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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: Study: Thanks to production at Třinecké železárny, the state has earned CZK 54 billion in 14 years. Analysts: Nobel laureates have shown the importance of institutions for prosperity. Analysis: 4,088 entrepreneurs went bankrupt in the Czech Republic this year, seven percent more year-on-year. CNB: The balance of payments ended the second quarter with a deficit of CZK 3.7 billion. CNB left the reserve rate for protecting the credit market at 1.25 percent. Survey: 56 percent of small entrepreneurs considered closing their businesses. Inflation in the US fell to 2.5 percent in August, the lowest in three and a half years. Analysis: Trade between Britain and the EU has fallen by more than a quarter in the last three years. Economist Hampl: The Czech Republic did not sufficiently realize how the world has changed after 2019. Analysts expect an acceleration of year-on-year inflation in September due to the comparison base. Poles are upset that Draghi did not talk to them when writing the report on Europe's lagging behind. The Czech National Bank has lowered the interest rate to 4.25 percent, a decision made by six board members. Analysts expect another reduction in CNB interest rates, probably to 4.25 percent. Czech society has become richer in 35 years, but it has also become more comfortable, said Petr Doškář from the Ministry of Industry and Trade. Analysis: The number of corporate bankruptcies increased by nine percent this year to 524. The presentation of the scientific Nobel Prizes will begin on Monday, the APA has 22 favorites. Analysts: August's industrial growth was due to factory-wide holidays at car factories. The Nobel Prize in Economics was awarded to scientists for their research on the impact of institutions on prosperity. SB: China's economic growth will continue to slow next year. Analysis: The share of companies in the Czech Republic that use virtual headquarters has risen to 25 percent. AP: The Olympics were a success for Paris, but a disaster for some companies.

Stock exchanges: The platinum market is likely to show the largest deficit in the last ten years this year. Among the commodities on the markets this year, cocoa and gold have become more expensive, while steel and corn have become cheaper. The price of gold is at another record, having surpassed the threshold of 2,550 USD per troy ounce. Silver has climbed to a 12-year high, and gold is also breaking records.

Finance: The Japanese central bank left interest rates unchanged. Allianz Trade: Global economic growth will remain around 2.8 percent until 2026. Survey: Ten percent of Czechs cannot afford a mortgage. Fed cuts key interest rate by half a point to 4.75 to 5.00 percent. China's central bank cuts interest rates, will consider further support by the end of the year. China's central bank introduces the largest measure to support the economy since the pandemic. South Korea's central bank cuts interest rates for the first time in more than four years. Bank identity launches electronic signing without registration. Germany sells part of its stake in Commerzbank to Italy's UniCredit for 702 million euros. The world's longest-serving central bank chief may get another term. Analysts: Floods in Central Europe can cause losses of up to billions of euros. Index: The average Czech investor in funds earned 8.65 percent this year. The European Central Bank is likely to cut rates in October, the French governor said. Survey: Most Czechs are going into debt due to extraordinary expenses and larger investments. Analysts: The price of gold, which has been breaking records this year, is likely to continue to rise. Survey: The share of Czechs who save over CZK 5,000 per month has risen to 27 percent. Air Bank Group's net profit rose by five percent in the first half of the year to CZK 1.3 billion. Survey: Two-thirds of the Czech population does not know what a long-term investment product is. Bloomberg: Floods in Central Europe will cause significant losses for insurance companies. Partners Bank has 70,000 clients in six months, more than other new banks.