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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: According to Rusnok, Schillerová's statement regarding the CNB's rate hike is incompetent. According to estimates, year-on-year inflation stagnated in August. According to entrepreneurs, expensive energy has already affected the production of companies, including the Duslo chemical company. Agrarians: The strengthening of the koruna exchange rate will reduce EU subsidies in real terms. Experts: Chip supplies for the automotive industry will only return to normal next year. Bloomberg: Taxing the empty apartments of rich people will not solve the housing crisis. The CNB will resume the sale of part of the proceeds from foreign exchange reserves after nine years. Investor confidence in the eurozone economy has reached its lowest level in six months. IMF: Introducing cryptocurrencies as legal tender is unreasonable and risky. The Czech Republic's foreign trade results for August disappointed analysts' expectations. The richest ten percent of Americans own a record 89 percent of U.S. stocks. Economists predict that inflation will exceed five percent by the end of the year and the Czech National Bank will raise rates further. Industrial producer prices rose 9.9 percent year-on-year in September, the most since 1993. Gasoline and diesel are the most expensive in almost 7 years, and analysts expect prices to continue to rise.

Stock exchanges: The price of aluminum is the highest in a decade due to concerns about supplies from China. The price of aluminum has risen to $3,000 per ton for the first time in 13 years. The price of gas in the U.S. has fallen from a seven-year high, but interest in the raw material continues. Carmakers' problems with chips are reducing the prices of platinum group metals. After three weeks of strike, the world's largest copper miner has reached an agreement with unions. The price of zinc has increased significantly due to production outages, reaching its highest level in 14 years.

Finance: The largest banks have announced an increase in mortgage rates. British banking company Barclays doubled its quarterly profit. The British central bank has not changed interest rates, but inflation is expected to rise. According to the minutes of the meeting, the Fed could limit bond purchases in November. UniCredit: The advantage of buying residential real estate has fallen significantly further. Economist: Current inflation will last for several more years. The Polish central bank intends to continue increasing its gold reserves. The profits of Citigroup, Morgan Stanley and Bank of America exceeded expectations. The head of the German central bank Jens Weidmann is resigning for personal reasons. The Hungarian central bank has again increased the base interest rate. Interest in bonds for citizens in the 12th issue was record high, the state has launched a new issue. The Polish central bank surprisingly raised the base interest rate to half a percent. The US bank JPMorgan's quarterly profit rose by 24 percent. Reuters: China's Evergrande missed the deadline for paying interest on bonds. The largest banks announced an increase in mortgage lending rates. G7 officials approved principles for central bank digital currencies. Bloomberg: The Kellner family is considering options for Home Credit. According to the ECB vice president, the eurozone economy is growing faster than expected. DER Touristik Eastern Europe has solved the problem of bankruptcy insurance with a bank guarantee. Moody's: Islamic bond issuance will not grow this year for the first time in five years. Goldman Sachs' quarterly profit rose sharply, exceeding expectations. The volume of housing loans fell in July, but it was still the third strongest month. Czech companies' deposits exceeded loans by CZK 115 billion in July. Equity funds have gained over 16 percent this year, while bond funds have lost 0.9 percent. The Czech National Bank will no longer restrict bank dividend payments across the board.