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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 Japanese economy accelerated its growth rate to six percent in the second quarter. Survey: Economic activity in the eurozone is weakening faster than expected. Unemployment rose to 3.5 percent, according to analysts, this is a seasonal development. Survey: Companies want to get rid of workers on a contract basis due to the upcoming changes. The Czech National Bank worsened the economic outlook, expecting GDP growth of 0.1 percent this year. The Czech National Bank slightly improved the estimate of the public finance deficit to 3.8 percent of GDP. Analysis: The Czech Republic still had the ninth highest inflation in Europe in July despite the decline. The Czech National Bank Board perceives the risk of premature interest rate cuts. The decision of the Czech National Bank Board on interest rate stability was unanimous. Kyocera AVX Components' net profit increased year-on-year to 171 million crowns. Unemployment in the EU remained at 5.9 percent in June, one of the lowest in the Czech Republic. The budget deficit at the end of July was 214.1 billion crowns, having decreased since June. CNB: Czech households' debts to banks rose to 2.21 trillion crowns in June. Russia will begin testing the use of a digital ruble among consumers. Survey: One in ten companies perceives the impact of the crisis on their business as very significant. The US economy surprisingly accelerated growth to 2.4 percent in the second quarter. The crown weakened by tens of cents after the CNB's decision to end interventions. Colliers: The industrial real estate market grew the most in five years.

Stock exchanges: The price of gold fell to a five-month low below $1,890 per ounce. The price of gold fell below $1,900 per ounce, the lowest since the end of June.

Finance: Revolut will suspend cryptocurrency activities in the United States. Association: Non-banking companies provided 5.5 percent more money in the first half. Komerční banka's profit in the first half fell by 2.9 percent year-on-year to CZK 8.1 billion. CNBC ranked Czech company Spendee among the world's top 200 fintech companies. The ECB, as expected, increased the base interest rate by a quarter of a percentage point. Pan Gongsheng was appointed the new governor of the Chinese central bank. The number of currency exchange offices in the Czech Republic has been decreasing for a long time, with six more leaving the market last year. Reuters: Broker eToro will sell shares on the secondary market for $120 million. Sberbank reported a record profit of 380.3 billion rubles for the quarter. Deutsche Bank's quarterly profit fell by 27 percent, but exceeded expectations. S&P downgraded Casino chain to speculative grade. CNB: Czech banks and insurance companies are quite resilient to economic downturn. Analysis: The volume of issued corporate bonds rose to CZK 11 billion in May. The Fed raised interest rates by 0.25 percentage points, as expected. Trinity Bank's gross profit rose by 37 percent in the first half of the year to CZK 427 million. Renáta Kellnerová wants to prepare her children to take over the reins at PPF Group. Partners' unconsolidated sales rose by 17.1 percent in the first half of the year to CZK 1.9 billion. Česká spořitelna's profit fell by 16 percent in the first half of the year to CZK 9.3 billion. The Russian Central Bank raised the base interest rate to 8.50 percent, surprising the market. UBS to pay $388 million fine for Credit Suisse's misconduct in Archegos case. Raiffeisenbank's net profit fell by 21 percent to CZK 2.37 billion in the first half of the year. Slovaks expect higher mortgage payments, most households can handle it, according to authorities. Hypoindex: The average mortgage rate fell to 6.19 percent at the beginning of August. CNBC: Fitch agency warns of downgrading dozens of banks, including JP Morgan. UBS to pay a large fine in the US due to mortgage securities.