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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: Economist Hampl: The Czech Republic did not sufficiently realize how the world has changed after 2019. Analysis: The number of corporate bankruptcies increased by nine percent this year to 524. Prices in industry and construction rose in August, while in agriculture they fell again. Inflation accelerated to 2.6 percent in September, contributed to by rising food prices. Excellent: Foresters will receive 2 billion CZK instead of 500 million for farming next year. Analysis: 4,088 entrepreneurs went bankrupt in the Czech Republic this year, seven percent more year-on-year. The Japanese economy grew at a rate of 2.9 percent in the second quarter, more was expected. CNB: Czech household debts rose to 2.33 trillion CZK in August. Inflation in the US fell to 2.5 percent in August, the lowest in three and a half years. China has invested over $100 billion in clean energy abroad since 2023. The Nobel Prizes in Science will be awarded on Monday, APA has 22 favorites. Inflation in Turkey fell below 50 percent in September for the first time in more than a year. The Czech National Bank's foreign exchange reserves increased by 7.5 billion to 138.1 billion euros in September year-on-year. Inflation in Hungary fell to 3.4 percent, the lowest in three and a half years. AP: The Olympics were a success for Paris, but a disaster for some businesses. Inflation in August remained at 2.2 percent, exceeding analysts' and the Czech National Bank's estimates. Analysis: Trade between Britain and the EU has fallen by more than a quarter in the past three years. Survey: 56 percent of small business owners considered closing their businesses. Experts: The Czech economy needs cheaper energy, but it won't get it anytime soon. The Czech National Bank has cut interest rates to 4.25 percent, a decision made by six members of the board. Analysts expect another cut in CNB interest rates, probably to 4.25 percent.

Stock exchanges: Silver has climbed to a 12-year high, gold is also breaking records. The Czech National Bank bought almost five tons of gold in the third quarter, holding 46.41 tons. The price of gold has exceeded $2,600 per troy ounce for the first time. Mining giant Rio Tinto is in talks to take over lithium miner Arcadium. Rio Tinto will buy Arcadium for $6.7 billion, making it a key lithium miner.

Finance: China's central bank has cut interest rates, will consider further support by the end of the year. Analysts: The price of gold, which has been breaking records this year, is likely to continue to rise. Survey: Ten percent of Czechs cannot afford a mortgage. EU auditors: Budget errors reached 5.6 percent, fraud persists. Hungary's central bank has cut the base interest rate to 6.50 percent. Hypoindex: The average mortgage rate fell by 0.04 points in September to 5.38 percent. Index: The average Czech investor in funds earned 8.65 percent this year. Study: Fintech companies' revenues increased last year, but market valuations fell. CNB: Banks' net profit increased by eight percent in the first half of the year to CZK 59.9 billion. Bloomberg: Floods in Central Europe will cause significant losses for insurance companies. Volkswagen's sales fell in the quarter, Moody's lowered the company's rating outlook. Germany sold part of its stake in Commerzbank to Italy's UniCredit for 702 million euros. Banking identity launched electronic signing without registration. The Swiss Central Bank lowered the base interest rate by a quarter of a point to 1.00 percent. The Russian Central Bank increased the base interest rate by one percentage point to 19 percent. The IMF agreed with Ukraine to release another 1.1 billion USD. Survey: Almost 70 percent of Czech adults save for retirement somehow. Survey: Most Czechs are going into debt due to extraordinary expenses and larger investments. UniCredit bought more Commerzbank shares, may become the largest shareholder.