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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 prices slowed year-on-year growth in September, agriculture moderated the decline. Brazilian authorities are preparing a crackdown on illegal gold miners in the Amazon. The Czech Republic has deteriorated in economic freedom, ranking 22nd in the world. Study: Thanks to production at Třinecké železárny, the state has earned CZK 54 billion in 14 years. Study: The global mergers and acquisitions market is slowly recovering, growing by a tenth this year. The Czech National Bank has cut the interest rate to four percent, worsening the economic outlook. Inflation in the US slowed to 2.4 percent in September, a more significant decline was expected. Inflation accelerated to 2.6 percent in September, driven by rising food prices. The Czech National Bank has published the results of three external audits of its monetary policy model. Industry and foreign trade in the Czech Republic improved in September, construction weakened. CNB: Czech household debt rose to 2.34 trillion crowns in September. Inflation in Britain fell to 1.7 percent in September, the lowest since spring 2021. China's economic growth slowed to 4.6 percent in the quarter, but exceeded estimates. Today, the CNB cash desks in Pilsen, Ústí nad Labem and České Budějovice will be open for the last time. Ifo: German companies have the fewest orders since the financial crisis 15 years ago. CNB plans to increase the share of stocks in foreign exchange reserves, strengthening the share of American ones. Czech society has become richer in 35 years, but has also become more comfortable, said Petr Doškář from the Ministry of Industry and Trade. Goldman Sachs bank improved its outlook for the Chinese economy for this year and next year. Analysts: Plant-wide holidays at car factories were behind the August industrial growth.

Stock exchanges: Commodities on the markets this year are cocoa, coffee and gold, while corn is getting cheaper. Thyssenkrupp is reassessing plans for the production of so-called green steel. The Czech National Bank bought almost five tons of gold in the third quarter, its holdings now stand at 46.41 tons. Mining giant Rio Tinto is negotiating the takeover of lithium miner Arcadium.

Finance: The Czech National Bank fined UniCredit Bank for not exchanging damaged banknotes. Survey: Two-thirds of the Czech population does not know what a long-term investment product is. Survey: Two-thirds of Czechs are trying to value their money, 41 percent are investing. Pressure is growing in the ECB to further reduce interest rates, Slovak Governor Kažimír is against it. Survey: Most Czechs are going into debt due to extraordinary expenses and larger investments. Swedish payment company Klarna has filed for an initial public offering of shares in the US. Survey: Ten percent of Czechs cannot afford a mortgage. Survey: Czechs prefer real estate investments, followed by savings accounts. PPF will seek further acquisitions, including telecommunications, said director Šmejc. South Korea's central bank cut interest for the first time in more than four years. Allianz Trade: Global economic growth will remain around 2.8 percent until 2026. PPF sold Russia's PPF Life Insurance to the Inweasta group, Interfax reported today. Volkswagen's sales fell in the quarter, Moody's lowered the company's rating outlook. China's central bank cut key interest rates to support growth. Norway's largest bank DNB will take over Sweden's investment bank Carnegie. EU auditors: Budget errors reached 5.6 percent, fraud persists. Čupr issues bonds worth three billion CZK through Rohlik.cz Finance II. The Czech National Bank has fined Fio Bank for violating the Anti-Money Laundering Act. Swiss bank UBS returned to profit in the third quarter, exceeding estimates. The Hungarian central bank left the base interest rate at 6.50 percent. According to the head of the City, London has lost 40,000 jobs in the financial sector due to Brexit. The British central bank has cut the base interest rate to 4.75 percent, as expected.