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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 British central bank raised interest rates despite the expected economic recession. Foxconn CZ ended last year with a loss of 282 million CZK, sales fell to 78 billion CZK. The inflation rate in Turkey rose to 80.2 percent, the growth rate is slowing. The Hungarian central bank raised interest to 13 percent, surprisingly significantly. Síkela: The government will discuss options for a state energy trader on Wednesday. Central bank: Banknotes with the image of the Queen remain legal tender. The informal meeting of European finance ministers and governors continues in Prague. The Czech National Bank issues a silver commemorative coin with the Zátopeks. Business unions: The Czech Republic should not copy German solutions to the energy crisis. According to the head of German employers, the crisis will not be overcome without state intervention. Reuters: German bakers are burning due to rising energy prices. Eurometaux: The energy crisis is an existential threat to metal production in Europe. According to the German government, anti-Russian sanctions are effective and are harming Russia more than the EU. The Czech National Bank Council today left the credit market protection rate unchanged. European finance ministers and governors will meet in Prague on Friday and Saturday. Vinyl producer GZ Media is considering moving part of its production outside the Czech Republic due to energy. The Fed raised the base rate as expected, the rate is the highest since 2008. Solomon will submit a package of proposals to the government to reduce the administrative burden. Association: Small rural stores are closing due to expensive energy, the situation will worsen. The Japanese central bank did not change interest rates, it is promoting an easy monetary policy. Study: Number of corporate bankruptcies in August was among the highest this year. According to Goldman Sachs, inflation in Britain could exceed 22 percent next year. Central bank chief: German inflation could rise to 10 percent, recession looms. Real wages fell by 9.8 percent, analysts say people have become the poorest since the founding of the Czech Republic. Fiala: Czech Republic and Poland have renewed cooperation on the Stork II gas pipeline. Zeman and local governments welcome energy price cap, economists expect higher costs. Companies in the EU ceramic industry are looking for a way to survive the strong rise in energy prices. Czech household debts to banks rose by 8.4 billion to 2.11 trillion CZK in July. Activity in the eurozone business sector deepened the decline in August. The strongest Slovak government movement proposed raising taxes and introducing a new one. The Czech National Bank will issue a thousand-koruna coin with an overprint for the 30th anniversary of the currency separation. Prague will give city halls 265.95 million CZK to help families threatened by inflation. In the opening round, the Chamber of Deputies supported increasing this year's deficit to 330 billion CZK. EU ministers will discuss solutions to unforeseen events in Prague. According to the Chamber of Commerce, the current economic crisis is worse than the pandemic. The Hungarian Central Bank has increased the base interest rate by a percentage point to 11.75 percent. The Ministry of Finance's forecast is optimistic, according to the Budget Forecast Committee.

Stock exchanges: Analyst: Gas has risen in price by 170 percent this year, oil by 30 percent, precious metals have fallen in price. Expert: The price of gold fell sharply this week to an almost 2.5-year low. European energy prices fall as EU plans to intervene in crisis. Rio Tinto to buy remaining stake in Canada's Turquoise Hill for $3.3 billion.

Finance: Association: Savings popularity plummets in third quarter. ČSOB survey: Innovation still lacking in Czech Republic. Moscow court accepts bankruptcy filing of Google's Russian division. Media: JPMorgan wants to move from Frankfurt to London amid concerns over power shortages.