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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: AP: Olympics were a success for Paris, but a disaster for some businesses. Japan's economy grew at a rate of 2.9 percent in the second quarter, more was expected. Reuters: China faces a rise in obesity due to economic problems and automation. US inflation fell to 2.5 percent in August, the lowest in three and a half years. Analysts expect another CNB interest rate cut, probably to 4.25 percent. CNB left the reserve rate for credit market protection at 1.25 percent. SAP: Introducing AI would increase the value of domestic companies by an average of 16 percent. The Spanish central bank increased its GDP growth estimate to 2.8 percent thanks to tourism. Kateřina Klosová will lead the board of directors of the Czech branch of Dun & Bradstreet. IfW: German economy will continue to decline this year. Inflation in Poland rose for the fifth month in a row in August, reaching 4.3 percent. The German economy will show zero growth this year, the Ifo Institute estimates. The number of hundred-millionaires has increased by 54 percent in ten years, most in China and the USA. Survey: Two-thirds of Czechs perceive the current situation as an economic crisis. CNB: Czech household debt rose to 2.33 trillion crowns in August. Analysts: The revival of consumption is gradual, the reason is concerns about the development of the economy. Analysts expect an acceleration of year-on-year inflation in September due to the comparison base. Analysis: The number of corporate bankruptcies has increased by nine percent this year to 524. Prices in industry and construction rose in August, while in agriculture they fell again. Analysis: Trade between Britain and the EU has fallen by more than a quarter in the last three years. Inflation in Germany slowed to 1.9 percent in August. Inflation in Turkey slowed to 52 percent, helped by high interest rates. Saudi oil revenues will fall more than expected this decade, the IMF says. Czech National Bank to replace flood-damaged banknotes and coins for people and companies. Nobel Prizes in Science to be awarded on Monday, APA has 22 favorites. Survey: 56 percent of small entrepreneurs have considered closing their businesses.

Stock markets: Gold price exceeds $2,600 per troy ounce for the first time. The platinum market is likely to post its largest deficit in a decade this year. Of the commodities on the markets, cocoa and gold have risen in price this year, while steel and corn have fallen in price.

Finance: Bloomberg: Floods in Central Europe will cause significant losses for insurance companies. The Hungarian central bank has suspended interest rate cuts. The world's longest-serving central bank chief may get another term. Germany sold part of its stake in Commerzbank to Italy's UniCredit for 702 million euros. China's central bank has cut interest rates, will consider further support by the end of the year. Air Bank Group's net profit rose by five percent in the first half of the year to CZK 1.3 billion. Hypoindex: The average mortgage rate fell by 0.04 points in September to 5.38 percent. The Swiss central bank has reduced the base interest rate by a quarter of a point to 1.00 percent. The Russian central bank has increased the base interest rate by one percentage point to 19 percent. Survey: Almost 70 percent of Czech adults save for retirement somehow. The Bank of Japan left interest rates unchanged. Czech National Bank: Banks' net profit rose by eight percent in the first half of the year to CZK 59.9 billion. UniCredit bought more Commerzbank shares, may become the largest shareholder. The Fed lowered the base interest rate by half a point to a range of 4.75 to 5.00 percent. Ministry of Finance: The number of new building savings contracts increased by 4.1 percent in the first half of the year. Of the commodities on the markets this year, gold and cocoa became more expensive, while cotton and wheat became cheaper.