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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 Spanish central bank has increased its GDP growth estimate to 2.8 percent thanks to tourism. CNB: Czech household debt rose to 2.33 trillion crowns in August. Analysts: Consumption recovery is slow, due to concerns about economic development. AP: The Olympics were a success for Paris, but a disaster for some companies. SAP: The introduction of AI would increase the value of domestic companies by an average of 16 percent. Analysts expect an acceleration of year-on-year inflation in September due to the comparative base. Study: Thanks to production at Třinecké železárny, the state has earned CZK 54 billion in 14 years. onsemi: Without investment incentives, production in Rožnov could not have expanded. Inflation in the US slowed to 2.4 percent in September, a more significant decline was expected. The Czech National Bank will exchange banknotes and coins damaged in the floods for people and companies. The Czech National Bank's foreign exchange reserves increased by 7.5 billion to 138.1 billion euros in September year-on-year. Prices in industry and construction rose in August, while agriculture fell again. The Czech National Bank has cut its interest rate to 4.25 percent, a decision made by six members of the board. The Nobel Prizes in Science will be awarded on Monday, the APA has 22 favorites. Analysts expect another cut in CNB interest rates, probably to 4.25 percent. Industry and trade did not do well in July, construction grew year-on-year. Analysis: The number of corporate bankruptcies has increased by nine percent this year to 524. Inflation in Hungary has fallen to 3.4 percent, the lowest in three and a half years. Analysis: The share of companies in the Czech Republic that use a virtual office has increased to 25 percent. Analysis: 4,088 entrepreneurs went bankrupt in the Czech Republic this year, up seven percent year-on-year. Survey: 56 percent of small entrepreneurs considered closing their businesses. Inflation in the US fell to 2.5 percent in August, the lowest in three and a half years.

Stock markets: Rio Tinto to buy Arcadium for $6.7 billion, will be a key lithium miner. The price of gold has exceeded $2,600 per troy ounce for the first time. The platinum market is likely to record its largest deficit in the last ten years this year. Of the commodities on the markets, cocoa and gold have become more expensive this year, while steel and corn have become cheaper. Thyssenkrupp is reconsidering plans to produce so-called green steel.

Finance: Germany sold part of its stake in Commerzbank to Italy's UniCredit for 702 million euros. IMF agrees with Ukraine to release another 1.1 billion USD. Hypomonitor: Mortgage volume fell by 8.1 billion to 24.2 billion CZK in September. The world's longest-serving central bank chief may get another term. MF: The number of new building savings contracts increased by 4.1 percent in the first half of the year. The Japanese central bank left interest rates unchanged. Volkswagen's sales fell in the quarter, Moody's lowered the company's rating outlook. Analysts: Floods in Central Europe may cause losses of up to billions of euros. Analysts: The price of gold, which is breaking records this year, is likely to continue to grow. UniCredit bought more Commerzbank shares, may become the largest shareholder. CNB: Banks' net profit rose by eight percent to CZK 59.9 billion in the first half of the year. Jet Investment Group sold the Třebíč-based Tedom Group to the Japanese Yanmar Group. The European Central Bank will probably cut rates in October, the French governor said. MMR: Five annual household incomes are needed to buy an average-sized apartment in the Czech Republic. Raiffeisen Bank shares weaken after shares of its branch were frozen in Russia. Survey: The share of Czechs who save over CZK 5,000 per month has risen to 27 percent. The British central bank left the base interest rate at five percent. Analysis: Banks are reducing interest rates on savings accounts, the highest are around four percent.