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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: Year-on-year inflation accelerated to 6 percent in November and prices will continue to rise. Industrial producer prices rose by 13.5 percent in November, the most since the founding of the Czech Republic. Inflation in Slovakia rose to 5.8 percent in December, the highest in 17 years. Inflation in the EU rose to 5.2 percent, reaching a 20-year high. A group of mainly American millionaires called for taxation of the rich. The foreign exchange reserves of the Czech National Bank rose to 150.5 billion euros in November. The growth of business activity in the eurozone slowed in January, the omicron hit services. January inflation will almost certainly exceed seven percent, says Holub from the CNB. The price of gasoline in the Czech Republic stagnates below 36 CZK/l, diesel has further become slightly cheaper. Orbán: The government will reduce the prices of six basic foods from February. AP: Bulgarians are traveling en masse to Turkey, using the fall in the local currency to make purchases. The Czech National Bank does not rule out inflation above 10 percent at the beginning of this year. Deloitte: The economy will grow by 4 percent this year and reach the level before the pandemic. The Exporters' Association warns against raising CNB rates, saying it is losing hundreds of billions. ČT: President of the Chamber of Commerce Vladimír Dlouhý is a candidate for governor of the Czech National Bank. The IMF expects to increase the estimate of losses caused to the global economy by the pandemic. Developers disagree on the consequences of raising interest rates, even talk about a real estate bubble. PwC survey: Three-quarters of Czech companies increased prices last year. The German economy returned to growth last year, GDP increased by 2.7 percent. The government wants a tax cap, financial consolidation or the abolition of the EET. CT: President of the Chamber of Commerce Vladimír Dlouhý is a candidate for the governor of the Czech National Bank. 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 number and value of banknotes and coins in circulation increased last year.

Stock exchanges: Aluminum prices for European consumers are rising to records due to expensive electricity. Analysts: Stocks appreciated the most this year, bonds and gold lost. Sotheby's showed a rare 555-carat black diamond, it will be offered at auction in February. The price of gold is losing almost four percent this year, the most since 2015.

Finance: The ECB will end its emergency pandemic bond purchase program at the end of March. Poland's central bank raises key interest rate to 1.75 percent due to inflation. Mail on Sunday: British government to cut BBC funding. Developers: Higher mortgage rates won't affect speculative buyers. Credit Suisse boss resigns over Covid rule breach. Bloomberg: Emerging market bonds outperformed this year. Czech National Bank to publish stress tests on banks with potential climate change impacts next year. Russia's central bank proposes ban on cryptocurrency use and mining in Russia. US banks Morgan Stanley and Bank of America report quarterly profits. Investment crowdfunding platforms must have a Czech National Bank license. Italian bank MPS aims to raise €2.5 billion from share sale next year. Analysts: CNB's key rate hike will quickly translate into higher loan prices. China cuts key rate to 3.7 percent to boost economy. Stock funds have earned over 11 percent this year, while bonds have lost 5.3 percent. The Russian Central Bank has raised the base interest rate to 8.5 percent. An ATM in Rychnovsko was pouring out money, the finder handed over 144,000 CZK to the police. Bloomberg: PayPal is exploring the possibility of creating its own cryptocurrency.