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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 Exporters' Association warned against artificial appreciation of the koruna. CNB: The number of currency exchange offices fell by six percent compared to last year. Inflation exceeded four percent, the highest since November 2008. According to Rusnok, Schillerová's statement regarding the CNB's rate increase is incompetent. According to economists, inflation will exceed five percent by the end of the year and the CNB will further increase rates. According to economists, industry results indicate a slower economic recovery. According to estimates, year-on-year inflation was rather stagnant in August. Investor confidence in the eurozone economy fell to its lowest level in six months. 85 percent of companies failed to publish their 2020 financial statements on time. El Salvador is preparing to become the first country to accept bitcoin as a national currency. Analysts: July inflation supports the scenario of further CNB rate hikes. Industrial producer prices rose the most in about 17 years in July. Bloomberg: Taxing empty apartments of rich people will not solve the housing crisis. Consumer confidence in the US fell to a seven-month low in September. Analysts: July inflation supports the scenario of further CNB rate hikes.

Stock exchanges: Bloomberg: The world is at risk of another price shock, silicon rose by 300 percent. Mining company backed by Bezos and Gates will search for metals in Greenland. Gold price fell below $1,700 per troy ounce, later erasing part of the losses. Rio Tinto will send a test rig for lithium mining to Serbia. Chinese oil company CNOOC plans to enter the Shanghai stock exchange. Manufacturers of metal products are projecting the price increases into price increases for their product range. The price of aluminum has risen to its highest level in 13 years due to the coup in Guinea. Carmakers' problems with chips are reducing the prices of platinum group metals.

Finance: The largest banks have announced an increase in mortgage lending rates. Moody's: Issuance of Islamic bonds will not grow this year for the first time in five years. Analysts: Bank savings accounts are now depreciating by three percent per year. According to the vice president of the ECB, the eurozone economy is growing faster than expected. Equa Bank was forced to shut down its systems overnight, clients had incorrect amounts in their accounts. Gold and silver have fallen by six percent this year, but technical metals are becoming more expensive. DER Touristik Eastern Europe has solved bankruptcy insurance with a bank guarantee. Banking Association: 11 percent of Czechs are in risky debt this year. The Czech National Bank has no objections to ČSOB's intention to pay a dividend of CZK 4.1 billion this year. Czech companies' deposits exceeded loans by CZK 115 billion in July. The British central bank did not change interest rates, but expects inflation to rise. Equity funds earned over 13 percent this year, bond funds lost 0.6 percent. Banks will not immediately respond to the CNB's rate increase by raising the price of loans. The investment wine market is at its peak, prices have increased by 5.5 percent on average. Banks will pay more into reserves to protect the credit market. Interest in bonds for citizens in the 12th issue was record high, the state has launched a new issue. The head of the US central bank will speak online at a symposium in Jackson Hole. Evergrande to sell part of stake in Shengjing Bank to state asset manager. US central bank leaves interest rates unchanged, considers limiting support. Poland's central bank surprisingly raises base rate to half a percent. Equity funds have gained over 16 percent this year, while bond funds have lost 0.9 percent. Household deposits in banks rose by 9.3 billion in August, exceeding three trillion CZK.