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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: Bloomberg: Onion shortage opens a new chapter in the global food crisis. CNB: There are no banks operating in the Czech Republic with a similar model to those that failed in the US. The CNB today left the credit market protection rate unchanged. Mayors are concerned that the revenue from the increased property tax would go to the state. The inflation rate in Argentina exceeded 100 percent for the first time since the early 1990s. Median: Czechs most often protect themselves against inflation by investing in gold. Hampl: High inflation is more reflected in budget expenditures than in budget revenues. The priority of MEPs for the next EU summit is the competitiveness of the economy. Zamrazilová: If the CNB predicts a 10 percent wage increase, there is a risk of tightening monetary policy. The head of Exxon criticized the EU's energy policy, saying it went too far. A school in Železný Brod has acquired a nanofiber machine thanks to a partnership with Elmarco. The Swiss Central Bank raised interest rates, despite the crisis surrounding Credit Suisse. Inflation in the US slowed to six percent in February, the lowest since September 2021. The coronavirus and the energy crisis have increased interest in Elmarco's Nanospiders. The richest Czechs expect inflation to decline only gradually this year. Slovakia is the second largest export market after 30 years, the fifth largest import market. The situation of European banks is stable, EU leaders agree after the summit.

Stock exchanges: The price of gold today exceeded the 2,000 USD mark, the strongest in the last year. Gunmen in the Central African Republic killed nine Chinese at a gold mine. UBS: China could control a third of the lithium market by 2025.

Finance: Another bank in the US, New York's Signature Bank, has closed. The British central bank is holding emergency talks over Credit Suisse. HSBC will acquire the British subsidiary of the bankrupt SVB for one pound. Flagstar Bank will take over deposits and loans from the bankrupt Signature Bank. Small banks in the US have seen a record drop in deposits after the SVB collapse. Bloomberg: Banks are lifting bans on hiring employees, they want talent from Credit Suisse. More banks, especially small ones, will go bankrupt within two years, believes the head of the Man Group fund. CBA: The volume of mortgages in February increased by 20 percent month-on-month, rates fell. Expert: The collapse of the American bank SVB will not affect Czech start-ups to a greater extent. Credit Suisse rescue talks drag on, nationalization of the bank is at stake. Reuters: Credit Suisse is just buying time thanks to help from the central bank. SVB's collapse may have an impact on regional US banks, some investors fear. European shares have strengthened despite an initial decline, as fears about banks have eased. Credit Suisse shares have fallen by 30 percent, with the main investor ruling out further aid. Swiss bank UBS will take over rival Credit Suisse for three billion francs. ČSOB warned today about fraudsters who are abusing its logo. American SVB has collapsed, the biggest banking collapse in the US since 2008. European shares have weakened, investors are concerned about the stability of the financial sector. Credit Suisse will borrow up to 50 billion Swiss francs from the central bank. European shares have weakened sharply due to the collapse of two American banks. Survey: Nine percent of Czechs will have nothing left after paying for necessary expenses. Survey: Half of young Czechs see investing as standard money management. British bank considers buying British division of bankrupt US bank SVB. US stocks closed mixed, banks weakened. SVB collapse may have an impact on regional US banks, some investors fear.