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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: Analysts: June inflation cut to CNB target is surprising, koruna weakens. Analysts expect June inflation to be close to May's 2.6 percent. Goldman Sachs analysts have increased the probability of a recession in the US to 25 percent. CNB: Czech household debts to banks rose to CZK 2.293 trillion in May. Study: 342 companies went bankrupt in the Czech Republic in the first half of the year, four more than a year ago. Satisfaction with the standard of living of households is greater than with the country's economic situation. Study: The number of entrepreneurs in the Czech Republic is decreasing, there were 4,041 fewer in the first half of the year. Today is the last day to exchange invalid banknotes with a thin stripe in banks. Analysts: Global IT outage dealt another blow to supply chains. Analysts: May foreign trade results fell short of market expectations. Eurozone business activity slowed significantly in June. Coface: Czech companies are among the worst in the region in publishing financial statements. Sentix: Investor confidence in the eurozone economy fell again, to its lowest level since January. Analysts: June retail sales exceeded market estimates, but recovery is slow. Germany still faces gas shortages amid extreme cold, warns INES association. Czech National Bank cuts interest rate by half a point to 4.75 pct, koruna weakens.

Stock exchanges: Oil prices closed at their lowest levels since mid-June. Manganese extraction verification unit at Chvaletici is in continuous operation. Ball Aerosol aluminum can manufacturers in Velim saw their profits rise to 566 million CZK last year.

Finance: Commodity prices on the markets rose in the first half of the year, the index added three percent. Reuters: Central bankers in Central Europe are concerned about rapid wage growth. The profit of Russia's Sberbank could be a record again this year, said the CFO. The Czech National Bank imposed a fine of 1.8 million CZK on Fondee for errors in providing services. The American bank Goldman Sachs more than doubled its profit in the second quarter. The Hungarian Central Bank reduced the base interest rate to 6.75 percent. Two members of the Czech National Bank's bank board disagreed with the new reserve for banks. UniCredit Bank: Wealth is concentrated in men's accounts. The Russian Central Bank recommends that companies avoid sanctions using cryptocurrencies. Analysis: Banks are reducing interest rates on savings accounts, the highest is mostly below five percent. Survey: 55 percent of people in the Czech Republic manage to save regularly, more than a year ago. China's central bank surprisingly reduced the base interest rate to 1.70 percent. Gold and cocoa have become more expensive on the markets this year, while cotton and wheat have become cheaper. According to its boss, the Fed needs more evidence of a decline in inflation before it cuts interest rates. The Office of the Competition Commissioner has approved SAB Financial Group's purchase of a controlling stake in Trinity Bank. UniCredit: Central and Eastern European economies will grow by 2.7 percent this year. FT: Fintech company Revolut is preparing to sell shares for up to $500 million. As expected, the ECB left the base interest rate at 4.25 percent. J&T Arch fund has become the second largest shareholder of Tatry mountain resorts. Japan's central bank raises key rate to 0.25 percent. FT: Shipyard that built Titanic is fighting for survival; talks about emergency loan. Global outage affected 8.5 million Windows devices, Microsoft estimates. Swiss central bank cuts base rate by quarter point to 1.25 percent. Index: Average Czech investor in funds earned 5.7 percent in the first half. Česká spořitelna's net profit rose by a third to CZK 12.4 billion in the first half. CNB: Banks' net profit rose by 22 percent to CZK 25.9 billion in the first quarter.