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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: Inflation in Slovakia rose to 5.8 percent in December, the highest in 17 years. CT: President of the Chamber of Commerce Vladimír Dlouhý is a candidate for governor of the Czech National Bank. The Czech National Bank does not rule out inflation above 10 percent at the beginning of this year. Spiegel: The German government will significantly reduce the outlook for this year's economic growth. The Indian central bank will introduce a digital currency in the next financial year. CT: President of the Chamber of Commerce Vladimír Dlouhý is a candidate for governor of the Czech National Bank. The US trade deficit in goods exceeded one trillion last year for the first time. The CNB Council raised the base interest rate to 4.5 percent, the highest since 2002. The crown temporarily strengthened to 24.10 CZK/EUR, the last time it was stronger was in 2011. The Exporters' Association warns against increasing CNB rates, saying it is losing hundreds of billions. The number and value of banknotes and coins in circulation increased last year. The government wants a ceiling on taxes, financial consolidation or the abolition of the EET. Deloitte: The economy will grow by 4 percent this year and reach the pre-pandemic level. The growth of business activity in the eurozone slowed in January, the omicron hit services. Inflation rose to 6.6 percent in December, and will continue to grow up to 10 percent. PwC survey: Three-quarters of Czech companies increased prices last year. The world must release frozen funds to famine-stricken Afghanistan, Guterres said. Experts: VAT waiver reduced December inflation, may be 10 percent in January. Household debt to banks rose to 2.032 trillion crowns in November. Germany will help companies affected by high energy prices, the minister said. CRIF study: The number of company bankruptcies in the Czech Republic was the highest last year since 2017. WSJ: Turks are buying more bitcoin and tether due to the weak domestic currency. The Polish economy grew by 5.7 percent last year, the most since 2007. Germany wants to attract 400,000 qualified workers from abroad each year. The IMF expects to increase its estimate of losses caused by the pandemic to the global economy. Unemployment in Germany fell to 5.2 percent in December, the lowest since the pandemic. Bruegel: Disruption of Russian gas supplies would have serious impacts on the EU economy.

Stock markets: De Beers has significantly increased diamond prices, by about eight percent, according to Bloomberg sources. The price of uranium is increasing significantly due to unrest in Kazakhstan. Aluminum prices for European consumers are rising to records due to expensive electricity. The price of gold is losing almost four percent this year, the most since 2015.

Finance: American banks Morgan Stanley and Bank of America have increased quarterly profits. The largest Swiss bank UBS has the highest profit in 15 years last year. The American bank Goldman Sachs increased both profit and revenue to a record last year. Italian UniCredit tripled profit last year, also exceeding estimates in sales. According to the press, the British government is preparing to freeze the BBC's concession fee. The Fed has indicated that it plans to start raising the base interest rate in March. Bloomberg: PayPal is exploring the possibility of creating its own cryptocurrency. China has cut its base interest rate to 3.7 percent, seeking to boost the economy. The volume of new bank loans in China rose to a record last year. Analysts: Gold, silver and copper fell slightly in January, while oil rose significantly. Port analysis: Banks are slowly raising deposit rates in response to the CNB's rate hike. The Hungarian central bank has raised its base interest rate more significantly than expected. Reuters: Křetínský will probably sell his stake in Aareal Bank. Russia is returning to the government bond market, securing almost a billion dollars.