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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: Japanese GDP grew by 2.2 percent in the second quarter thanks to private consumption. Germany is preparing another package of inflation relief for its citizens worth 65 billion euros. Hungary's central bank raised the base interest rate by a percentage point to 11.75 percent. Bartoš: EU cohesion funds can provide money for projects threatened by price increases. Low river levels threaten Berlin's plans to strengthen energy security. The number of corporate bankruptcies in England and Wales is at its highest since 2009. Car manufacturers report lower demand in Europe and North America. ZEW: Investor confidence in the German economy fell in August due to inflation. Matovič: EU finance ministers agreed today on a 5 billion CZK loan for Ukraine. Inflation in Turkey rose to 79.6 percent in July, the highest in 24 years. Business unions: Czech Republic should not copy German solutions to energy crisis. Analysts: European Central Bank rate hike will increase pressure on the crown. Central bank chief: German inflation may rise to 10 percent, recession looms. States can also use money from EU funds to solve the energy crisis, Bartoš said. Analyst: Czech National Bank doubled support for the crown to CZK 174 billion in June. Slovakia's strongest government movement proposed raising taxes and introducing a new one. In the opening round, the Chamber of Deputies supported increasing this year's deficit to CZK 330 billion. Agency: Investor interest in commercial real estate in the Czech Republic is growing, by 25 percent last year. EU ministers will discuss solutions to unforeseen events in Prague. Activity in the eurozone business sector deepened the decline in August. Czech household debt to banks rose by CZK 8.4 billion in July to CZK 2.11 trillion. Analysts: Bad weather threatens rice harvest, its price may increase inflation. Analysts: Czechs became poorer in the second quarter at the highest rate in the country's history since 1993. According to one of the bankers, the eurozone needs another significant interest rate hike in September. According to Goldman Sachs, inflation in Britain could exceed 22 percent next year. The Czech Republic is the fastest-indebted country in the EU, warns the SAO. The Czech Republic is the fastest-indebted country in the EU, warns the SAO. The Icelandic central bank has raised its base rate to a six-year high. According to the Chamber of Commerce, the current economic crisis is worse than the pandemic. The Turkish central bank has shocked financial markets by significantly cutting interest rates. Fiala: Czech Republic and Poland have renewed cooperation on the Stork II gas pipeline. Analysts: August unemployment increase signals approaching recession. Analysts: Foreign trade deficit deepens import of expensive raw materials. Banking association improves Czech economic growth estimate for this year to 2.4 pct. Informal meeting of European finance ministers and governors continues in Prague. Inflation rate in Turkey has risen to 80.2 percent, growth rate is slowing.

Stock exchanges: Ukrainian company Naftogaz has presented a new plan to postpone payments. The price of electricity on the German stock exchange has exceeded 500 euros per megawatt hour for the first time. European energy prices are falling as the EU plans to intervene in the crisis.

Finance: Economists: The decline in the mortgage market will continue in the coming months. Mortgage rates rose to 5.4 pct, volume fell by more than a third month-on-month. The European Commission officially ended its tightened supervision of Greece's economy. Index: Financial literacy of Czechs improved slightly this year. Société Générale plunged into losses due to its exit from Russia. New Hypoindex: The average mortgage rate fell for the first time since May 2021.