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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: The balance of payments ended in a deficit of CZK 3.7 billion in the second quarter. Analysts: Plant-wide holidays at car factories were behind the August growth in industry. WTO improved its estimate of this year's growth in world trade in goods to 2.7 percent. Analysts expect another CNB interest rate cut, probably to 4.25 percent. Inflation in the US slowed to 2.4 percent in September, a more significant decline was expected. CNB: Czech household debt rose to 2.33 trillion crowns in August. AP: The Olympics were a success for Paris, but a disaster for some companies. The CNB has cut the interest rate to 4.25 percent, a decision made by six board members. The number of corporate bankruptcies in Germany increased by almost a quarter in the first half of the year. Analysis: Trade between Britain and the EU has fallen by more than a quarter in the last three years. Nobel Prize in Economics awarded to scientists for research into the impact of institutions on prosperity. Survey: 56 percent of small entrepreneurs considered closing their businesses. Inflation in Turkey fell below 50 percent for the first time in more than a year in September. Number of hundred-millionaires has increased by 54 percent in a decade, most in China and the US. The Nobel Prizes in Science will be awarded on Monday, APA has 22 favorites. China has invested over $100 billion in clean energy abroad since 2023. Goldman Sachs has improved its outlook for the Chinese economy for this year and next. Czech National Bank will replace banknotes and coins damaged in floods for people and companies. Business activity in the eurozone unexpectedly fell in September, Germany faces recession. The Czech National Bank's foreign exchange reserves increased by 7.5 billion to 138.1 billion euros in September year-on-year.

Stock exchanges: The price of gold is at another record high, surpassing USD 2,550 per troy ounce. The Czech National Bank bought almost five tons of gold in the third quarter, now holding 46.41 tons. Silver has climbed to a 12-year high, and gold is also breaking records. Rio Tinto will buy Arcadium for USD 6.7 billion, becoming a key lithium miner.

Finance: Index: The average Czech investor in funds earned 8.65 percent this year. CNB: Banks' net profit in the first half of the year increased by eight percent to CZK 59.9 billion. Boeing needs up to $35 billion, struggling with production problems and strikes. Survey: Ten percent of Czechs can't afford a mortgage. Study: Fintech companies' revenues rose last year, but market valuations fell. Analysts: Floods in Central Europe could cause losses of up to billions of euros. Partners Banka has 70,000 clients in six months, more than other new banks. Survey: Czechs prefer real estate investments, followed by savings accounts. Analysts: The price of gold, which has been breaking records this year, is likely to continue to grow. MF: The number of new building savings contracts increased by 4.1 percent in the first half of the year. Bank identity launched electronic signing without registration. Air Bank Group's net profit rose by five percent in the first half of the year to CZK 1.3 billion. Pressure is growing in the ECB to further reduce interest rates, Slovak Governor Kažimír is against it. The Japanese central bank left interest rates unchanged. UniCredit bought more Commerzbank shares, may become the largest shareholder. Hypomonitor: Mortgage volume fell by 8.1 billion to 24.2 billion CZK in September. The Swiss central bank reduced the base interest rate by a quarter of a point to 1.00 percent. Survey: Most Czechs are in debt due to extraordinary expenses and larger investments. Hypomonitor: Mortgage volume fell by 8.1 billion to 24.2 billion CZK in September. The British central bank left the base interest rate at five percent. Survey: The share of Czechs who save over 5,000 CZK per month has increased to 27 percent.