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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: Experts: Inflation in the Czech Republic will weaken next year, the economy is expected to recover slightly. According to analysts, inflationary pressures in the Czech Republic are clearly weakening. Analysis: Budget expenditures in 2024, when taking inflation into account, correspond to 2019. Survey: Companies expect higher inflation in 2024 as well, three quarters above five percent. The minimum wage will increase to CZK 18,900, four out of eight guaranteed wages will increase. The state collected 1.39 trillion crowns in taxes last year, 17 percent more year-on-year. The Slovak Central Bank expects faster GDP growth and significantly lower inflation. The CNB Bank Board is divided on the opinion on further rate cuts. According to analysts, October's industrial growth was more of a fluctuation than a change in trend. Analysts: Unemployment in December rose mainly due to seasonal factors. CRIF: 659 company bankruptcies were declared last year, 40 fewer than a year earlier. CNB: Czech Republic's foreign debt rose to CZK 4.546 trillion in Q3. FT: The number of bankruptcies is growing, the end of Covid aid and high interest rates are to blame. BCG data: The Czech Republic closed the fewest mergers in Q3 since 2014. Slovaks are taking early retirement en masse, companies see this as a risk. Analysts: The construction market cannot be expected to recover, it will fall even further this year. The inflation rate in Poland surprisingly slowed to 6.1 percent in December. Analysts expect annual inflation to slow to seven percent in November. CNB Vice Governor: The decision to adopt the euro requires broader political consensus. Czech Statistical Office and Czech National Bank: Net worth of Czech households last year was 3.77 million crowns. Chains react to VAT changes with actions, according to analysts, it is mainly marketing. The British economy declined slightly in the third quarter, a recession is looming. Analysts estimate December inflation between 7.2 and 7.5 percent and 10.8 percent for the year. Czech National Bank: Czech households' debts to banks rose to 2.244 trillion CZK in November. Survey: Inflation is feared by 49 percent of Czechs, it is the main source of concern. Experts: Investors' distrust is behind the November decline in apartment construction. Czech National Bank has lowered interest rates, according to Michl, inflationary pressures are fading. The inflation rate in Turkey accelerated to 64.8 percent in December, the highest in a year.

Stock markets: The price of gold rose the most in three years this year and ended above 2,000 USD. CNBC: Copper prices may increase by more than 75 percent in the next two years.

Finance: The Hungarian Central Bank has reduced the base interest rate by 75 points to 10.75 percent. Hypoindex: The average mortgage rate fell to 5.96 percent in early January. CNB: Banks' gross profit increased by 5.5 billion to 180.1 billion CZK in three quarters. State support for building savings is being halved. Bloomberg: Billionaire Vítek founded companies in the emirate of Abu Dhabi. Over 400,000 people activated the contactless payment service in one month. The US central bank did not change interest rates, but indicated that they would be reduced next year. Analysis: All participating pension savings funds made a profit for clients last year. ČSOB analysts: Inflation in the Czech Republic will fall next year, GDP growth will be weak. The value of American households' assets fell for the first time in a year in the third quarter. According to analysts, investments next year will hardly surpass this year's growth in stocks. Iran and Russia will not trade in dollars, but in their own currencies. Survey: Christmas will be more modest this year, 60 percent of Czechs will save on gifts. Banks have started to reduce mortgage rates, Moneta, KB and Raiffeisenbank announced a decrease. Survey: Over 27 percent of Czechs rate 2023 as financially successful, more than last year.