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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 Fed raised the base rate by half a percentage point, the most in 22 years. Analysis by Portu: Large banks are in no hurry to raise interest rates on savings accounts. Fiala wants price stability, other politicians point out Michl's connection to Babiš. ZEW: Investor confidence in the German economy has decreased less than expected. GfK: Consumer sentiment in Germany is deteriorating due to the war in Ukraine. Analyst: The market expects the CNB to increase the rate to five percent, the koruna's reaction will not be drastic. Inflation in the US slowed to 8.3 percent in April, but is close to a 40-year high. According to the NIESR institute, Britain is facing a recession in the second half of the year. The capital registered in the registered capital of Czech companies fell by 0.7 percent over the year. The koruna has strengthened by around 10 percent in the five years since the end of the CNB's interventions. Business sentiment in Germany has stabilized after the March slump. Dun & Bradstreet: The number of unreliable VAT payers has risen to 25,738. Chamber: Almost half of Czech companies will curb their investments this year. The CNB Council decided today to intervene in the foreign exchange market against the weakening of the koruna. Britain imposed sanctions on representatives of the Russian army, including the commander from Buč. The war has not yet had an impact on unemployment and industry, but uncertainty dominates the market. The Slovak Central Bank has significantly worsened the country's economic growth outlook. Moravian-Silesian companies: Rate increases may affect subcontractors. Olomouc scientists have developed a nanomaterial that will help reduce energy costs. Export growth from China slowed sharply in April due to Covid-19. FAO: Russians spend twice as much on food as before the invasion. According to economists, Michl's appointment as CNB governor may indicate more significant changes. The CNB has legally revoked Sberbank CZ's banking license. Inflation in Slovakia has accelerated to 11.8 percent, the highest since June 2000. The Bank of England has raised its base interest rate, and the economy is expected to contract next year. The rise in borrowing costs is bringing back memories of the debt crisis in some EU countries. The Reserve Bank of Australia has raised interest rates for the first time in more than a decade. IIF: Global debt rose to a record $305 trillion in the first quarter. The CNB Council has raised its base interest rate to five percent, the highest since 2001. The koruna has lost a percentage point in response to the appointment of Michl as the new CNB governor. List News: Aleš Michl is to be the new governor of the Czech National Bank after Rusnok. Note: The Czech National Bank Council agreed that the war changed the structure of inflationary pressures. Consumer confidence in the US fell to its lowest level in almost 11 years. The Czech National Bank imposed a fine of CZK 2.5 million on the credit company Acema Credit Czech. The Czech National Bank issued a commemorative 100-crown banknote with a portrait of the national economist Engliš.

Stock exchanges: The price of gold rose to a monthly maximum of close to $2,000 per ounce. Demand for silver rose last year to the highest level since 2015 and will continue to grow this year.

Finance: The Kazakh Central Bank responded to reports of issuing payment cards to Russians. New Hypoindex: Average mortgage offer rate in April rose to 4.88 pct.. Raiffeisenbank announced that it is the first bank in the Czech Republic to accept Ukrainian hryvnias. Mastercard and Nexo will jointly issue the first payment card backed by cryptocurrencies. Former CNB Governor Tůma became a member of the Association of World Central Bankers. Société Générale CEO Frédéric Oudéa will retire next year. CBA: Mortgage volume fell by half in March to CZK 30.3 billion, rates rose. SMBC will become the second largest aircraft lessor by taking over rival Goshawk.