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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 crown weakened by tens of cents after the CNB's decision to end interventions. CNB: Czech household debts to banks rose to 2.21 trillion crowns in June. AI will be the biggest bubble of all time, believes the director of Stability AI. The CNB's bank board's decision on interest rate stability was unanimous. Czech state debt exceeded three trillion crowns for the first time in the first half of the year. The markets are probably not estimating the start of rate cuts correctly, says a CNB board member. WIIW: Central and Eastern Europe needs a new economic model. Analysts: The labor market remains overheated, the economic slowdown has not been reflected. CVVM: The most people in the past 30 years perceive inflation as unacceptable. CRIF study: 333 bankruptcies of entrepreneurs were declared in July, the fewest this year. The US economy surprisingly accelerated growth to 2.4 percent in the second quarter. Survey: Clients asked 80 percent of companies to extend the invoice payment period. Inflation in Britain slowed to 7.9 percent in June, a weaker decline was expected. The Czech National Bank did not change the interest rate, ended the intervention regime to support the crown. The inflation rate in Turkey resumed growth in July, to 47.83 percent. FT: Interest of Chinese companies in mergers and acquisitions in the US is the lowest in almost 20 years. Chamber of Commerce: Lack of workers threatens strategically important projects. Unemployment fell further in June to 3.4 percent, the labor market remains overheated.

Stock markets: Bloomberg: Exxon in talks with Tesla, VW and other automakers about lithium supplies.

Finance: Reuters: SoftBank is considering listing its PayPay payment division on the US stock market. A supporter of the introduction of the euro defended the seat of the governor of the Bulgarian central bank. Index: The average Czech investor in funds earned 5.7 percent in the first half of the year. Komerční banka's profit in the first half fell by 2.9 percent year-on-year to CZK 8.1 billion. Partners' unconsolidated sales in the first half rose by 17.1 percent to CZK 1.9 billion. Australia's central bank will be led by a woman for the first time. S&P agency downgraded the Casino chain's rating deeper into the speculative zone. The Japanese central bank surprisingly changed its yield curve management policy. The financial literacy of Czechs has not changed according to the Czech Banking Association index. Goldman Sachs has a 62 percent lower profit due to write-offs and lower trading volume. Pan Gongsheng has been appointed as the new governor of the Chinese central bank. KB survey: Over two-thirds of Czechs now pay exclusively cashless. The Fed raised interest rates by 0.25 percentage points as expected. Revolut will suspend cryptocurrency activities in the United States. The number of corporate bankruptcies in Japan was the highest in five years in the first half of the year. JPMorgan increased its profit by 67 percent, Wells Fargo also has a higher profit, Citi's profit fell. Broker Consulting's sales grew by 5.7 percent last year to 2.8 billion crowns. Česká spořitelna's profit fell by 16 percent in the first half of the year to 9.3 billion crowns. Moneta's net profit in the first half of the year fell by 13.7 percent year-on-year to 2.5 billion crowns. Someone won 117 million euros, almost three billion crowns, in Hamburg. Deutsche Bank's quarterly profit fell by 27 percent, but exceeded expectations. UN: Global public debt rose to a record $92 trillion last year. Sberbank reported a record quarterly profit of 380.3 billion rubles. The Bank of England raised its key interest rate to 5.25 percent, as expected. The ECB raised its key interest rate by a quarter of a percentage point, as expected. The interest rate hikes have cost British households more than two trillion pounds.