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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: AP: The Olympics were a success for Paris, but a disaster for some businesses. CNB: Czech household debt rose to almost CZK 2.32 trillion in July. SAP: The introduction of AI would increase the value of domestic companies by an average of 16 percent. CNB: The balance of payments ended the second quarter with a deficit of CZK 3.7 billion. Analysts: Wage growth fell short of expectations, high-income countries are growing faster. China has invested over USD 100 billion in clean energy abroad since 2023. Analysis: The number of corporate bankruptcies has increased by nine percent this year to 524. Reuters: The German economy will decline again this year, leading economic institutes expect. The Japanese economy grew at a rate of 2.9 percent in the second quarter, more was expected. Reuters: China faces rising obesity due to economic problems and automation. Analysts: Consumption recovery is slow, due to concerns about economic development. Excellent: Foresters will receive 2 billion CZK instead of 500 million next year for farming. Turkey's inflation rate slowed to 52 percent, helped by high interest rates. The average wage in the Czech Republic rose to 45,854 CZK, growth was below market expectations. Germany's inflation rate slowed to 1.9 percent in August. The Czech National Bank lowered the interest rate to 4.25 percent, a decision made by six board members. Moody's: Most Russian-owned companies in the EU are registered in the Czech Republic. The Czech National Bank will replace banknotes and coins damaged in floods for people and companies. Analysis: The share of companies in the Czech Republic that use a virtual office has risen to 25 percent. Retailers' sales accelerated growth in July, but according to analysts, it was still slow. Economist Hampl: The Czech Republic did not sufficiently realize how the world had changed after 2019. The average wage in the Czech Republic increased by almost four percent in real terms in the second quarter. The Czech Republic's GDP grew by 0.6 percent in the second quarter, according to analysts, it is still held back by industry. Analysts expect another cut in CNB interest rates, probably to 4.25 percent. Industry and trade did not do well in July, construction grew year-on-year.

Stock exchanges: The platinum market will probably show the largest deficit in the last ten years this year. The price of gold exceeded $2,600 per troy ounce for the first time.

Finance: Reuters: More and more ECB officials are leaning towards a September interest rate cut. The Swiss central bank has cut its base rate by a quarter of a point to 1.00 percent. Analysts: The price of gold, which has been breaking records this year, is likely to rise further. China's central bank has cut interest rates, will consider further support by the end of the year. The Russian central bank has raised its base rate by one percentage point to 19 percent. Jet Investment Group has sold the Třebíč-based Tedom group to the Japanese Yanmar Group. Survey: 14 percent of Czechs have no financial reserves. Bloomberg: Floods in Central Europe will cause significant losses for insurance companies. The British central bank has left the base rate at five percent. Raiffeisen Bank shares weaken after shares of its branches were frozen in Russia. Hypoindex: The average mortgage rate in September fell by 0.04 points to 5.38 percent. Of the commodities on the markets this year, gold and cocoa became more expensive, while cotton and wheat became cheaper. Analysis: Banks are reducing interest rates on savings accounts, the highest are around four percent. Bank identity launched electronic signing without registration. J&T Bank's net profit rose by 27 percent in the first half of the year to 3.94 billion crowns. The time has come to reduce interest rates, said the head of the US central bank. The Fed lowered the base interest rate by half a point to a range of 4.75 to 5.00 percent. The Hungarian central bank reduced the base interest rate to 6.50 percent.