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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: The inflation rate in the US has risen to 6.8 percent, the highest in almost 40 years. January inflation will almost certainly exceed seven percent, says Holub from the Czech National Bank. SP: Three-quarters of companies have seen an increase in the prices of raw materials and supplies. The Ministry of Finance wants to raise the limit for mandatory VAT payment to two million CZK, asks Brussels. Analysts: Inflation was mainly affected by the VAT exemption, but it will still grow. The Czech National Bank will resume the sale of part of the proceeds from foreign exchange reserves after nine years. IMF: El Salvador should not use the cryptocurrency bitcoin as legal tender. Businesses: The Czech National Bank's sharp increase in rates will hit Czech companies hard. Expensiveness spoils Russians' enjoyment of the New Year holidays. Unemployment in the US fell to 4.2 percent, job creation fell short of estimates. ČEZ received almost CZK 1.5 billion from the state, which is interest in the dispute over the allowance tax. Industrial producer prices rose by 13.5 percent in November, the most since the founding of the Czech Republic. 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 CZK 25.20/EUR, making it the strongest since the end of February 2020.

Stock exchanges: Týnský Kovostroj expects record sales, interest in window profiles is huge. WPIC: The platinum market will show the highest surplus in several years this year. The price of gold rose to a five-month high after the report on high inflation in the US. WPIC: Platinum market to post highest surplus in years this year.

Finance: Commercial bank's profit up 40.7 percent to CZK 8.6 billion in three quarters. CNB: Banks provided mortgages worth CZK 301 billion this year, up 76 percent year-on-year. Three-quarters of Czechs do not believe in investments, older people have the most knowledge. The price of gold has fallen by 7.5 percent this year, silver and platinum have become even cheaper. Global Payments is launching the acceptance of cryptocurrencies through its payment terminals. The Fed intends to raise rates three times next year and end bond purchases in March. Deutsche Bank analyst: Real yields will probably remain negative for a long time. The Turkish central bank has cut interest rates again despite high inflation and a weak currency. Survey: 70 percent of people study loan terms for at least an hour. Banks will pay more into reserves to protect the credit market. Chinese developers have trouble finding buyers for their billion-dollar assets. Precious metals are getting cheaper this year, industrials have risen in price by tens of percent. According to the survey, about a third of people are not going to protect their savings against inflation. Lending index: People can give up to CZK 95,000 more for an annual loan of CZK 50,000. The Czech National Bank will publish stress tests of banks with the possible impacts of climate change next year. The Rockaway Blockchain Fund invested over CZK 110 million in the company 1Inch. The Russian Central Bank significantly increased the base interest rate - to 7.5 percent. UniCredit Bank: Demand for real estate has the character of a speculative bubble. Banks: Tightening the conditions for providing mortgages will not have a significant impact. Survey: 59 percent of Czechs will not be frugal at Christmas due to financial situation. British banking company Barclays doubled its quarterly profit. Hungary's central bank raised its base interest rate to a seven-year high of 2.4 percent. Banks provided mortgages worth CZK 40.4 billion in October, slightly more than in September. Australia's largest bank CBA will offer people cryptocurrency trading. Acquisition Capital claims can be filed until November 1. EBRD invests ten million euros in green bonds of the Photon Energy group.