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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: Inflation rose significantly in October to 5.8 percent and will continue to rise. The Ministry of Finance wants to raise the limit for mandatory VAT payment to two million CZK, asks Brussels. Year-on-year inflation accelerated to 6 percent in November and prices will continue to rise. SP: Three-quarters of companies recorded an increase in the prices of raw materials and materials. ČEZ received almost 1.5 billion CZK from the state, which is interest in the dispute over the tax on allowances. The Czech National Bank will resume the sale of part of the proceeds from foreign exchange reserves after nine years. The richest ten percent of Americans own a record 89 percent of shares in the USA. Unemployment in the USA fell to 4.2 percent, job creation fell short of estimates. Exporters: Exports from the Czech Republic will be a record 3.8 trillion this year, but the balance will be negative. North Korea is looking for new solutions to food shortages, breeding black swans for food. Experts: Chip supplies for the automotive industry will not return to normal until next year. Fuel prices in the Olomouc region have risen again since last week. Analysts: Wages will continue to grow, but high inflation will devalue them. JPMorgan: The crown and the ruble will perform better in inflation than other comparable currencies. The crown strengthened below 25.20 CZK/EUR, making it the strongest since the end of February 2020.

Stock exchanges: The price of gold rose to a five-month high after the report on high inflation in the US. For Škoda Auto, outages in magnesium supplies would mean significant restrictions. EU and US to begin negotiations on a global agreement on sustainable steel and aluminum. The price of zinc has increased significantly due to production outages, reaching its highest level in 14 years. Metal processor Saker's sales increased to 2.374 billion crowns last year.

Finance: Credit index: People can give up to 95,000 crowns more for an annual loan of 50,000 crowns. South Korea's central bank has raised its interest rate for the second time this year. Moneta's net profit has increased by more than half to 2.9 billion crowns. Hungary's central bank has raised its base interest rate again. Rockaway Blockchain Fund has invested over 110 million crowns in 1Inch. A study has found that only a handful of people and companies still hold the most bitcoin. The Russian central bank has significantly increased its base interest rate - to 7.5 percent. Česká spořitelna earned a third more in the first three quarters than a year ago. Australian company Zip completed the purchase of Czech fintech Twisto. The pandemic increases the share of the super-rich in global wealth. Precious metals are getting cheaper this year, industrials have become more expensive by tens of percent. Indian Paytm shares fell by more than a fifth during their debut on the stock exchange. Three-quarters of Czechs do not believe in investments, the elderly have the most knowledge. Association: The popularity of savings increased in the 4th quarter of the year after the previous decline. Volkswagen Group will invest around 159 billion euros in the next five years. Chinese developers are having trouble finding buyers for their billion-dollar assets. Experts: The tightening of mortgage lending is not surprising, banks are already complying. UniCredit: The advantage of purchasing residential real estate has further decreased significantly. The Hungarian Central Bank has increased the base interest rate to 2.1 percent. The Czech National Bank will publish stress tests of banks with possible impacts of climate change next year. Banks will pay more into reserves to protect the credit market. The head of the German central bank Jens Weidmann is resigning for personal reasons. The Polish central bank has increased interest rates the most since 2000. Survey: 59 percent of Czechs will not be frugal at Christmas due to their financial situation. Banks provided mortgages worth CZK 40.4 billion in October, slightly more than in September.