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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 inflation rate in Japan rose to 3.3 percent in October, and services are also becoming more expensive. The German economy fell by 0.1 percent quarter-on-quarter in the third quarter. Chains are reacting to VAT changes with actions, according to analysts, it is mainly marketing. Inflation in Germany surprisingly fell significantly in November, to 2.3 percent. The economic downturn in the third quarter was more pronounced than the Czech National Bank expected. Czech National Bank: Czech household debts to banks rose to CZK 2.24 trillion in October. The British economy fell slightly in the third quarter, a recession is looming. The minimum wage will increase to CZK 18,900, four out of eight guaranteed wages will increase. Slovaks are taking early retirement en masse, companies see this as a risk. CNB: Czech household debts to banks rose to CZK 2.244 trillion in November. CNB has cut interest rates, according to Michl, inflationary pressures are fading. Analysts expect a slowdown in annual inflation to seven percent in November. Institutes: The German economy will grow significantly slower than expected next year. Experts: Inflation in the Czech Republic will weaken next year, the economy is expected to recover slightly. Approximately 100,000 people will have to file property tax returns in January. Business activity in the eurozone surprisingly decreased again in December. Inflation in November was 7.3 percent, experts expect a sharp decline in January. The price of Russian Urals oil fell in November, but remained above the price ceiling. S.A.B. Aerospace increased sales by 70 percent last year to CZK 185 million. One of the most cited Czech economists, Milan Zelený, has died, aged 81. Bloomberg: According to analysts, the eurozone economy will enter a recession. Analysis: Budget expenditures for 2024, adjusted for inflation, correspond to 2019. The Slovak Central Bank expects faster GDP growth and significantly lower inflation. Year-on-year price growth slowed to 7.3 percent in November, the Czech Statistical Office announced. The global value of mergers and acquisitions fell below three trillion dollars this year. CNB: The balance of payments ended the third quarter with a surplus of CZK 4.6 billion.

Stock exchanges: Bloomberg: The fall in the price of lithium is deepening, already reaching 75 percent this year. The price of emission allowances in the EU fell below 72 euros per ton due to the slowdown in industry. The price of cocoa on the London market has increased this year by the most since 1989. The price of gold has increased by the most in three years this year and ended above 2000 USD.

Finance: Moody's has worsened the outlook for China's credit rating from stable to negative. The Hungarian central bank has again reduced the base interest rate by 0.75 percentage points. Retail investors invest significantly more in ETFs than institutions, a survey has found. Fuchs runs the combined online comparison sites Srovnejto.cz, Klik.cz and ePojisteni.cz. Survey: Over 27 percent of Czechs rate 2023 as financially successful, more than last year. Bloomberg: Billionaire Vítek founded companies in the emirate of Abu Dhabi. Over 400,000 people activated the contact-based payment service in one month. Turkey has raised its base interest rate to 40 percent due to high inflation. The ECB is imposing stricter requirements on France's Société Générale due to risk. The German central bank has significantly worsened the economic outlook for next year. The value of American households' assets fell for the first time in a year in the third quarter. Banks have begun to reduce mortgage rates, with Moneta, KB and Raiffeisenbank announcing a decrease. Analysis: The Czech Republic is among the countries in Europe with the highest increase in the number of card payments. Raiffeisenbank analysts: Czech GDP will grow by 1.7 percent next year. The US central bank has not changed interest rates, indicating a reduction next year.