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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: German inflation rate slows to 1.9 percent in August. Saudi oil revenues to fall more than expected this decade, IMF says. Reuters: China faces rising obesity due to economic problems and automation. Survey: Two-thirds of Czechs see current situation as economic crisis. Moody's: Most Russian-owned companies in EU are registered in the Czech Republic. Survey: 56 percent of small entrepreneurs considered closing their businesses. ČNB: Czech household debt rose to almost CZK 2.32 trillion in July. Excellent: Foresters will receive CZK 2 billion instead of CZK 500 million for farming next year. onsemi: Without investment incentives, production in Rožnov could not expand. According to the Ministry of Finance's prediction, the average wage in the Czech Republic could exceed CZK 54,000 within three years. Analysis: The share of companies in the Czech Republic that use a virtual office has increased to 25 percent. Sales of retailers accelerated growth in July, but according to analysts, it is still slow. The number of hundred-millionaires has increased by 54 percent in ten years, most in China and the USA. Prices in industry and construction grew in August, while in agriculture they fell again. The German economy will show zero growth this year, the Ifo Institute estimates. The average wage in the Czech Republic has increased to CZK 45,854, growth was below market expectations. Poles are upset that Draghi did not talk to them when writing the report on Europe's lagging behind. SAP: The introduction of AI would increase the value of domestic companies by an average of 16 percent. The Japanese economy grew at a rate of 2.9 percent in the second quarter, more was expected. AP: The Olympics were a success for Paris, but a disaster for some businesses. Analysis: Trade between Britain and the EU has fallen by more than a quarter in the past three years. Analysts expect another interest rate cut by the Czech National Bank, likely to 4.25 percent. Italian industrialists support a return to nuclear power to reduce energy costs. The Czech National Bank will replace banknotes and coins damaged in floods for people and companies.

Stock exchanges: The platinum market is likely to show its largest deficit in a decade this year. The price of gold is at another record, surpassing the $2,550 mark per troy ounce. The price of gold has exceeded $2,600 per troy ounce for the first time.

Finance: The world's longest-serving central bank chief may get another term. Partners Banka has 70,000 clients in six months, more than other new banks. Jet Investment Group sold the Třebíč-based Tedom Group to the Japanese Yanmar Group. IMF agreed with Ukraine to release another 1.1 billion USD. Analysis: Banks are reducing interest rates on savings accounts, the highest are around four percent. Reuters: More and more ECB officials are leaning towards a September interest rate cut. Hypoindex: The average mortgage rate in September fell by 0.04 points to 5.38 percent. China's central bank is introducing the largest measure to support the economy since the pandemic. MF: The number of new building savings contracts increased by 4.1 percent in the first half of the year. Analysts: The price of gold, which has been breaking records this year, is likely to continue to grow. The Swiss central bank has reduced the base interest rate by a quarter of a point to 1.00 percent. China's central bank has cut interest rates, will consider further support by the end of the year. Survey: Almost 70 percent of Czech adults save for retirement somehow. J&T Bank's net profit rose by 27 percent in the first half of the year to 3.94 billion crowns. Insurance company: Damage to agricultural land due to frost and hail will reach two billion CZK. Hungary's central bank has cut the base interest rate to 6.50 percent. Analysts: New mortgage rules may not make early repayments more expensive. The time has come to cut interest rates, said the head of the US central bank.