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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: ČNB Spokesperson Krmelová will head a different department of the central bank from January 15. Analysis: Inflation in the Czech Republic was the fifth highest in Europe in December, and the sixth in November. Bloomberg: The transition to electric cars threatens suppliers in the Czech Republic and Slovakia. Inflation in Slovakia slowed in December, but remained in double digits for the whole year. Survey: Global economic growth will reach 2.6 percent this year, accelerating next year. The German economy fell by 0.3 percent last year under the pressure of global crises. Experts: Investors' distrust is behind the November decline in housing construction. Survey: 29.8 percent of Czech companies encounter obstacles in the EU market. TPA: The number and volume of transactions on the Czech mergers and acquisitions market increased in the 4th quarter. Germany is no longer threatened with a gas shortage during the winter, and supplies will be replenished quickly over the summer. Industrial and construction production fell in November, foreign trade did well. CRIF: 659 company bankruptcies were declared last year, 40 fewer than a year earlier. Analysts: Unemployment rose in December mainly due to seasonal effects. Kupka: The Czech Republic will report a public deficit to GDP of 2.2 percent, i.e. within the limit for the euro. PwC: Optimism among business leaders has doubled worldwide in the last year. Analysts: Inflation fell faster in December thanks to cheaper food. The integration of AI in companies is now a necessity, said Pejša from Creative Dock in Davos. The Ministry of Finance expects economic growth of 1.2 percent this year, inflation of 3.1 percent. DPA: Inflation in Turkey - when butter and meat become a luxury. Analysts estimate December inflation between 7.2 and 7.5 percent and 10.8 percent for the year. A record 282,658 entrepreneurs closed down last year; the reason is data boxes. The number of banknotes and coins in circulation increased last year, their value fell. Analysts: Confidence in the economy does not indicate a strong rebound from the bottom. According to the central bank, the recovery of the German economy is delayed. PwC survey: Czech company bosses are more optimistic than a year ago. Unemployment in the Czech Republic rose in December, according to analysts due to the season. The state collected 1.39 trillion crowns in taxes last year, 17 percent more year-on-year.

Stock markets: CNBC: Copper prices could rise by more than 75 percent in the next two years. The Czech National Bank almost tripled the volume of gold in its reserves last year to 30.67 tons.

Finance: Hungary has the highest debt service costs in the entire European Union. The twenty largest hedge funds earned a record $67 billion last year. Wells Fargo bank increased its profit in the quarter thanks to lower costs. Survey: Czechs are most concerned about their health, neglect preventive checks. The ECB will probably cut interest rates in the summer, said central bank chief Lagarde. The Israeli central bank cut its base rate by a quarter of a percentage point. Goldman Sachs increased its profit in the quarter, while Morgan Stanley's profit fell. Hypoindex: The average mortgage rate fell to 5.96 percent in early January. Bloomberg: Chinese banks tighten approach to Russian clients due to US sanctions. China reduces banks' minimum reserve requirements, tries to support the economy. Association: Dynamic supplementary savings funds earned an average of 20.6 pct last year. Revenues of companies in the Partners financial group rose by 17 percent last year to CZK 4.1 billion. The Turkish central bank raised the base interest rate to 45 percent. Analysis: The price of gold in the Czech Republic has increased in the last three years, as has inflation. The debt of government institutions in the third quarter of last year rose to CZK 3.214 trillion. Banks provided mortgages worth CZK 150 billion last year, a quarter less year-on-year.