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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: Inflation exceeded four percent, the highest since November 2008. El Salvador is the first country to adopt bitcoin as a national currency. Year-on-year inflation in July was the highest in a year, exceeding market and CNB expectations. A cement plant near Lovosice is testing lithium extraction technology. The CNB will end the validity of older banknote designs from 1995 to 1999 in a year. Consumer prices rose by 3.4 percent year-on-year in July, the most in a year. According to estimates, year-on-year inflation was rather stagnant in August. The quarantine in the Chinese port caused a domino effect in global trade. Mikov achieved the withdrawal of a fake copy of the Rybička knife from two manufacturers. CNB: The number of currency exchange offices fell by six percent compared to last year. Analysts: Industry fell month-on-month due to lack of components in production. Venezuela will remove six zeros from all banknotes from October due to hyperinflation. Rusnok: Latest inflation data does not mean a change for the monetary policy of the Czech National Bank. 85 percent of companies did not publish their 2020 financial statements on time.

Stock exchanges: Reuters: Automakers are looking for a replacement for rare earth magnets. The price of aluminum is the highest in a decade due to concerns about supplies from China. A mining company backed by Bezos and Gates will search for metals in Greenland. An American manufacturer of electric motors without rare metals has received $ 225 million. Manufacturers of metal products are reflecting the price increase in an increase in the prices of their range. Rio Tinto will send a test device for lithium mining to Serbia.

Finance: ČSOB Pojišťovna achieved a record profit after tax of 1.437 billion crowns last year. The Forgotten Billions service found money from the coupon privatization period for 17,000 people. Tykač's Belviport increased its stake in Moneta Money Bank to over three percent. The payment settlement bank will test the use of central bank digital currencies. Equa Bank was forced to shut down its systems overnight, clients had incorrect amounts in their accounts. Large American banks have passed a stress test, they no longer have to limit dividends. The head of the US central bank will speak online at a symposium in Jackson Hole. The largest banks have announced an increase in mortgage rates. The Ministry of Finance sold negative-yielding euro bonds today amid high interest. Visa will buy the Tink open banking platform for 1.8 billion euros. The Japanese central bank also presented a climate support program. The Russian central bank raised interest rates for the fifth time this year. Golden Gate CZ's sales increased by 29 percent in the first half of 2021 to CZK 2.57 billion. Industrial metals rose by up to a quarter in the first half of the year, while gold and silver fell in price. The share of foreign investors with Czech bonds increased in the first half of the year. The largest banks announced an increase in mortgage rates. Tkáč will make joint investments with Křetínský in the new J&T Capital Partners. Equity funds earned over 16 percent this year, bond funds lost 0.9 percent. The US central bank left interest rates unchanged, is considering limiting support. Survey: Due to the pandemic, each household lost an average of CZK 17,000 this year. The investment wine market is at its peak, prices have risen by 5.5 percent on average. The British central bank has not changed its monetary policy despite inflation. The South Korean central bank has increased interest rates. The British central bank has not changed its monetary policy, it warns of higher inflation. The Czech National Bank has increased its foreign exchange reserves in gold, the stock is ten tons.