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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: Analyst: CNB increased support for the crown to CZK 246 billion in July. Confederation of Industry: Companies need a unified European solution to the energy crisis. According to Vestager, the importance of antitrust authorities is growing in the crisis. Fiscal Council: After the relaxation of rules, there is a lack of motivation to consolidate finances. The Swiss Central Bank has ended the era of negative interest rates in Europe. The Śląskie engineering company became the company of the year in South Moravia, the blacksmith became the sole proprietor. Matovič: EU finance ministers agreed today on a CZK 5 billion loan for Ukraine. CNB: Banks' net profit increased by CZK 23.6 billion to CZK 54.6 billion in the first half of the year. Survey: Unavailability of raw materials affects 70 percent of Czech companies. AP: Bakery in Cologne to close after significant energy price hike after 90 years. Analysts: August unemployment increase signals approaching recession. Eurogroup: Inflation in EU countries is between six and 20 percent, it must be reduced. Foxconn CZ ended last year with a loss of CZK 282 million, sales fell to CZK 78 billion. Inflation in Hungary rose to 15.6 percent, mainly food prices are rising. Analysts: The European Central Bank's rate hike will increase pressure on the crown. Year-on-year inflation reached 17.2 percent in August, the growth rate slowed down after about a year. Inflation exceeded market expectations, according to analysts it is close to its peak. Stanjura: Despite the pandemic and the effects of the war, fiscal discipline cannot be neglected. Eurometaux: The energy crisis is an existential threat to metal production in Europe. Queen Elizabeth II was one of the richest people in the world. The Czech National Bank will issue a thousand-koruna note with an overprint for the 30th anniversary of the currency separation. European finance ministers and governors will meet in Prague on Friday and Saturday. The IMF has again worsened the outlook for global economic growth for next year. Reuters: German bakers are burning due to rising energy prices. Inflation rose to 18 percent in September, and according to the Czech National Bank and analysts, it is nearing its peak. Three Americans have won the Nobel Prize in Economics for their research on banks and financial crises. The Swedish Central Bank has increased its main interest rate by the most since 1992. The Czech National Bank Council today left the rate to protect the credit market unchanged. Central Bank: Banknotes with the Queen's image remain legal tender. Study: The number of corporate bankruptcies in August was among the highest this year. Millions of Britons are looking for a second job due to the rising cost of living. Eurochambres: The energy crisis must also be addressed by capping energy prices. An informal meeting of European finance ministers and governors continues in Prague. The Hungarian central bank has raised interest rates to 13 percent, a surprisingly significant amount. Experts do not have much faith in the estimated yield of the tax on extraordinary profits. The Ministry of Finance will propose a 60 percent tax on extraordinary profits for banks, refineries and miners.

Stock exchanges: Bruegel: European governments have allocated 500 billion euros to help energy consumers. Analyst: The stock exchange price of gas has increased by 120 percent this year, precious metals have become cheaper.

Finance: A Lebanese woman was fined and banned from traveling for robbing a bank. The US is establishing a fund to help Afghans, money will be transferred from frozen accounts. New Hypoindex: The average mortgage rate has fallen for the first time since May 2021. Media: JPMorgan wants to move from Frankfurt to London due to concerns about electricity shortages. Association: The popularity of savings fell sharply in the third quarter. Komerční banka shareholders will decide on the dividend from November 6 to 21. Comparator: Almost a third of bonds on the Czech market are risky.