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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: Experts: Chip deliveries to the automotive industry will only return to normal next year. The Ministry of Finance wants to raise the limit for mandatory VAT payment to two million CZK, asks Brussels. According to economists, inflation is still not at its peak, it will be as high as seven percent. According to economists, industrial results indicate a slower economic recovery. The Nobel Prize in Economics is awarded to David Card, Joshua Angrist and Guido Imbens. Consumer confidence in the US fell to a seven-month low in September. Industrial producer prices rose by 9.9 percent year-on-year in September, the most since 1993. Fixed.zone received the CNB's approval for a public offering of shares today. Prouza: Rate hikes will be a problem for exporters, good news for customers. Investor confidence in the eurozone economy has fallen to its lowest level in six months. China's producer prices rose to a record high in September due to commodity prices. According to businessmen, expensive energy has already affected the production of companies, including the Duslo chemical company. Gasoline and diesel are the most expensive in almost 7 years, and analysts say the price will continue to rise. The crown strengthened below 25.20 CZK/EUR, making it the strongest since the end of February 2020. According to economists, inflation will exceed five percent by the end of the year and the Czech National Bank will further increase rates. IMF: Introducing cryptocurrencies as legal tender is unreasonable and risky.

Stock exchanges: 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. EU and US resolve protracted dispute over tariffs on aluminum and steel introduced by Trump. The price of gas in the US has fallen from a seven-year high, but interest in the raw material persists. Duchcov-based producer of semi-finished metal products faces a shortage of material. The world's largest diamond miner warned that supplies will be limited for several years.

Finance: Moneta's net profit has increased by more than half to CZK 2.9 billion. Receivables for Acquisition Capital can be registered until November 1. The Hungarian Central Bank has increased the base interest rate to 1.65 percent. The head of the German central bank Jens Weidmann is resigning for personal reasons. UniCredit: The advantage of buying residential real estate has further decreased significantly. The Czech National Bank has no objections to ČSOB's intention to pay a dividend of CZK 4.1 billion this year. The quarterly profit of the American bank JPMorgan has increased by 24 percent. The Danish central bank has slightly reduced interest rates. Expensive oil has increased the assets of the Russian state investment fund to a record. Reuters: China's Evergrande missed the deadline for paying interest on bonds. Economist: Current inflation will last for several more years. Trinity Bank in September created double the profit for the whole of 2020. The Russian Central Bank significantly increased the base interest rate - to 7.5 percent. Česká spořitelna earned a third more in the first three quarters than a year ago. Profits of Citigroup, Morgan Stanley and Bank of America exceeded expectations. Deposits of residents in banks increased by 9.3 billion in August and exceeded three trillion CZK. The study found that only a handful of people and companies still hold the most bitcoin. Interest in bonds for citizens in the 12th issue was record, the state launched a new issue. According to the minutes of the meeting, the Fed could limit bond purchases in November. Fincentrum: The volume of mortgages increased by 90 percent this year, last year was a record. Banks will not immediately respond to the CNB rate increase by raising the price of loans. G7 officials approved principles for central bank digital currencies. The Norwegian central bank increased the base interest rate from zero to 0.25 percent.