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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: Expensiveness spoils Russians' anticipation of the New Year holidays. Analysts: Industry fell in September due to a shortage of parts for car production. Developers: Tightening mortgage lending does not solve the housing shortage. Last week, CNB board members Michl and Dědek voted again for rates to remain unchanged. Inflation rose significantly in October to 5.8 percent and will continue to rise. Developers disagree on the consequences of the interest rate increase, even talking about a real estate bubble. CNB: The balance of payments ended the third quarter with a deficit of 76.7 billion crowns. Analysts: Wages will continue to grow, but high inflation will devalue them. Analysts: Inflation was mainly affected by the VAT exemption, but it will still grow. Year-on-year inflation accelerated to 6 percent in November and prices will continue to rise. SP: Three-quarters of companies have seen an increase in raw material and material prices. AP: Bulgarians are traveling en masse to Turkey, using the local currency's fall to make purchases. Unemployment in Germany fell to 5.2 percent in December, the lowest since the pandemic. CT: President of the Chamber of Commerce Vladimír Dlouhý is a candidate for governor of the Czech National Bank. Exporters: Exports from the Czech Republic will be a record 3.8 trillion this year, but the balance will be negative. The foreign exchange reserves of the Czech National Bank increased to 150.5 billion euros in November. CRIF study: The number of company bankruptcies in the Czech Republic was the highest last year since 2017. According to economists, inflation is still not at its peak, it will be as high as seven percent. Businesses: Czech economic growth will reach four percent in 2022. PwC survey: Three-quarters of Czech companies increased prices last year.

Stock markets: Analysts: Stocks have appreciated the most this year, bonds and gold have lost. The price of gold is losing almost four percent this year, the most since 2015. The price of uranium is increasing significantly due to unrest in Kazakhstan. WPIC: The platinum market will show the highest surplus in several years this year. Metal processor Saker's sales increased to 2.374 billion crowns last year.

Finance: The Fed intends to raise rates three times next year and end bond purchases in March. The Polish central bank has increased the main interest rate to 1.75 percent due to inflation. The central bank has warned against investing in virtual tokens. Bloomberg: PayPal is exploring the possibility of creating its own cryptocurrency. Analysts: The increase in the CNB's base rate will quickly be reflected in the rise in the cost of loans. Survey: 59 percent of Czechs will not be frugal at Christmas due to the financial situation. The price of gold has fallen by 7.5 percent this year, silver and platinum have become even cheaper. The Russian Central Bank has increased the base interest rate to 8.5 percent. Shares of Indian Paytm fell by more than a fifth during its debut on the stock exchange. Lending index: People can give up to 95,000 CZK more for an annual loan of 50,000 CZK. The Turkish Central Bank has reduced interest rates again despite high inflation and a weak currency. Bloomberg: Bonds from emerging countries performed best this year. Australian company Zip has completed the purchase of Czech fintech Twisto. EBRD invests ten million euros in green bonds of the Photon Energy group. Banks provided mortgages worth CZK 40.4 billion in October, slightly more than in September. The Czech National Bank will publish stress tests of banks with possible impacts of climate change next year. The Czech National Bank has tightened limits for providing mortgages since April 2022. The Volkswagen Group will invest around EUR 159 billion in the next five years. J&T: Most dollar millionaires in the Czech Republic and Slovakia are now most worried about inflation. Equity funds earned over 11 percent this year, bond funds lost 5.3 percent.