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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 German central bank expects the economy to decline this quarter. Michl rejects an early interest rate cut, expects low inflation next year. Zamrazilová: Monetary policy was weaker than central banks would like. GDP in the 2nd quarter fell by 0.6 percent year-on-year, below the pre-pandemic level. Inflation in Slovakia slowed to 8.2 percent in September, the lowest since last year. The Czech National Bank has again left rates unchanged, according to Michl they will be higher than the forecast recommends. Association: Arms exports from the Czech Republic almost doubled last year to 30 billion crowns. Czech National Bank: Foreign debt of the Czech Republic rose to 4.381 trillion CZK in the 2nd quarter. The Czech National Bank has been reducing the credit market protection reserve rate to two percent since October. Study: Excise tax on sweetened beverages will bring billions and reduce obesity. The Chinese economy shows signs of stabilization, production and retail have improved. Study: In September, 869 companies were added in the Czech Republic, the second lowest number this year. Analysts: Inflation is falling due to the comparison base, the effect is being exhausted. According to analysts, the decline in inflation slowed down in August, and it is expected to be over eight percent. The Liberec Region's company of the year is the synthetic crystal manufacturer Crytur. According to analysts, the decline in agricultural prices should make food cheaper. Study: Older people have money, but merchants ignore it. According to analysts, the Czech National Bank will not change interest rates at the upcoming meeting.

Stock markets: FT: Can Europe be green without important minerals from China?. The price of gold has fallen to its lowest level in almost seven months, approaching $1,800 per ounce. The Czech National Bank has more than doubled its gold reserves in the first three quarters. Oil prices are falling ahead of the US central bank's decision. The price of gas in Europe has reached its highest level since February, rising by 45 percent in a week. FT: Uranium prices are at their highest in 12 years thanks to governments' interest in nuclear energy. Western companies want to reduce China's dominance by investing in synthetic graphite. Exports of gallium and germanium products in China stopped completely in August.

Finance: The Russian Central Bank has increased the base interest rate to 13 percent due to inflation. PPF Group had a net profit of CZK 17.4 billion in the first half of the year, compared to a loss of CZK 9.8 billion last year. IMF: The ratio of global debt to world economic output fell again last year. The Swiss central bank surprisingly left the base interest rate at 1.75 percent. FT: The Norwegian sovereign wealth fund has become the largest shareholder of the Swiss bank UBS. Hypomonitor: The volume of mortgages in August was the highest since June 2022, rates fell. Bank of America increased its quarterly profit by a tenth, but Goldman Sachs' profit fell. Study: Non-cash transactions will increase by 17 percent this year in the world to 1.3 trillion. DPA: The Russian economy is growing, but the impacts of the war in Ukraine are increasingly noticeable. Crowdfunding platforms have one last month to obtain a license from the Czech National Bank. Experts: The abolition of interest on bank reserves at the Czech National Bank will make loans more expensive or reduce deposit interest rates. Index: Czech debt is the tenth lowest in the EU, 46 percent of people in the Czech Republic have a loan. The Polish central bank has reduced the base interest rate by a quarter of a percentage point. The Japanese central bank continues its exceptionally loose monetary policy. The IMF has lowered its estimate of global economic growth for 2024, leaving this year unchanged. The Czech Republic is threatened by weak growth associated with higher inflation, warns economist Horská. Bauer Media and Netrisk will own Srovnejto.cz, Klik.cz and ePojisteni.cz in the Czech Republic. Roubini: The Eurozone and Britain must raise rates further due to the risk of stagflation. The Fed, as expected, left the base interest rate unchanged.