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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: S&P has improved Greece's rating, the country is one notch away from investment grade. List News: Aleš Michl is to be the new governor of the Czech National Bank after Rusnok. Study: 81 company bankruptcies were declared in March, the most since May 2019. Analysts: Up to tens of percent of applicants will not receive a mortgage after the tightening of conditions. The growth of the British economy slowed to 0.8 percent in the first quarter. The American economy surprisingly fell, but domestic demand is high. The Czech National Bank has legally revoked the banking license of Sberbank CZ. Export growth from China slowed sharply in April due to Covid-19. Union: The current crisis can strengthen Europe, it should not disrupt functioning systems. The British central bank has increased the base interest rate, the economy is expected to decline next year. Rusnok: The CNB Council is ready to continue raising rates, the priority is price stability. The CNB intervened today against the weakening of the koruna, which strengthened below CZK 25 per euro. Britain imposed sanctions on representatives of the Russian army, including the commander from Buč. BIS bank chief: The world may be on the threshold of a new inflationary era. Inflation in Slovakia accelerated to 11.8 percent, the highest since June 2000. Bloomberg: The US economy could surpass China in growth this year for the first time since 1976. The CNB imposed a fine of CZK 2.5 million on the credit company Acema Credit Czech. Analysis: Inflation in Europe will peak in the second quarter. The state budget deficit rose to CZK 59.1 billion at the end of March. ZEW: Investor confidence in the German economy fell less than expected. According to Buffett, the best protection against inflation is to be exceptionally good at something. Rusnok: If the development confirms the CNB's estimates, rates will probably rise in June. Inflation in the US slowed to 8.3 percent in April, but is close to a 40-year high. The capital registered in the registered capital of Czech companies fell by 0.7 percent in the year. Bloomberg: Half of the 20 richest Russians do not face sanctions, four of the top five do. IMF: Food crisis in sub-Saharan Africa may lead to social unrest. Analyst: The market expects the CNB to raise the rate to five percent, the crown's reaction will not be drastic. The unemployment rate in the US has fallen to a new two-year low of 3.6 percent. The war has not yet had an impact on unemployment and industry, but uncertainty dominates the market. Analysts: Inflation will rise to 15 percent, so the Czech National Bank will probably raise rates. Bag-making industry sews bulletproof vests instead of bags and belts during wartime. The Fed raised the base interest rate by half a percentage point, the most in 22 years. The head of the Budget Council Zamrazilová is also a member of the pension reform group. Moravian-Silesian companies: The increase in rates may affect subcontractors. Czech households' debts to banks rose to CZK 2.087 trillion in March.

Stock exchanges: The price of gold rose to a monthly maximum of close to $2,000 per ounce. The coronavirus has deprived Jablonec glass and jewelry manufacturers of half of their sales.

Finance: Société Générale CEO Frédéric Oudéa will step down next year. Mastercard and Nexo will jointly issue the first payment card backed by cryptocurrencies. Index: The average Czech investor in funds lost almost five percent this year. Sellers: Gold sales increased by tens of percent after the Russian invasion of Ukraine. SMBC will become the second largest aircraft lessor by taking over rival Goshawk. Analysts: Gold has risen in price by six percent this year, silver by seven percent. New Hypoindex: The average mortgage offer rate rose to 4.88 percent in April. Raiffeisenbank announced that it is the first bank in the Czech Republic to accept Ukrainian hryvnias.