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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: Consumer price growth slowed again, to 3.2 percent in September. According to institutes, the recovery of the German economy is slowing. Business confidence in Germany rose for the fifth consecutive month in September. The decline in the US economy was milder in the quarter than expected. Production of a wood processing sawmill in Štětí was officially launched. Year-on-year inflation fell to 3.2 percent in September, and is likely to continue to fall. The Nobel Prize in Economics was won by Americans Milgrom and Wilson. IMF: The economic outlook is not as bad as expected. Economists: Auctions are common thanks to the new Nobel laureates. The British economy grew less than expected in August. The Chinese boosted their domestic economy during the holiday week. The Ministry of Finance sold bonds for CZK 5.1 billion, interest was greater. GLP is building an industrial zone in Ostrava for more than a billion crowns. In August, 881 companies were added to the Czech Republic, 61 fewer than in July. The Slovak Central Bank improved its economic outlook. The growth of confidence in the Czech economy accelerated in September. Confidence in the German economy deteriorated due to the virus and Brexit.

Stock exchanges: Supplies of construction materials fell by up to 30 percent, miners report. Central banks' gold reserves increased by 5,000 tons in ten years. Metal processor Saker's sales fell to CZK 2.321 billion last year.

Finance: As of September 18, banks had accepted 401,000 applications for payment deferrals. The ECB is considering changing its current policy due to the coronavirus. France will stimulate the economy with a package of 42 billion euros next year. Finemo.cz: Approximately 400 seniors have used a reverse mortgage in five years. JPMorgan will pay 920 million USD for market manipulation. Banks provided call center operators to trace the infected. Analysts: The price of gold has increased by a quarter this year, silver by a third. The Fed has extended the restrictions on banks' dividend payments and share buybacks. Housing loans increased by 30 percent year-on-year in August to 17 billion CZK. American bank Citigroup must pay a fine of 400 million USD. Survey: Almost a third of Czechs have felt the impact of the pandemic on their finances. Arca Capital has agreed on financing with Blantyre Capital. IMF: Africa needs 1.2 trillion USD to overcome the effects of Covid. US airlines will cut more than 30,000 seats without further state aid. World Bank to give $12 billion for vaccine for developing countries. Leasing and installment companies approved 79,000 installment deferrals. World central banks are preparing their own digital currencies. Non-bank credit companies have rules for clients in moratorium. CNB revoked the license of Prague currency exchange Changer. Home Credit plunged into a loss of CZK 16.8 billion due to the pandemic. Association: Interest in installment deferral is declining, Czechs are starting to pay off loans. KPMG: Household finances are starting to feel the cooling of the economy. Survey: 80 percent of Czechs have been hit by an unexpected event in five years. PPF banka's net profit increased by 14 percent this year to CZK 1.2 billion. Survey: 70 percent of Czechs have experience with installment purchases.