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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: ČNB cuts interest rate to four percent, worsens economic outlook. Analysts: ČNB will decide between rate cuts and stability. SB: China's economic growth will continue to slow next year. Today will be the last day for CNB cash desks in Pilsen, Ústí nad Labem and České Budějovice to be open. Survey: 56 percent of small entrepreneurs considered closing their businesses. Study: Global mergers and acquisitions market is slowly recovering, up by one tenth this year. IMF chief expects weak growth and high debt in the medium term. SAO: The contribution of money to increasing employment of the disadvantaged cannot be evaluated. Analysts: Nobel laureates have shown the importance of institutions for prosperity. Inflation accelerated to 2.6 percent in September, fueled by rising food prices. Czech society has become richer in 35 years, but it has also become more comfortable, said Petr Doškář from the Ministry of Industry and Trade. The Nobel Prizes for Science will be awarded on Monday, the APA has 22 favorites. Analysis: The number of corporate bankruptcies this year rose by nine percent to 524. The Prague company of the year is the switchboard manufacturer Conteg, the sole proprietor of the goldsmith Polová. CNB: Czech household debts rose to 2.33 trillion crowns in August. Analysts: Plant-wide holidays at car factories were behind the August growth in industry. The Czech Republic has worsened in economic freedom, ranking 22nd in the world. Brazilian authorities are preparing a crackdown on illegal gold miners in the Amazon. Poles are annoyed that Draghi did not speak to them when writing the report on Europe's lagging behind. CNB: Czech household debt rose to 2.34 trillion crowns in September.

Stock exchanges: Among commodities on the markets this year, cocoa, coffee and gold are more expensive, while corn is cheaper. The price of gold has exceeded $2,700 per troy ounce for the first time. Among commodities on the markets this year, cocoa and gold are more expensive, while steel and corn are cheaper. CNB bought almost five tons of gold in the third quarter, holding 46.41 tons.

Finance: The Chinese central bank has cut key interest rates to support growth. Česká spořitelna has increased its net profit to CZK 19.4 billion in three quarters. Boeing needs up to 35 billion USD, is struggling with production problems and strikes. Hypomonitor: Mortgage volume fell by 8.1 billion to 24.2 billion CZK in September. PPF Group's net profit fell by 10.6 percent to 16 billion CZK in the first half of the year. ECB cut interest rates by a quarter of a percentage point, deposit rate is at 3.25 percent. Russia's central bank raised the base interest rate to a record 21 percent. Hypomonitor: Mortgage volume fell by 8.1 billion to 24.2 billion CZK in September. Survey: Two-thirds of the Czech population does not know what a long-term investment product is. CNB fined Fio banka for violating the anti-money laundering law. Moneta's net profit for the three quarters increased by 6.6 percent year-on-year to 4.2 billion CZK. Survey: Two-thirds of Czechs are trying to value their money, 41 percent are investing. New HSBC bank boss changes corporate structure, first woman to be CFO. Komerční banka increased net profit by 0.9 pct to CZK 12.64 billion in three quarters. The British central bank, as expected, reduced the base interest rate to 4.75 percent. EU auditors: Budget errors reached 5.6 percent, fraud persists. Survey: 14 percent of Czechs have no financial reserves. PPF sold Russian PPF Life Insurance to the Inweasta group, Interfax reported today. Expert: If there are no changes in the healthcare sector, the availability of care will decrease. Pressure is growing in the ECB to further reduce interest rates, Slovak governor Kažimír is against it. Morgan Stanley bank increased quarterly profit by a third to USD 3.2 billion.