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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: Fiala: Czech Republic and Poland renewed cooperation on the Stork II gas pipeline. Czech household debts to banks rose by 8.5 billion to 2.12 trillion CZK in August. Foreign investors hold 27.1 percent of Czech government bonds. Reuters: German bakers are burning due to rising energy prices. Company of the Year in the Karlovy Vary Region is a wig seller, a violin maker is a sole trader. The Fed raised the base interest rate as expected, the rate is the highest since 2008. Vinyl producer GZ Media is considering moving part of its production outside the Czech Republic due to energy. Matovič: EU finance ministers agreed today on a 5 billion CZK loan for Ukraine. Síkela: The government will discuss options for a state energy trader on Wednesday. The CNB Council left the credit market protection rate unchanged today. Solomon will submit a package of proposals to the government to reduce the administrative burden. According to Goldman Sachs, inflation in Britain could exceed 22 percent next year. The CNB issues a silver commemorative coin with the Zátopek couple. The Japanese central bank has not changed interest rates, is promoting a loose monetary policy. Eurochambres: The energy crisis must also be addressed by capping energy prices. Inflation in Hungary has risen to 15.6 percent, mainly food prices are rising. Analysis: The number of bankruptcies increased by one tenth in the third quarter year-on-year to 172. Foxconn CZ ended last year with a loss of CZK 282 million, sales fell to CZK 78 billion. Study: The number of corporate bankruptcies was among the highest this year in August. Central Bank: Banknotes with the Queen's image remain legal tender. Analysts expect the CNB to maintain its seven percent interest rate. EU ministers will discuss solutions to unforeseen events in Prague. The British central bank is starting temporarily unlimited purchases of government bonds. The Czech Republic is the fastest-indebted country in the EU, warns the National Audit Office. European finance ministers and governors will meet in Prague on Friday and Saturday. An informal meeting of European finance ministers and governors continues in Prague. Association: Small rural shops are closing due to expensive energy, the situation will worsen. Zeman and local governments welcome the energy price ceiling, economists expect higher costs. Inflation in Turkey rose to 83.5 percent in September, the highest since 1998. King Charles III. will appear on British banknotes by mid-2024. Germany is preparing another package of inflation relief for its citizens for 65 billion euros. Czech household debts with banks rose by 8.4 billion to 2.11 trillion CZK in July. The British central bank is starting temporarily unlimited purchases of government bonds. Eurometaux: Energy crisis is an existential threat to metal production in Europe. Millions of Britons are looking for second jobs due to rising living costs. Companies in the EU ceramic industry are looking for a way to survive the strong rise in energy prices. The Swiss central bank has ended the era of negative interest rates in Europe.

Stock exchanges: The price of electricity on the Prague stock exchange exceeded 1,000 euros per megawatt-hour today. Rio Tinto will buy the remaining stake in Canadian Turquoise Hill for 3.3 billion USD. Bruegel: European governments have allocated 500 billion euros to help energy consumers.

Finance: ČSOB survey: Innovation is still lacking in the Czech Republic. Expobank CZ, which was bought by Banka Creditas, will be renamed Max banka. Media: JPMorgan wants to move from Frankfurt to London due to concerns about electricity shortages. Comparator: Almost a third of bonds on the Czech market are risky. Analysts: Time is not favorable for investments, real estate can bring nice appreciation.