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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: Michl rejects early interest rate cuts, expects low inflation next year. Association of research organizations disagrees with cutting money for applied research. GDP in the 2nd quarter fell by 0.6 percent year-on-year, below the pre-pandemic level. CVVM: 57 percent of people perceive the economic situation in the Czech Republic as bad. Inflation in Britain unexpectedly fell by a tenth of a point in August to 6.7 percent. Study: 869 companies were added in the Czech Republic in September, the second lowest number this year. Inflation in September was 6.9 percent, the decline exceeded analysts' and the CNB's expectations. The German central bank expects the economy to decline this quarter. Bloomberg: CEO departures from US companies are at a record high this year. Inflation in Britain remained at 6.7 percent in September, a slight decline was expected. The Chinese economy is showing signs of stabilization, with both manufacturing and retail sales improving. China's gross domestic product rose by 4.9 percent year-on-year in the third quarter. Analysts: Czechs' concerns about the economic situation are behind the decline in retail sales. The Czech National Bank has again left interest rates unchanged, according to Michl, they will be higher than the forecast recommends. Unemployment in the Czech Republic remained at 3.6 percent in September, the weak economy is not showing. Portuguese banker: ECB could reduce inflation to two percent sooner. According to analysts, the decline in agricultural prices should make food cheaper.

Stock markets: FT: Can Europe be green without important minerals from China?. FT: Uranium prices are at their highest in 12 years thanks to governments' interest in nuclear energy. The second largest American producer of synthetic diamonds has gone bankrupt. The price of gas for the European market continues to rise, climbing to 50 euros per MWh. The price of gold fell to its lowest in almost seven months, approaching 1800 USD per ounce. Gold rose to its highest level since the end of September due to the conflict between Israel and Hamas. The Czech National Bank more than doubled the volume of its gold reserves in the first three quarters. The price of gas in Europe reached its highest level since February, rising by 45 percent in a week. FT: Wheat prices are falling as Russia replaces Ukrainian supplies.

Finance: The Fed left the base interest rate unchanged, as expected. IMF: About five percent of banks may have problems in the event of an economic downturn. Italian banking group UniCredit increased its profit by 36 percent in the third quarter. Britain has suspended interest rate increases, the base rate remains at 5.25 percent. The Swiss National Bank surprisingly left the base rate at 1.75 percent. German investments in China fell from last year's record in the first half of the year. The Czech National Bank warns of a company that is misusing the name J&T Investment Company. Roubini: The Eurozone and Britain must raise rates further due to the risk of stagflation. The Japanese Central Bank continues its exceptionally loose monetary policy. Index: Czechs' debt is the tenth lowest in the EU, 46 percent of people in the Czech Republic have a loan. Analysis: Health insurance for foreigners has become 40 percent cheaper after the abolition of the monopoly. The Polish Central Bank has reduced the base rate by a quarter of a percentage point. Study: Non-cash transactions will increase by 17 percent this year in the world to 1.3 trillion. Křetínský: 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. Economist and former member of the CNB Bank Board Kamil Janáček has died. Comparator: The volume of corporate bonds increased in July, but yields fell. The CNB warned against the activities of entities that imitate the names of other companies. The Fed chief did not rule out further interest rate increases, referring to the strength of the US economy.