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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: Today is the last day to exchange invalid banknotes with a thin stripe in banks. CNB: The Czech Republic's foreign debt rose by 230.6 billion to 4.853 trillion CZK in the first quarter. Analysts: Wage growth exceeded market expectations, may support consumption. Analysis: Construction companies estimate a 1.2 percent decline in construction this year. Slovakia's trade surplus was at this year's low of 367 million euros in May. Analysts: Czech industry fell the most in May since September last year. Analysts: The June reduction in inflation to the CNB target is surprising, the crown weakened. Study: There were 22.8 million dollar millionaires last year, the most since 1997. Spain will introduce a 15 percent tax for large companies, following up on an EU directive. Study: 342 companies went bankrupt in the Czech Republic in the first half of the year, four more than a year ago. Investor confidence in the eurozone economy is at its highest since the start of the war in Ukraine. Analysts: Development of agricultural producer prices gives hope for cheaper food. CNB: Czech households' debts to banks rose to CZK 2.293 trillion in May. IMF warns of the impact of generative artificial intelligence on the labor market. Football fans in Germany must expect sold-out hotels and full trains. Study: Seven percent more entrepreneurs went bankrupt in the first half of the year. There is time until the end of June to exchange invalid banknotes in banks. Study: Average wage in the Czech Republic in euros reached 1,779 euros, growing the least in the V4. Survey: Almost half of Czech companies use the euro in their operations.

Stock exchanges: The price of electricity on the German stock exchange exceeded 100 euros per megawatt hour. According to the WGC organization, miners are having problems maintaining the growth of gold mining. The price of copper has reached a record high of more than 11,000 dollars per ton. Gas for the European market is getting cheaper, the assumption of a shorter shutdown in Norway is helping. Norway has discovered Europe's largest deposit of rare earth metals. Commodity prices are generally increasing on the markets this year, their index added 5.5 percent.

Finance: The European Central Bank will probably cut interest rates. Banks provided mortgages worth CZK 23.7 billion in May, up 92 percent year-on-year. Capgemini: The number of dollar millionaires in the Czech Republic increased last year, their wealth increased. UniCredit: The economies of Central and Eastern Europe will grow by 2.7 percent this year. The Swiss Central Bank has reduced the base interest rate by a quarter of a point to 1.25 percent. The Russian Central Bank recommends that companies avoid sanctions using cryptocurrencies. Kellnerová: I got to know PPF after my husband's death, I was more decisive last year. The Japanese Central Bank has not changed interest rates, but intends to limit bond purchases. A third of central banks intend to increase gold reserves in the next 12 months. Allianz Trade: The world economy should grow by 2.8 percent this year and next. The largest Russian bank, Sberbank, increased its profit in the first half of the year. The Hungarian Central Bank has reduced the base interest rate to seven percent. ÚOHS: SAB Financial Group buys a controlling stake in Trinity Bank. Analysis: Inflation in Central Europe is recovering, in the Czech Republic it should be 3.7 percent in 2024. According to its boss, the Polish Central Bank will cut interest rates again in 2026 at the earliest. The profit of Russia's Sberbank could be a record again this year, said the financial director. Commodity prices on the markets increased in the first half of the year, the index added three percent. KKCG will issue bonds for at least five billion crowns. Partners enters Romania, acquires a third of Transilvania Broker de Asigurari. The financial literacy of Czechs has not changed according to the Czech Banking Association index.