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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: ECB head: Eurozone inflation will return to 2 percent target in 2025. Turkey's inflation rate fell for the first time in four months, to 61.4 percent. Survey: Almost half of Czechs think inflation is higher now than last year. CRIF: The number of bankruptcies of companies and entrepreneurs increased in the Czech Republic in October. The Czech National Bank added two commemorative silver coins to its 2025 plan. The Czech National Bank improved its estimate of this year's public finance deficit to 3.6 percent of GDP. Analysts: The foreign trade surplus is more likely due to a faster decline in imports. The Czech National Bank is putting a new 5,000-crown note into circulation, while the old ones remain in force. Activity in the eurozone's business sector is surprisingly continuing to decline, a survey has shown. Analysts: The decline in retail sales reflects concerns about economic developments. Unemployment in the Czech Republic fell to 3.5 percent in October, which surprised analysts. The Czech National Bank was concerned about price adjustments due to rising energy prices during rate negotiations. The Czech National Bank left the interest rate at seven percent, the crown strengthened significantly. Sales in services continue to decline, falling by 5.2 percent year-on-year in the third quarter. Consumer confidence in the US has fallen to a six-month low. The Czech Republic is the sick man of Europe, trapped in a mediocrity trap, wrote the daily Die Welt. The inflation rate in Hungary fell below ten percent in October for the first time since last spring. Prague's self-employed woman of the year: The best marketing is to be your own influencer. Imports to China unexpectedly increased in October, while exports fell more significantly. Michl: The Czech National Bank is leaving all options open for currency negotiations in November.

Stock exchanges: China will limit exports of graphite, an important raw material for batteries, starting in December.

Finance: Société Générale has lower revenues and profits for the quarter due to problems in France. The governor of the Polish central bank Glapiński defends himself against critics of his leadership style. The head of the Fed did not rule out further interest rate increases, referring to the strength of the US economy. The Russian central bank raised interest rates more significantly than expected. According to its head, the ECB will not cut interest rates for several more quarters. 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. Association: Non-banking companies provided 11 percent more money in three quarters. UBS had a loss of 785 million USD for the quarter due to the costs of taking over Credit Suisse. Raiffeisenbank's net profit fell by 27.5 percent this year to CZK 3.96 billion. Bank of America increased its quarterly profit by a tenth, but Goldman Sachs' profit fell. Index: Equity mutual funds lost money for investors in October, while bond funds made money. IMF: Rapid easing of monetary policy in the eurozone would be a costly mistake. Survey: 17 percent of Czech men and 25 percent of Czech women invest, with men investing more. IBM bought the Czech-American software company Manta. Entrepreneurs Tykač and Holeček established a foundation that will support the CEVRO school. The European Investment Bank will provide a loan of CZK 24 billion for the development of Czech railways. The Fed left the base interest rate unchanged, as expected. Moneta Money Bank's net profit fell by 3.7 percent year-on-year to CZK four billion. The British central bank has not changed interest rates, and does not expect them to be reduced soon. The largest Russian bank, Sberbank, had another record profit in the third quarter. Hypoindex: The average mortgage rate fell to 6.01 percent in early November. Bloomberg: Home Credit's activities in Vietnam are wanted by banks from Thailand and Korea. Křetínský: The EU is losing competitiveness against the US due to climate policy. Index: The average Czech investor in funds earned 5.1 percent by the end of September.