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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 crown has strengthened by about 10 percent in the five years since the end of the CNB's interventions. The Sri Lankan stock exchange will remain closed next week. The ECB confirmed plans to end asset purchases in the third quarter. 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. Analysts: Higher rates will quickly make mortgages more expensive, deposit interest rates will rise later. ZEW: Investor confidence in the German economy has fallen less than expected. The CNB Council has raised the base interest rate to five percent, the highest since 2001. The war has not yet had an impact on unemployment and industry, but uncertainty dominates the market. The CNB Council decided today to intervene in the foreign exchange market against the weakening of the koruna. The head of the Budget Council Zamrazilová is also a member of the pension reform group. Inflation in the EU reached a record 7.8 percent, the Czech Republic has the third highest. The Australian central bank raised interest rates for the first time in more than a decade. Analysts: The origin of inflation dates back to before the pandemic, in addition to rates, the exchange rate can be used against it. IMF: The food crisis in sub-Saharan Africa can lead to social unrest. Bag-making in times of war sews bulletproof vests instead of bags and belts. FAO: Russians spend twice as much on food as before the invasion. Fed officials are considering reducing the balance sheet by $95 billion per month. Czech households' debts to banks rose to CZK 2.087 trillion in March. The rise in credit costs is bringing back memories of the debt crisis in some EU countries. Slovak industry deepened its decline to 7.3 percent in March. Export growth from China slowed sharply in April due to Covid-19. Inflation in the US slowed to 8.3 percent in April, but is close to a 40-year high. The Russian Central Bank has cut its key interest rate and indicated further cuts. Inflation in Slovakia has accelerated to 11.8 percent, the highest since June 2000. The Fed has raised its key interest rate by half a percentage point, the most in 22 years. The Czech National Bank has legally revoked the banking license of Sberbank CZ. Olomouc scientists have developed a nanomaterial that will help reduce energy costs. Study: 81 company bankruptcies were declared in March, the most since May 2019. Moravian-Silesian companies: Rate increases may affect subcontractors. China to reduce banks' reserve requirement to support growth. Rusnok: CNB board ready to raise rates further, priority is price stability. GfK: Consumer sentiment in Germany is deteriorating due to the war in Ukraine. CNB issues commemorative 100-crown banknote with portrait of economist Engliš.

Stock exchanges: The price of gold has reached a monthly high of close to $2,000 per ounce. The deposits that ČEZ must deposit on the stock exchange reached 100 billion crowns in March. Analysts: Food and industrial raw materials have increased in price by tens of percent this year.

Finance: Analysts: Gold has increased in price by six percent this year, silver by seven percent. CNB to open new visitor center on May 21. Deposits of residents in banks fell by 26 billion CZK month-on-month in March. Analysis: The mortgage boom in the Czech Republic is ending this year, a third of applicants will not be able to get a loan. The IMF approved a new loan agreement with Argentina worth 44 billion dollars. Index: The average Czech investor in funds lost almost five percent this year. New Hypoindex: The average mortgage offer rate rose to 4.88 percent in April. Experts: PPF is slowly leaving the eastern markets a year after the death of founder Kellner.