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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: According to one of the bankers, the eurozone needs another significant increase in interest rates in September. Stanjura: Despite the pandemic and the effects of the war, fiscal discipline cannot be neglected. Real wages fell by 9.8 percent, according to analysts, people have become the poorest since the founding of the Czech Republic. Study: The number of corporate bankruptcies was among the highest this year in August. Fiala: The Czech Republic and Poland have renewed cooperation on the Stork II gas pipeline. The Malaysian Supreme Court has upheld a 12-year sentence for the ex-prime minister for corruption. The leader of the Italian League party wants 30 billion euros for companies due to expensive energy. Fiscal Council: After the relaxation of rules, there is a lack of motivation to consolidate finances. The Czech Republic is the fastest-indebted country in the EU, warns the SAO. The British central bank has raised interest rates despite the expected economic recession. Prague will give city halls 265.95 million CZK to help families threatened by inflation. The strongest Slovak government movement has proposed raising taxes and introducing a new one. The Hungarian central bank has raised interest rates to 13 percent, surprisingly significantly. Reuters: German bakers are burning due to rising energy prices. Association: Companies are fighting for survival due to energy prices, immediate government assistance is necessary. Analysts: The European Central Bank's rate hike will increase pressure on the crown. The Ministry of Finance's forecast is optimistic according to the Budget Forecast Committee. EU ministers will discuss solutions to unforeseen events in Prague. The British central bank is launching temporarily unlimited purchases of government bonds. The CNB Council today left the credit market protection rate unchanged. Inflation in Hungary has risen to 15.6 percent, mainly food prices are rising. EU ceramic companies are looking for a way to survive the strong rise in energy prices. The Hungarian central bank raised the base interest rate by a percentage point to 11.75 pct.. Analysts: Czechs became poorer in the second quarter at the highest rate in the country's history since 1993. Eurometaux: The energy crisis is an existential threat to metal production in Europe. AP: A bakery in Cologne will close after a significant increase in energy prices after 90 years. Matovič: EU finance ministers agreed today on a 5 billion CZK loan for Ukraine. Central bank: Banknotes with the image of the Queen remain legal tender. CNB: Banks' net profit rose by 23.6 billion CZK in the first half of the year to 54.6 billion CZK. Síkela: The government will discuss options for a state-owned energy trader on Wednesday. The informal meeting of European finance ministers and governors continues in Prague. The Swedish central bank has increased the main interest rate the most since 1992. The state and local governments spent CZK 12.6 billion on the refugee crisis at the end of July. Eurochambres: The energy crisis must also be addressed by capping energy prices. According to the Chamber of Commerce, the current economic crisis is worse than the pandemic. In the opening round, the Chamber of Deputies supported increasing this year's deficit to CZK 330 billion. Solomon will submit a package of proposals to the government to reduce the administrative burden.

Stock exchanges: The price of electricity on the Prague stock exchange exceeded EUR 1,000 per megawatt hour today. The Russian company Alrosa is again selling large quantities of diamonds, especially to India. Analyst: Gas has risen in price by 170 pct this year, oil by 30 pct, precious metals have fallen in price. European energy prices are falling because the EU is planning to intervene in the crisis.

Finance: Analysts: Time is not favorable for investments, real estate can bring a nice appreciation. New Hypoindex: The average mortgage rate has fallen for the first time since May 2021. Moscow court accepts the bankruptcy declaration of the Russian division of Google. ČSOB survey: There is still a lack of innovation in the Czech Republic.