate by a quarter of a percentage point. Cross-border payments for online purchases will probably be recorded. SAO: More than CZK 48 billion paid as compensation for Covid has fulfilled its purpose. At a conference in Ostrava, entrepreneurs will look for a way out of the economic crisis. Inflation in the US fell to a two-year low of 4.9 percent in April. The British central bank increased the base interest rate by a quarter of a point to 4.50 percent. Kofola is shocked by the proposal to increase VAT to 21 percent, said the director. The CNB has fined the Fair Credit Czech loan provider three million crowns. The Association of Local Governments does not agree with the change in the distribution of tax revenues. Prime Minister Fiala will meet with CNB Governor Michl and members of the Bank Board today. The pace of industrial production growth accelerated in March, while construction continues to fall. ČSOB Index: The mood of companies in the Czech Republic has improved, it is almost the same as before the pandemic. The head of the Polish central bank hopes that he will be able to start cutting interest rates this year. Experts disagree on whether the CNB should use rates to combat the impact of the deficit. Media: Central banks and governments coordinated the manipulation of interest rates during the global crisis. The CNB improved the economic outlook, but used an estimate of full-year inflation. The Confederation of Employers criticizes adjustments to work agreements or benefits. The Czech Republic has an opportunity to contribute to Europe's energy security in lithium, said Fiala.

Stock exchanges: The price of gold has exceeded 2,000 USD per ounce, it is close to a record. The price of gold exceeded 2,000 USD per ounce this week, close to a record. Analysts: Demand for platinum will increase sharply this year, there is a deficit on the market. World Gold Council: The Czech Republic has expanded its gold reserves by 1.54 tons to 13.5 tons.

Finance: Survey: 12 percent of Czechs have saved ten times their monthly household income. Commerzbank, thanks to higher interest rates, more than doubled its net profit in the quarter. Donor states have pledged 2.4 billion dollars to help Africa fight hunger. UniCredit Bank in the Czech Republic and Slovakia has seen its net profit increase by 19 percent this year to 2.2 billion CZK. Index: Most mutual funds made a profit for investors in April. Trinity Bank will pay shareholders 378.2 million CZK in dividends. BNP Paribas doubled its quarterly profit thanks to the sale of its US division. France has issued an international arrest warrant for the long-time head of Lebanon's central bank. Last weekend in April, Sberbank CZ's loan clients transferred to Česká spořitelna. Today, CNB Governor Michl presented the first award for the contribution to financial literacy. According to Reuters sources, the European Commission approves the agreement between UBS and Credit Suisse.