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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 worsens economic outlook, GDP expected to decline this year, weaker growth next year. Survey: Almost half of Czechs think inflation is higher now than last year. ČNB puts new 5,000-crown note into circulation, old ones remain valid. Investor survey: 52 pct. of people in the region believe that lithium mining can benefit. During rate negotiations, the ČNB was concerned about price adjustments due to rising energy prices. Inflation in Slovakia slowed to 8.2 percent in September, the lowest since last year. The inflation rate in Turkey fell for the first time in four months, to 61.4 percent. Inflation in Britain remained at 6.7 percent in September, a slight decline was expected. TPA: The number of mergers and acquisitions in the Czech Republic and their volume increased year-on-year in the 3rd quarter. Analysts: Planned tax changes will not affect the construction and real estate markets. Analysts: The CNB's decision to keep rates unchanged is due to higher October inflation and a weaker koruna. E15: The Czech National Bank will cut approximately 75 jobs out of 1,516 due to savings. Inflation rose to 8.5 percent in October, but according to experts, inflationary pressures are weakening. CRIF: The number of bankruptcies of companies and entrepreneurs in the Czech Republic increased in October. The British economy showed zero growth in the third quarter. IMF: Germany will probably become the third largest economy this year, dethroning Japan. Investment Association: The markets of the Czech Republic and Slovakia are no longer as interconnected as before 1993. Sales in services continue to decline, falling by 5.2 percent year-on-year in the 3rd quarter. The Czech National Bank has improved its estimate of this year's public finance deficit to 3.6 percent of GDP. In recent years, the Czech National Bank has intervened only under an exchange rate commitment and last year.

Stock markets: Gold rose to its highest level since the end of September due to the conflict between Israel and Hamas. The second largest American producer of synthetic diamonds went bankrupt.

Finance: Businessmen Tykač and Holeček have established a foundation that will support the CEVRO school. The British central bank has not changed interest rates, and does not expect them to be reduced soon. The profits of the six largest banks in the Czech Republic fell by 1.3 billion CZK year-on-year to 57.1 billion CZK. The head of the Fed did not rule out further interest rate increases, referring to the strength of the US economy. Komerční banka's profit fell by 4.9 percent to 12.4 billion CZK in three quarters. The Russian Central Bank raised interest rates more than expected. Russia's largest bank Sberbank again had a record profit in the third quarter. Hypoindex: The average mortgage rate fell to 6.01 percent in early November. Raiffeisenbank's net profit fell by 27.5 percent this year to CZK 3.96 billion. Buffett's company more than quadrupled its loss, but increased its operating profit. The net profit of the ČSOB group fell by five percent to CZK 13.6 billion in the three quarters. Moneta Money Bank's net profit fell by 3.7 percent year-on-year to CZK four billion. Study: Developers pay for projects in addition to their own capital most often from loans. Partners Bank plans to start operations for the public in March 2024. Reuters: China's Country Garden has not paid its debt repayment, creditors want to negotiate. Société Générale has lower revenues and profits in the quarter due to problems in France. Hypomonitor: Mortgage volume in September rose by 90 percent year-on-year, rates fell. China recorded a quarterly outflow of foreign direct investment. Bloomberg: Home Credit activities in Vietnam are wanted by banks from Thailand and Korea. Hypoindex: The average mortgage rate fell to 6.01 percent in early November. PPF Group had a net profit of 17.4 billion CZK in the first half of the year, compared to a loss of 9.8 billion last year. Italian banking group UniCredit increased its profit by 36 percent in the third quarter. JP Morgan and Wells Fargo increased their profits year-on-year, benefiting from the growth in interest income.