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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: Industrial producer prices rose the most in about 17 years in July. Prices in Czech industry accelerated growth to 5.1 percent in May. Analysts: July inflation supports the scenario of further CNB rate hikes. The European Central Bank has taken the first step towards launching a digital euro. German inflation has reached a 13-year high, unions are calling for wage increases. The economic decline in the first quarter was milder than the CNB had estimated in its forecast. Mikov has achieved the withdrawal of a fake copy of the fish knife from two manufacturers. The CNB will end the validity of older banknote designs from 1995 to 1999 in a year. Offers of shares in Europe were the highest in 14 years in the first half of the year. Year-on-year inflation in July was the highest in a year, exceeding market and CNB expectations. Analysts: Industry fell month-on-month due to lack of components in production. BioNTech could increase Germany's economic growth by half a percentage point this year. Household debts to banks increased by 13 billion in April, and to companies by 5.5 billion CZK. The Ministry of Finance sold bonds for 12.2 billion CZK today as planned, with greater interest. Moser Glassworks is producing film globes again, has a new store and exhibition. Venezuela will remove six zeros from all banknotes from October due to hyperinflation.

Stock exchanges: Russian gold miner Nordgold plans to enter the stock exchanges in Moscow and London. The price of gold fell below $1,800 per ounce in response to the Fed meeting. A mining company backed by Bezos and Gates will search for metals in Greenland. An American manufacturer of electric motors without precious metals has received $225 million. Rio Tinto to send lithium mining test rig to Serbia.

Finance: The Japanese central bank has also submitted a climate support program. According to the ECB vice president, the eurozone economy is growing faster than expected. Analysts: Bank savings accounts are now depreciating by three percent per year. The investment wine market is at its peak, prices have increased by 5.5 percent on average. Tykač's Belviport increased its stake in Moneta Money Bank to over three percent. The Ministry of Finance sold negative-yielding euro bonds today amid high interest. Large American banks have passed a stress test and no longer have to limit dividends. Equa Bank was forced to shut down its systems overnight, clients had incorrect amounts in their accounts. The EU has launched a bond sale plan with which it wants to overcome the impacts of the pandemic. Entrepreneurs from COVID guarantee programs received CZK 56.2 billion as of May 31. The Forgotten Billions service found money from the coupon privatization era of 17,000 people. The head of the US central bank will speak online at a symposium in Jackson Hole. Czech companies issued corporate bonds in the first quarter as in 2020. The volume of bank loans in April fell by CZK 56 billion to CZK 6.515 trillion. Deposits of Czech companies exceeded loans by CZK 115 billion in July. Citigroup and Bank of America sharply increased profits thanks to the release of reserves. Index: The average Czech investor in funds earned 5.5 percent this year. The Economic Committee called on the Czech National Bank to protect life insurance clients. The volume of housing loans fell in July, but it is still the third strongest month. Revolut applied for a specialized European banking license in the Czech Republic today. Tkáč to invest jointly with Křetínský in new J&T Capital Partners. US central bank leaves monetary policy unchanged. Minister: Russia will remove dollar assets from its sovereign wealth fund. Austrian Erste, which owns Česká spořitelna, tripled quarterly profit.