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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 government approved an increase in funding for film incentives to 1.4 billion crowns. Britain raised the base interest rate by 0.75 percentage points, the most in 33 years. Millions of Britons are looking for a second job due to the rising cost of living. The company of the year in the Karlovy Vary region is a wig seller, a violin maker is a sole trader. Three Americans have won the Nobel Prize in Economics for their research on banks and financial crises. Foreign investors hold 27.1 percent of Czech government bonds. The Czech National Bank has worsened its estimate of the development of the Czech economy, predicting inflation at 15.8 percent. The British central bank is temporarily starting unlimited purchases of government bonds. World Bank President: Help with energy bills for everyone is too expensive. The banking association offers up to 50 billion CZK instead of tax to support the economy. Eurozone inflation hit a record high again in October, rising to 10.7 percent. Shell does not pay windfall tax in Britain yet, it will legally avoid it. Inflation rose to 18 percent in September, and according to the Czech National Bank and analysts, it is approaching its peak. The Czech National Bank will issue a thousand-koruna note with an overprint for the 30th anniversary of the currency separation. Pirates will not propose a windfall tax for this year. The British central bank has raised interest rates despite the expected economic recession. Coface: Global economic growth should fall below two percent next year. Fiscal Council: There is no motivation to consolidate finances after the relaxation of rules. The Chinese economy has returned to growth, but further steps by the government are causing concern. The CNB's decision to keep the base rate unchanged is in line with analysts' expectations and was also expected by the market. According to the central bank, the German economy is apparently on the brink of recession. In September, 53 corporate bankruptcies were declared in the Czech Republic, the third lowest number this year. The IMF has downgraded its estimate of Czech economic growth for this year to 1.9 percent. MPs will begin discussing the draft state budget for next year. Vinyl producer GZ Media is considering moving part of its production outside the Czech Republic due to energy. The Bank of England is starting temporary unlimited purchases of government bonds. The CNB, as expected, has left the base rate unchanged at seven percent. The IMF has again downgraded its outlook for global economic growth for next year. The Norwegian central bank has raised its base rate again, the highest since 2009. The Australian central bank has raised its interest rate to a nine-year high of 2.60 percent. Agricultural Union: The crisis needs to be resolved even at the cost of high deficits. According to Schillerová, the actual deficit of Stanjur's budget is CZK 470 billion. Experts do not have much faith in the estimated yield of the tax on extraordinary profits. Nobel Prize laureates have pointed to the fragility of banks and the need for regulation.

Stock exchanges: The price of gas for the European market has fallen below 100 euros per MWh for the first time since June. Analyst: Gas and oil prices have increased by tens of percent this year, precious metals have become cheaper. Analyst: The stock exchange price of gas has increased by 120 percent this year, precious metals have become cheaper.

Finance: Expobank CZ, which was bought by Banka Creditas, will be renamed Max banka. Banks: The share of problematic bank loans in the Czech Republic stopped falling in September. The British government will cancel almost all planned tax cuts that have worried the markets. Credit Suisse bank plunges into losses, will increase capital by four billion CHF. Lebanese banks have suspended services to clients due to increasing raids. A member of parliament and supporters came to a Beirut bank to withdraw frozen money. Credit Suisse shares are falling sharply, having already lost a record 60 percent this year. Sberbank administrator will negotiate the sale of loans exclusively with Česká spořitelna.