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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: Analysts: Czechs became poorer in the second quarter at the highest rate in the country's history since 1993. Hungarian central bank raised the base interest rate by a percentage point to 11.75 pct.. National Assembly to raise entrance fees from September, this year will pay three times more for energy year-on-year. Business unions: Czech Republic should not copy German solutions to energy crisis. Number of corporate bankruptcies in England and Wales is at its highest since 2009. Association: Companies are fighting for survival due to energy prices, immediate government assistance is needed. According to the German government, anti-Russian sanctions are effective and harm Russia more than the EU. In the opening round, the Chamber of Deputies supported an increase in this year's deficit to CZK 330 billion. According to Goldman Sachs, inflation in Britain could exceed 22 percent next year. Senator Chalánková proposed constitutional enshrining the right to cash payments. China unexpectedly cut interest rates after weak static data for July. FT: European office market faces biggest test since financial crisis. According to one banker, the eurozone needs another significant interest rate hike in September. Eurometaux: Energy crisis is an existential threat to metal production in Europe. The Czech Republic is the fastest-indebted country in the EU, warns the SAO. EU ministers will discuss solutions to unforeseen events in Prague. The Czech Republic is the fastest-indebted country in the EU, warns the SAO. Purchasing Managers' Index: Conditions in industry worsened in August. Síkela: The government will discuss options for a state-owned energy trader on Wednesday. The strongest Slovak government movement has proposed raising taxes and introducing a new one. Activity in the eurozone manufacturing industry has fallen for the first time in two years. Companies in the EU ceramic industry are looking for a way to survive the strong rise in energy prices. Salomon will submit a package of proposals to the government to reduce the administrative burden. ZEW: Investor confidence in the German economy fell in August due to inflation. Analyst: The Czech National Bank increased support for the crown to CZK 246 billion in July. Car manufacturers report lower demand in Europe and North America. The inflation rate in Turkey has risen to 80.2 percent, the growth rate is slowing. Real wages have fallen by 9.8 percent, and according to analysts, people have become the poorest since the founding of the Czech Republic. The Vysočina region has hundreds of millions more tax revenues, while costs are rising. Analysts: The foreign trade deficit is deepening due to the import of expensive raw materials. Eurochambres: The energy crisis must also be addressed by capping energy prices. The banking association has improved its estimate of Czech economic growth for this year to 2.4 percent. Prague will give city halls CZK 265.95 million to help families threatened by inflation.

Stock exchanges: The Russian company Alrosa is again selling large quantities of diamonds, especially to India. The price of electricity on the Prague stock exchange exceeded 1,000 euros per megawatt hour today. The price of electricity on the German stock exchange exceeded 500 euros per megawatt hour for the first time. European energy prices are falling as the EU plans to intervene in the crisis. Demand for gold increased by 12 percent in the first half of the year to 2,189 tons.

Finance: Internet broker Robinhood Markets will lay off 23 percent of its employees. The European Commission has officially ended its tightened supervision of Greece's economy. Media: JPMorgan wants to move from Frankfurt to London amid concerns about electricity shortages. June brought a slight increase in household deposits, a significant decrease in businesses. Economists: The decline in the mortgage market will continue in the coming months. Mortgage rates rose to 5.4 pct, the volume fell by more than a third month-on-month. Expert: Sberbank cz's largest creditor is the Financial Market Guarantee System.