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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 number of corporate bankruptcies in Germany increased by almost a quarter in the first half of the year. The Spanish central bank increased its GDP growth estimate to 2.8 percent thanks to tourism. The average wage in the Czech Republic rose to 45,854 CZK, growth was below market expectations. CZSO: The savings rate of Czech households fell slightly last year to 19.6 percent. Moody's: The Czech Republic has the largest number of Russian-owned companies in the EU. Italian industrialists support a return to nuclear power in order to reduce energy costs. Inflation in Poland rose for the fifth consecutive month in August, reaching 4.3 percent. Analysts: The deterioration in sentiment among companies and consumers in August is disappointing. Saudi oil revenues will fall more than expected this decade, according to the IMF. The Japanese economy grew significantly faster than expected in the quarter. Inflation in Hungary fell to 3.4 percent, the lowest in three and a half years. Prices in industry in the Czech Republic accelerated growth, while in agriculture they slowed down the decline. The budget deficit will be a maximum of CZK 231 billion next year, the state will not abolish the windfall tax. Analysis: Trade between Britain and the EU has fallen by more than a quarter in the last three years. Survey: The heads of the largest British companies have record incomes last year. CNB: Czech household debts rose to almost CZK 2.32 trillion in July. Economist Hampl: The Czech Republic did not sufficiently realize how the world has changed after 2019. IfW: The German economy will continue to decline this year. Inflation in the US was the lowest in more than three years in July. The average wage in the Czech Republic increased in real terms by almost four percent in the second quarter. Prices in industry and construction rose in August, while agriculture fell again. The Japanese economy grew at a rate of 2.9 percent in the second quarter, more was expected. onsemi: Without an investment incentive, production in Rožnov could not have expanded. Analysis: The share of companies in the Czech Republic that use a virtual headquarters has increased to 25 percent.

Stock exchanges: The price of gold is at another record high, surpassing the $2,550 per troy ounce mark. Wood Mackenzie: Replacing China in copper supplies is unfeasible. The price of gold has surpassed the $2,500 per troy ounce mark for the first time in history.

Finance: The Fed cut the key interest rate by half a point to a range of 4.75 to 5.00 percent. Germany sold part of its stake in Commerzbank to Italy's UniCredit for 702 million euros. Raiffeisen Bank shares are weakening after shares of its branch were frozen in Russia. In the first half of the year, 4.12 million people had supplementary pension insurance, 100,000 fewer than last year. Air Bank Group's net profit increased by five percent to CZK 1.3 billion in the first half of the year. Analysts: The price of gold, which has been breaking records this year, will probably continue to grow. Of the commodities on the markets, gold and cocoa have become more expensive this year, while cotton and wheat have become cheaper. Investors will buy back part of Revolut shares, valuing the company at $45 billion. Banks provided mortgages worth CZK 23.8 billion in July, up 109 percent year-on-year. Survey: Almost 70 percent of Czech adults save for retirement somehow. Analysts: Funds with quality bonds are among the most advantageous investments. MF: The number of new building savings contracts increased by 4.1 percent in the first half of the year. The Bank of Japan left interest rates unchanged. Hypoindex: The average mortgage rate fell by 0.04 points in September to 5.38 percent. Reuters: More and more ECB officials are leaning towards a September interest rate cut. Index: Mutual funds generally continued to make money for investors in July. Analysts: New mortgage rules may not make early repayments more expensive. UniCredit Bank: The disadvantage of investing in residential real estate has decreased.