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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: In September, 53 corporate bankruptcies were declared in the Czech Republic, the third lowest number this year. The Chinese economy accelerated its growth rate to 3.9 percent in the third quarter. The British central bank begins temporarily unlimited purchases of government bonds. Inflation exceeded market expectations, according to analysts, it is close to the peak. The Fed raised the base interest rate as expected, the rate is the highest since 2008. Three Americans have won the Nobel Prize in Economics for research on banks and financial crises. The Australian central bank raised interest rates to a nine-year high of 2.60 percent. The British central bank begins temporarily unlimited purchases of government bonds. The Chinese economy has returned to growth, but concerns are being raised about further government steps. Holub: The Czech National Bank should raise interest rates at least once more due to inflation. Foxconn CZ ended last year with a loss of CZK 282 million, sales fell to CZK 78 billion. Analysts expect the Czech National Bank to maintain its seven percent interest rate. Vinyl producer GZ Media is considering moving part of its production outside the Czech Republic due to energy. According to the central bank, the German economy is apparently on the verge of recession. The Washington Post: Labor productivity in the US has fallen and no one knows exactly why. MPs will begin to consider the draft state budget for next year. The banking association offers up to CZK 50 billion instead of taxes to support the economy. According to Vestager, the importance of antitrust authorities is growing in the crisis. The Polish central bank surprisingly left the base interest rate at 6.75 percent. According to Schiller, the actual deficit in Stanjur's budget is CZK 470 billion. According to analysts, the Czech economy is entering a recession. The Japanese central bank has not changed interest rates, is promoting a loose monetary policy. The government has approved an increase in funding for film incentives to 1.4 billion crowns. According to the head of German employers, the crisis will not be overcome without state intervention. The company of the year in the Karlovy Vary region is a wig seller, a violin maker is a sole proprietor. The Swiss central bank has ended the era of negative interest rates in Europe. Analysis: The number of bankruptcies increased by one tenth in the third quarter year-on-year to 172. Agricultural union: The crisis needs to be addressed even at the cost of high deficits. The Konzum Ústí nad Orlicí cooperative slightly increased its profit to 24 million crowns last year. Inflation rose to 18 percent in September, and according to the CNB and analysts, it is nearing its peak. The British finance minister promises that he will be able to restore the confidence of financial markets. Survey: 70 percent of Czech companies are affected by the lack of raw materials. The Slovak Central Bank expects the Slovak economy to decline next year. Truss defended the economic plan that caused the British pound to weaken sharply.

Stock exchanges: The price of gas for the European market fell below 100 euros per MWh for the first time since June. Analyst: Gas and oil prices have risen by tens of percent this year, precious metals have become cheaper. France wants to open one of the largest lithium mines in Europe by 2027.

Finance: Credit Suisse shares are falling sharply, having already lost a record 60 percent this year. Credit Suisse bank has fallen into losses, will increase its capital by four billion CHF. Expobank CZ, which was bought by Banka Creditas, will be renamed Max banka. Study: Global banking revenues to grow by more than six percent annually. Komerční banka shareholders to decide on dividend from November 6 to 21. MP with supporters arrives at Beirut bank to withdraw frozen money. MF: MEPs approve final version of cryptocurrency regulation. Sberbank administrator to negotiate loan sale exclusively with Česká spořitelna.