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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 Ministry of Finance sold bonds for CZK 12.2 billion today as planned, interest was greater. The Czech National Bank raised rates today for the first time since February 2020, and will continue to do so. Stock offers in Europe were the highest in 14 years in the first half of the year. Czech National Bank: The number of exchange offices fell by six percent compared to last year. According to analysts, inflation in the summer will remain around three percent, the uncertainty is the easing. The Turkish Central Bank has banned payments in cryptocurrencies. Bisnode: The number of unreliable VAT payers increased in the quarter at the lowest rate in seven years. Industrial developer CTP sold green bonds for CZK 25.5 billion. Prices in Czech industry accelerated growth to 5.1 percent in May. The European Central Bank has taken the first step towards launching a digital euro. According to analysts, inflation will remain around three percent in the near future. Chamber: The influx of Czech investments into France is growing, the main investor is Křetínský. The Czech Republic's foreign trade in May ended in a surplus of 6.3 billion crowns. The Pardubice refinery Paramo ended last year with a loss of 687 million crowns.

Stock exchanges: The price of gold fell below $1,800 per ounce in response to the Fed meeting. The price of palladium exceeded $3,000 per ounce for the first time. Russian gold miner Nordgold plans to enter the stock exchanges in Moscow and London. Russia has discovered one of the three largest reserves of rare metals in the world. Reuters: Carmakers are looking for a replacement for magnets made of rare earth metals. The price of gold fell below $1,800 per ounce in response to the Fed meeting.

Finance: The EU has launched a bond sale plan to overcome the impacts of the pandemic. The banking sector is resilient even after the pandemic, according to the CNB's stress tests. ČSOB Pojišťovna achieved a record profit after tax of 1.437 billion crowns last year. The Japanese central bank has also submitted a climate support program. The Hungarian central bank has increased the base interest rate, the first in the EU since the pandemic. The Forgotten Billions service found money from the coupon privatization period for 17,000 people. Golden Gate CZ's sales increased by 29 percent in the first half of 2021 to 2.57 billion CZK. Gold rose to its highest price this year today, the price rose by five percent in a month. The US central bank left monetary policy unchanged. The Economic Committee called on the CNB to protect life insurance clients. The volume of housing loans in April was 29 billion CZK, the second highest. South Korea's central bank wants to test the introduction of its own digital currency. Developer Sekyra Group offers bonds for up to half a billion crowns. The four largest banks in the Czech Republic lost one billion CZK in profits in the first quarter. Austria's Erste, which owns Česká spořitelna, tripled its quarterly profit. Czech companies' deposits exceeded loans by 99 billion CZK in February. Minister: Russia will remove dollar assets from its state investment fund. Golden Gate CZ's revenues increased by 47 percent this year to 1.28 billion CZK. PPF wants to acquire 100 percent in the operator O2, now controls 83.58 percent. Entrepreneurs from COVID guarantee programs received 60.7 billion CZK as of June 30. Citigroup and Bank of America have sharply increased profits thanks to the release of reserves. Large American banks have passed the stress test, they no longer have to limit dividends. The Czech National Bank will publish the stress tests of banks today and evaluate measures for mortgages. Almost a fifth of Czechs pay with their mobile phones, but they do not want to give up cash. The British central bank has not changed its monetary policy despite inflation.