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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: Britain's inflation fell to 1.7 percent in September, the lowest since spring 2021. Experts: Czech economy needs cheaper energy, but it won't get it soon. Analysts: August industrial growth was driven by factory-wide holidays at car factories. SB: China's economic growth will continue to slow next year. Goldman Sachs has improved its outlook for the Chinese economy for this year and next. WTO has improved its estimate of this year's growth in world trade in goods to 2.7 percent. The Czech National Bank has published the results of three external audits of its monetary policy model. The Prague company of the year is the switchboard manufacturer Conteg, a sole proprietor of the goldsmith Polová. The Czech National Bank plans to increase the share of stocks in foreign exchange reserves, will strengthen the share of American stocks. Inflation accelerated to 2.8 percent in October, analysts expect it to grow further. Ifo: Excessive bureaucracy costs the German economy up to 146 billion euros a year. Inflation in the US slowed to 2.4 percent in September, a more significant decline was expected. Ifo: German companies have the fewest orders since the financial crisis 15 years ago. The Czech Republic has deteriorated in economic freedom, ranking 22nd in the world. The CNB Bank Board also considers a weaker crown to be an inflation risk. Industry and foreign trade in the Czech Republic improved in September, construction weakened. SAO: The introduction of European directives had no significant impact on tax collection from companies. Inflation accelerated to 2.6 percent in September, contributed to by rising food prices. Brazilian authorities are preparing a crackdown on illegal gold miners in the Amazon.

Stock markets: BBC: Gold rush sparks ecological disaster in Ghana. Rio Tinto to buy Arcadium for $6.7 billion, will be key lithium miner. Gold price exceeds $2,700 per troy ounce for first time.

Finance: The British central bank cut its base rate to 4.75 percent as expected. Quarterly profit of Bank of America and Citigroup fell, Goldman Sachs earned more. Swiss bank UBS returned to profit in the third quarter, exceeding estimates. Volkswagen's sales fell in the quarter, Moody's lowered the company's rating outlook. Čupr issues bonds worth three billion CZK through Rohlik.cz Finance II. London lost 40,000 jobs in the financial sector due to Brexit, according to the head of the City. Šindel will succeed Seidler as chief economist of the Czech Banking Association. The ECB has cut interest rates by a quarter of a percentage point, the deposit rate is at 3.25 percent. Česká spořitelna increased its net profit to CZK 19.4 billion in three quarters. The CNB has fined Fio banka for violating the anti-money laundering law. Hypomonitor: The volume of mortgages in September fell by CZK 8.1 billion to CZK 24.2 billion. PPF has sold the Russian PPF Life Insurance to the Inweasta group, Interfax reported today. Boeing needs up to USD 35 billion, is struggling with production problems and strikes. Survey: Most Czechs are going into debt due to extraordinary expenses and larger investments. PPF will seek further acquisitions, including telecommunications, said director Šmejc. Survey: Two-thirds of the Czech population does not know what a long-term investment product is. Norway's largest bank DNB will take over Swedish investment bank Carnegie. The Hungarian central bank left the base interest rate at 6.50 percent. Expert: If there are no changes in the healthcare system, the availability of care will decrease. HN: PPF bought Šmejc's stake in the Home Credit group for 5.6 billion crowns. The Russian central bank increased the base interest rate to a record 21 percent. Komerční banka increased its net profit by 0.9 percent to 12.64 billion CZK in three quarters. Buffett's investment firm continued to sell shares, holds record cash.