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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: Study: The number of corporate bankruptcies in August was among the highest this year. Stanjura: Despite the pandemic and the effects of the war, fiscal discipline cannot be neglected. Millions of Britons are looking for second jobs due to rising living costs. Business unions: The Czech Republic should not copy German solutions to the energy crisis. Vinyl producer GZ Media is considering moving part of its production outside the Czech Republic due to energy. Queen Elizabeth II was among the richest people in the world. The state and local governments spent CZK 12.6 billion on the refugee crisis at the end of July. Analyst: The Czech National Bank increased support for the crown to CZK 246 billion in July. The Czech Republic is the fastest-indebted country in the EU, warns the National Audit Office. Austrian: If the EU finds an agreement, it could lead to calm in energy markets. Prague will give city halls CZK 265.95 million to help families threatened by inflation. The Czech Republic is the fastest-indebted country in the EU, warns the SAO. The Hungarian central bank has increased the base interest rate by a percentage point to 11.75 pct. Matovič: EU finance ministers agreed today on a CZK 5 billion loan for Ukraine. According to the Chamber of Commerce, the current economic crisis is worse than the pandemic. European finance ministers and governors will meet in Prague on Friday and Saturday. The Bank of England is temporarily launching unlimited purchases of government bonds. The Icelandic central bank has increased the base interest rate to a six-year high. The CNB Council today left the credit market protection rate unchanged. Year-on-year inflation reached 17.2 percent in August, the growth rate slowed down after about a year. Eurometaux: The energy crisis is an existential threat to metal production in Europe. Analysts expect the CNB to maintain its seven percent interest rate. Síkela: The government will discuss options for a state-owned energy trader on Wednesday. Czech household debts to banks rose by 8.4 billion to 2.11 trillion CZK in July. Companies in the EU ceramic industry are looking for a way to survive the strong rise in energy prices. The Fed raised the base rate as expected, the rate is the highest since 2008. King Charles III. will appear on British banknotes until mid-2024. Foreign investors hold 27.1 percent of Czech government bonds. Association: Companies are fighting for survival due to energy prices, immediate government assistance is needed. In the first round, the Chamber of Deputies supported increasing this year's deficit to CZK 330 billion. The company of the year in the Karlovy Vary region is a wig seller, and the sole trader is a violin maker. Truss defended the economic plan, which caused the British pound to weaken sharply. While Britain counts change, we count victims, said Olena Zelenská. Reuters: German bakers are burning with rising energy prices. According to the Budget Forecast Committee, the Ministry of Finance's forecast is optimistic. Czech households' debts to banks increased by CZK 8.5 billion in August to CZK 2.12 trillion. Inflation in Germany accelerated again in August to 7.9 percent after two months. Germany is preparing another package of inflation relief for its citizens worth EUR 65 billion.

Exchanges: The price of electricity on the Prague stock exchange exceeded 1,000 euros per megawatt hour today. European energy prices are falling as the EU plans to intervene in the crisis. Bruegel: European governments have allocated 500 billion euros to help energy consumers.

Finance: 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. Moscow court accepts the bankruptcy declaration of the Russian division of Google. US establishes a fund to help Afghans, money will be transferred from frozen accounts.