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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: Investment Association: The markets of the Czech Republic and Slovakia are no longer as interconnected as before 1993. Inflation in September was 6.9 percent, the decline exceeded the expectations of analysts and the CNB. Analysts: Czechs' concerns about the economic situation are behind the decline in retail sales. E15: The Czech National Bank will eliminate approximately 75 out of 1,516 jobs due to savings. The Chamber of Commerce proposes to abolish detailed records of vehicle logs. The German Central Bank expects the economy to decline this quarter. Study: 869 companies were added in the Czech Republic in September, the second lowest number this year. Study: Excise tax on sweetened beverages will bring in billions and reduce obesity. Inflation in Slovakia slowed to 8.2 percent in September, the lowest since last year. Study: Older people have money, yet traders ignore it. Zamrazilová: Monetary policy was weaker than central banks would like. Analysts: Decline in confidence in the economy points to a problem with the recovery. The Association of Research Organizations does not agree with cutting money for applied research. The Czech National Bank has again left interest rates unchanged, according to Michl, they will be higher than the forecast recommends. According to analysts, the decline in agricultural prices should make food cheaper. Michl: The Czech National Bank is keeping all options open for monetary negotiations in November. The inflation rate in the eurozone fell to 4.3 percent in September, a more moderate decline was expected. Inflation in Britain remained at 6.7 percent in September, a slight decline was expected.

Stock exchanges: Russian miner Alrosa has stopped selling diamonds, wants to support falling prices. The price of gas for the European market continues to rise, climbing to 50 euros per MWh. The price of gold rose to a weekly maximum due to the Middle East. The price of gas in Europe reached its highest since February, rising by 45 percent in a week. The Czech National Bank more than doubled the volume of gold reserves in the first three quarters. The export of gallium and germanium products in China stopped completely in August. The price of gold fell to its lowest level in almost seven months, approaching 1,800 USD per ounce. Reuters: The G7 group is preparing to announce an embargo on the import of Russian diamonds.

Finance: Britain has suspended interest rate increases, the base rate remains at 5.25 percent. The IMF has lowered its estimate of global economic growth for 2024, leaving this year unchanged. The Czech National Bank warns against a company that is misusing the name J&T Investiční společnost. IMF: In the event of an economic downturn, about five percent of banks may have problems. German investments in China fell from last year's record in the first half of the year. The wealth of Czech households increased last year, but the increase did not exceed inflation. Economist and former member of the CNB Bank Board Kamil Janáček has died. JP Morgan and Wells Fargo increased their profits year-on-year, benefiting from the growth in interest income. The Turkish central bank raised the base interest rate to 30 percent due to inflation. China has reduced the requirement for mandatory minimum reserves for banks for the second time this year. Partners Bank plans to start operations for the public in March 2024. Roubini: The Eurozone and Britain must raise rates further due to the risk of stagflation. The Russian central bank has raised the base interest rate to 13 percent due to inflation. The Polish central bank has reduced the base interest rate by a quarter of a percentage point. Reuters: China's Country Garden has not paid a debt payment, creditors want to negotiate. The Fed left the key interest rate unchanged, as expected. Benchmark: Corporate bond volume rose in July, but yields fell. Index: The average Czech investor in funds earned 5.1 percent by the end of September. Bank of America increased its quarterly profit by one tenth, but Goldman Sachs' profit fell.