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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 increased its GDP growth estimate to 2.8 percent thanks to tourism. Poles are upset that Draghi did not talk to them when writing the report on Europe's lagging behind. The average wage in the Czech Republic rose to 45,854 CZK, growth was below market expectations. Economist Hampl: The Czech Republic did not sufficiently realize how the world has changed after 2019. Survey: Two-thirds of Czechs perceive the current situation as an economic crisis. Inflation in Hungary fell to 3.4 percent, the lowest in three and a half years. Industry and trade did not do well in July, construction increased year-on-year. Analysis: 4,088 entrepreneurs went bankrupt in the Czech Republic this year, seven percent more year-on-year. CNB: Czech household debt rose to 2.33 trillion crowns in August. Prices in industry and construction rose in August, while agriculture fell again. Study: Thanks to production at Třinecké železárny, the state has earned 54 billion CZK in 14 years. The Nobel Prizes in Science will be awarded on Monday, APA has 22 favorites. AP: The Olympics were a success for Paris, but a disaster for some businesses. Analysts expect an acceleration in annual inflation in September due to the comparative base. IfW: The German economy will continue to decline this year. Excellent: Foresters will receive 2 billion CZK for farming next year instead of 500 million. The Japanese economy grew at a rate of 2.9 percent in the second quarter, more was expected. The German economy will show zero growth this year, the Ifo Institute estimates. Survey: 56 percent of small entrepreneurs considered closing their businesses. The Czech National Bank left the credit market reserve rate at 1.25 percent. Analysts: Wage growth fell short of expectations, high-income earners are growing faster. Analysts: August industrial growth was driven by factory-wide holidays at car factories. Inflation in Turkey fell below 50 percent in September for the first time in more than a year.

Stock markets: Rio Tinto to buy Arcadium for $6.7 billion, becoming a key lithium miner. Of the commodities on the markets this year, cocoa and gold have become more expensive, while steel and corn have become cheaper. The price of gold has exceeded $2,600 per troy ounce for the first time. The Czech National Bank bought almost five tons of gold in the third quarter, holding 46.41 tons. Thyssenkrupp is reassessing plans for the production of so-called green steel.

Finance: Pressure is growing in the ECB for further interest rate cuts, Slovak Governor Kažimír is against it. Survey: People no longer insist on owning their own homes, only less than half want it. The Hungarian Central Bank has lowered the base interest rate to 6.50 percent. Analysis: Banks are reducing interest rates on savings accounts, the highest is around four percent. The Jet Investment Group sold the Třebíč-based Tedom Group to the Japanese Yanmar Group. The Russian Central Bank has increased the base interest rate by one percentage point to 19 percent. MMR: Five annual household incomes are needed to buy an average-sized apartment in the Czech Republic. The European Central Bank will probably cut rates in October, the French governor said. The Fed has lowered the base interest rate by half a point to a range of 4.75 to 5.00 percent. The Chinese Central Bank has lowered interest rates, will consider further support by the end of the year. Air Bank Group's net profit rose by five percent to CZK 1.3 billion in the first half of the year. Survey: The share of Czechs who save over CZK 5,000 per month rose to 27 percent. MF: The number of new building savings contracts rose by 4.1 percent in the first half of the year. Bank identity launched electronic signing without registration. The British central bank left the base interest rate at five percent. Study: Fintech companies' revenues increased last year, but market valuations fell. Analysts: Floods in Central Europe may cause losses of up to billions of euros.