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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: WSJ: Turks are buying more bitcoin and tether due to weak domestic currency. Inflation in Slovakia rose to 5.8 percent in December, the highest in 17 years. The number and value of banknotes and coins in circulation increased last year. CT: President of the Chamber of Commerce Vladimír Dlouhý is a candidate for governor of the Czech National Bank. PwC survey: Three-quarters of Czech companies increased prices last year. Czech National Bank: Balance of payments ended the third quarter with a deficit of 76.7 billion crowns. Unemployment in the US fell to 4.2 percent, job creation fell short of estimates. The Czech and Slovak economies were hit this year by problems with car manufacturers. Germany will help companies affected by high energy prices, the minister said. CRIF study: The number of company bankruptcies in the Czech Republic last year was the highest since 2017. IMF expects to increase the estimate of losses caused by the pandemic to the global economy. Exporters' Association warns against raising CNB rates, reportedly losing hundreds of billions. ČT: President of the Chamber of Commerce Vladimír Dlouhý is a candidate for governor of the CNB. The CNB does not rule out inflation above 10 percent at the beginning of this year. According to Prime Minister Bennett, Israel has become a superpower in cyber defense. Businesses: Czech economic growth will reach four percent in 2022. The German economy returned to growth last year, with GDP increasing by 2.7 percent. Year-on-year inflation accelerated to 6 percent in November and prices will continue to rise. The Chinese economy grew by 8.1 percent last year, the fastest in ten years. Rusnok: An increase in rates above five percent next year is extremely unlikely. The Czech National Bank's foreign exchange reserves rose to 150.5 billion euros in November. Orbán: The government will reduce the prices of six basic foodstuffs from February. Developers disagree on the consequences of the interest rate increase, they also talk about a real estate bubble.

Stock exchanges: Aluminum prices for European consumers are rising to record highs due to expensive electricity. The price of gold is losing almost four percent this year, the most since 2015. Gas continues to become significantly cheaper, the price for the European market has fallen below 100 euros per MWh. Experts: Precious metals fell last year, oil and industrial metals became significantly more expensive. De Beers significantly increased diamond prices, according to Bloomberg sources by about eight percent.

Finance: The central bank warned against investing in virtual tokens. The Polish central bank has raised the main interest rate to 1.75 percent due to inflation. The British government is preparing to freeze the BBC's concession fee for two years. Bloomberg: PayPal is exploring the possibility of creating its own cryptocurrency. The Hungarian central bank has raised the base interest rate to a seven-year high of 2.4 percent. The Czech National Bank will publish stress tests of banks with possible impacts of climate change next year. American banks Morgan Stanley and Bank of America increased quarterly profits. American bank Goldman Sachs increased both profit and revenue to a record last year. J&T: Most dollar millionaires in the Czech Republic and Slovakia are now most worried about inflation. ATM in Rychnovsko was spewing money, the finder handed over 144,000 CZK to the police. Sellers report an increase in sales by tens of percent before Christmas. Platforms providing investment crowdfunding must have a license from the Czech National Bank. The Russian central bank has increased the base interest rate to 8.5 percent. The Fed plans to raise rates three times next year and end bond purchases in March. Developers: Higher mortgage rates won't affect speculative buyers. Equity funds have gained over 11 percent this year, while bond funds have lost 5.3 percent. The Russian Central Bank has proposed a ban on the use and mining of cryptocurrencies on Russian territory.