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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: Over 100 cases of coronavirus infection appeared in Germany in a day. Producer prices in the US fell the most in five years. Cross-border mergers of companies in the Czech Republic are increasing, there were 48 last year. According to analysts, the pressure on wage growth in the economy is easing. Bloomberg: The global economy is gripped by a rare double shock. Economic growth slowed to 2.4 percent last year, and will probably fall further this year. China remains Germany's largest trading partner, the Czech Republic is tenth. Companies in the Zlín region are limiting business trips due to coronavirus. Prices accelerated growth to 3.7 percent in February, this may be the peak. The Turkish economy has recovered from the recession, production is also increasing. Moravian-Silesian companies are trying to accommodate employees with children. Reuters: Coronavirus also threatens Chinese companies in Japan and Korea. Bavaria has banned events for more than 1,000 people due to coronavirus. Bloomberg: Coronavirus could cost the world $2.7 trillion. Chinese factory activity fell to a record low in February. Bankers: The impact of coronavirus on the economy is already visible. OECD has significantly worsened its outlook for global economic growth. Russian tourism industry is feeling the effects of coronavirus, asking for help. Analysts: Inflation will remain high, but will then fall faster. Czech National Bank does not rule out rate cuts due to coronavirus, the infection will affect GDP. Construction grew year-on-year in January, while industry fell. IMF economist calls on governments to provide targeted support to economies. Over 60 percent of Japanese companies expect lower profits due to coronavirus. British economic growth unexpectedly stopped in January. Dlouhý: Companies could lose tens of billions of CZK due to coronavirus. Average wage increased to 36,144 CZK, but pressure for growth is easing. Analysts: Importers and hotels may have problems due to coronavirus.

Stock exchanges: Industrial metal prices are falling significantly due to coronavirus fears. Oil prices fell by 30 percent, the most since 1991. Gold rose above $1,700, the most expensive since 2012. The Russian Central Bank is preparing an intervention to support the currency.

Finance: Rusnok: Changing the CNB rates is not a very effective tool right now. CRIF: Total debt of the Czech Republic's population increased by 5.8 percent to 2.45 trillion. Iran asked the IMF for financial assistance due to coronavirus. The bank has applied for permission to operate the National Development Fund. The share of foreign investors holding Czech bonds has increased. Banks will allow loan repayments to be deferred for clients affected by the coronavirus. The British central bank has lowered interest rates to a minimum of 0.25 percent. European banks are sending employees home due to the coronavirus. Household debts with banks rose to CZK 1.76 trillion in January. Banks will allow loan repayments to be deferred for clients affected by the coronavirus. Companies are allowing employees to work from home and canceling business trips. The government will discuss support for businesses due to the coronavirus for CZK 600 million. The CNB has fined Komerční banka two million. Lesy ČR lost about one billion last year, they have started using credit.