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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: CNBC: Economists disagree on the long-term development of the Russian economy. Real wages fell by 9.8 percent, according to analysts, people have become the poorest since the founding of the Czech Republic. Queen Elizabeth II was among the richest people in the world. According to the German government, anti-Russian sanctions are effective and harm Russia more than the EU. The Icelandic central bank raised the base interest rate to a six-year high. The banking association improved its estimate of the growth of the Czech economy for this year to 2.4 percent. The Washington Post: Ukraine is also losing raw material deposits in the war. ZEW: Investor confidence in the German economy fell in August due to inflation. Matovič: EU finance ministers agreed today on a loan of 5 billion CZK for Ukraine. Year-on-year inflation has accelerated again, but analysts were surprised by the slower pace. Association: Small rural stores are closing due to expensive energy, the situation will worsen. Turkey's inflation rate has risen to 80.2 percent, the growth rate is slowing. Analysts: The European Central Bank's rate hike will increase pressure on the crown. Malaysia's Supreme Court confirms 12-year sentence for ex-prime minister for corruption. Purchasing Managers' Index: Industrial conditions worsened in August. The Ministry of Finance's forecast is optimistic according to the Budget Forecast Committee. An informal meeting of European finance ministers and governors continues in Prague. The Czech Republic is the fastest-indebted country in the EU, warns the SAO. Online supermarkets are solving the problem of selling food in installments, allowing deferred payment. According to the Chamber of Commerce, the current economic crisis is worse than the pandemic. The CNB Council left the credit market protection rate unchanged today. Eurometaux: The energy crisis is an existential threat to metal production in Europe. Bartoš: EU cohesion funds can provide money for projects threatened by price increases. Fiala: The Czech Republic and Poland have renewed cooperation on the Stork II gas pipeline. While Britain is counting change, we are counting victims, said Olena Zelenská. FT: The European office market faces the biggest test since the financial crisis. Study: The number of corporate bankruptcies in August was among the highest this year. European finance ministers and governors will meet in Prague on Friday and Saturday. The Vysočina region has hundreds of millions more tax revenues, while costs are rising. Inflation in Hungary has risen to 15.6 percent, mainly food prices are rising. Analyst: The CNB increased support for the crown to CZK 246 billion in July. Business unions: Czech Republic should not copy German solutions to energy crisis. Germany is preparing another package of inflation relief for its citizens worth 65 billion euros. According to one banker, the Eurozone needs another significant increase in interest rates in September. National Theatre will increase admission prices from September, this year it will pay three times more for energy year-on-year. Eurogroup: Inflation in EU countries is between six and 20 percent, it must be reduced.

Stock exchanges: The price of electricity on the German stock exchange exceeded 500 euros per megawatt hour for the first time. The price of electricity on the Prague stock exchange exceeded 1,000 euros per megawatt hour today. European energy prices are falling because the EU plans to intervene in the crisis. Analyst: Gas has risen in price by 170 percent this year, oil by 30 percent, precious metals have become cheaper.

Finance: A man who forced a bank robbery to pay off his debts was released in Lebanon. The European Commission has officially ended its stricter supervision of Greece's economy. Index: Financial literacy of Czechs has improved slightly this year. Benchmark: Almost a third of bonds on the Czech market are risky. Mortgage rates rose to 5.4 pct, volume fell by more than a third month-on-month.