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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: Scholz: EU will decide on ban on Russian gold imports, participation in G20 is open. G7 summit stands by Ukraine and prepares further anti-Russian sanctions. The crown lost a percentage point in response to the appointment of the new CNB governor Michl. The Norwegian central bank surprisingly raised the base interest rate to 1.25 percent. According to the association, including heating plants in the sectoral tax would jeopardize their modernization. Aleš Michl will be the new CNB governor from July, he wants rate stability. The CNB left the limits for mortgages and the credit market protection rate unchanged. Inflation in the US unexpectedly accelerated to 8.6 percent in May, the highest since 1981. Note: The CNB Council agreed that the war changed the structure of inflationary pressures. Russia paid off its debt early today to avoid insolvency. The Slovak central bank has worsened its economic growth forecast, expecting higher inflation. Study: Britain is becoming a more closed economy due to Brexit. According to the prime minister, Sri Lanka needs at least five billion USD for basic goods. One in ten households in the eurozone owns crypto assets, an ECB survey showed. Analysis: The negative real yield on bank deposits will not change even if the CNB increases its interest rates. Three-quarters of young Lebanese want to go abroad, most do not intend to return. The CNB is examining the Ministry of Finance's announcement of a proposal to pay a higher dividend for CEZ shares. The growth of the British economy slowed to 0.8 percent in the first quarter. Commodity prices are rising, food prices have increased by tens of percent this year, oil by half. The koruna strengthened slightly today after the appointment of three new members of the CNB's bank board. Lagarde: Cryptocurrencies are worthless, they should be regulated. BBC: Russian elite gathering in St. Petersburg against the backdrop of the war against Ukraine. Union: The current crisis can strengthen Europe, it should not disrupt functioning systems. The inflation rate in the eurozone in May rose to a record 8.1 percent. May inflation was 1.1 percentage points higher than the CNB estimated. Business activity in the eurozone deteriorated sharply due to inflation. The České Budějovice bishopric deepened its loss, which is due to repairs to monuments. Drink less tea, the Pakistani government, which is dealing with the economic crisis, urged citizens. The Accolade group is investing over 1.5 billion crowns in Spain, most recently in Seville. The G7 countries want more sanctions against Russia, which may affect gold and energy prices. The Czech National Bank intervened today against the weakening of the crown, which strengthened below CZK 25 per euro. Rusnok: If the development confirms the CNB's estimates, rates will probably rise in June. Saudi Arabian billionaire Walid will sell a stake in his company to the state fund PIF. G7 countries are moving towards a ban on gold imports from Russia, the EU may also join. The Czech National Bank left the limits for providing mortgages unchanged. Fiala wants price stability, other politicians point out Michl's connection to Babiš.

Stock exchanges: Citigroup: Oil will be more expensive this year and next year, contrary to original assumptions.

Finance: Seznam News: Tykač has the CNB's approval to increase his stake in Moneta to 20 percent. Sellers: Gold sales after the Russian invasion of Ukraine increased by tens of percent. People from banks and technology companies are more likely to leave for fintech start-ups. Times: Prince Charles accepted millions in cash from Qatari sheikh for charity. The number of dollar millionaires in the Czech Republic rose by 6.9 percent last year to 32,200. PayPal will allow you to move cryptocurrencies to external wallets. BNP Paribas will hire around 7,000 people in France, with 148,000 in Europe. Société Générale CEO Frédéric Oudéa will step down next year.