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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: Consumer confidence in the US fell to a seven-month low in September. Producer prices in China rose to a record high in September due to commodity prices. The Czech Republic's August foreign trade results disappointed analysts' expectations. IMF: Introducing cryptocurrencies as legal tender is unreasonable and risky. Bloomberg: Taxing empty apartments of rich people will not solve the housing crisis. Farmers: Strengthening the koruna exchange rate will reduce EU subsidies in real terms. The state collected CZK 15 billion more in taxes at the end of September this year than a year ago. The richest ten percent of Americans own a record 89 percent of US stocks. The French central bank has raised this year's economic growth outlook. According to economists, inflation will exceed five percent by the end of the year and the Czech National Bank will raise rates further. Inflation has accelerated significantly again, with tomatoes rising in price by 60 percent. According to businessmen, expensive energy has already affected the production of companies, including the Duslo chemical company. According to Rusnok, Schillerová's statement regarding the CNB's rate hike is incompetent. Prouza: The rate hike will be a problem for exporters, good news for customers.

Stock exchanges: The price of aluminum is the highest in ten years due to concerns about supplies from China. The price of aluminum rose to its highest in 13 years due to the coup in Guinea. The price of gold rose to a monthly high after the dollar and bond yields weakened. The price of zinc increased significantly due to production outages, reaching its highest level in 14 years. The price of aluminum rose to $3,000 per ton for the first time in 13 years. After three weeks of strike, the world's largest copper miner reached an agreement with unions. The diamond market recovery continues, De Beers sold the most stones since February.

Finance: The largest banks announced an increase in mortgage rates. Global Payments launches accepting cryptocurrencies through its payment terminals. According to the minutes of the meeting, the Fed could limit bond purchases in November. DER Touristik Eastern Europe has solved the problem of bankruptcy insurance with a bank guarantee. Banks will not immediately respond to the CNB rate increase by raising the price of loans. Three-quarters of Czechs do not believe in investments, the elderly have the most knowledge. The Russian central bank has significantly increased the base interest rate - to 7.5 percent. Lufthansa wants to raise 2.1 billion euros from the sale of shares to repay a state loan. A study has found that only a handful of people and companies still hold the most bitcoin. British banking company Barclays doubled its quarterly profit. The Czech National Bank has no objections to ČSOB's intention to pay a dividend of CZK 4.1 billion this year. UniCredit: The advantage of purchasing residential real estate has further decreased significantly. The Hungarian Central Bank has increased the base interest rate to 1.65 percent. Goldman Sachs' quarterly profit has increased sharply, exceeding expectations. Trinity Bank created double the profit for the whole of 2020 in September. Acquisition Capital claims can be registered until November 1. Banking Association: 11 percent of Czechs are in risky debt this year. Survey: Each household lost an average of CZK 17,000 this year due to the pandemic. Evergrande will sell part of its stake in Shengjing Bank to the state asset manager. Bloomberg: The Kellner family is considering options for Home Credit. The Polish central bank surprisingly increased the base interest rate to half a percent. SAB Finance will pay out 68 million CZK in dividends for the first half of the year. Equity funds earned over 16 percent this year, bond funds lost 0.9 percent. Household deposits in banks increased by 9.3 billion in August and exceeded three trillion CZK.