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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: IMF mission: Czech economy to grow by 2.6 pct this year, 3.5 pct next year. Industrial producer prices rose by 9.9 pct year-on-year in September, the most since 1993. The crown strengthened below 25.20 CZK/EUR and is the strongest since the end of February 2020. Analysts: Industry fell in September due to a shortage of parts for car production. Exporters: Exports from the Czech Republic will be a record 3.8 trillion this year, but the balance will be negative. The Czech National Bank will resume the sale of part of the proceeds from foreign exchange reserves after nine years. According to the Czech National Bank, Czech household debts to banks exceeded two trillion crowns. The richest ten percent of Americans own a record 89 percent of stocks in the US. IMF: El Salvador should not use the cryptocurrency bitcoin as legal tender. Economists say inflation is still not at its peak, it will be as high as seven percent. Expensiveness spoils Russians' enjoyment of the New Year holidays. North Korea is looking for new solutions to food shortages, raising black swans for food. The Czech National Bank's foreign exchange reserves rose to 150.5 billion euros in November. Businesses: The CNB's sharp increase in interest rates will hit Czech companies hard.

Stock exchanges: The EU and the US have resolved the protracted dispute over tariffs on aluminum and steel introduced by Trump. The price of gold rose to a monthly high after the dollar and bond yields weakened. Metal processor Saker's sales increased to 2.374 billion crowns last year. Týnský Kovostroj expects record sales, interest in window profiles is huge. Gold price hits five-month high after US inflation report. EU, US to begin talks on global deal on sustainable steel and aluminium.

Finance: Pandemic increases super-rich share of global wealth. Survey: 70 percent of people study loan terms for at least an hour. Banks will pay more into reserves to protect credit market. EBRD invests ten million euros in green bonds of Photon Energy Group. Australian company Zip completes acquisition of Czech fintech Twisto. Komerční banka's profit rose by 40.7 percent in three quarters to CZK 8.6 billion. Czechs plan to spend an average of CZK 12,700 for Christmas, survey shows. Goldman Sachs' quarterly profit surges, surpassing expectations. Chinese developers are having trouble finding buyers for their billion-dollar assets. Acquisition Capital claims can be filed until November 1. The study found that only a handful of people and companies still hold the most bitcoins. Czech National Bank: Banks provided mortgages for CZK 301 billion this year, 76 percent more year-on-year. Precious metals are getting cheaper this year, industrials have become more expensive by tens of percent. Trinity Bank doubled its profit for the entire year of 2020 in September. The Polish central bank raised interest rates the most since 2000. The Hungarian central bank raised the base interest rate again. The Russian central bank significantly increased the base interest rate - to 7.5 percent. Indian Paytm shares fell by more than a fifth during their debut on the stock exchange. G7 officials approved principles for central bank digital currencies. Association: The popularity of savings increased in the 4th quarter of the year after the previous decline. Fincentrum: The volume of mortgages increased by 90 percent this year, last year was a record. The South Korean central bank raised the interest rate for the second time this year. The Turkish central bank, despite high inflation and a weak currency, lowered interest rates again. The Russian Expobank, which also does business in the Czech Republic, is negotiating the sale of its activities in Europe. The British central bank did not raise interest rates, but the pound weakened significantly.