1 234,00 USD

ZLATOVNA ECONOMIC NEWS
A quick look at what's new in the world of economic policy, finance and precious metals.

Economy: The number of corporate bankruptcies in Germany rose by almost a quarter in the first half of the year. Saudi oil revenues will fall more than expected this decade, the IMF says. Japan's economy grew significantly faster than expected in the quarter. CNB: Czech household debt rose to almost CZK 2.32 trillion in July. Prices in industry in the Czech Republic accelerated growth, while prices in agriculture slowed down the decline. CNB left the reserve rate for protecting the credit market at 1.25 percent. The Spanish central bank raised its GDP growth estimate to 2.8 percent thanks to tourism. Inflation in August remained at 2.2 percent, exceeding analysts' and CNB estimates. Retail sales accelerated growth in July, but according to analysts, it was still slow. Analysts: Wage growth lags expectations, higher growth in high-income earners. IfW: German economy to continue to decline this year. Moody's: Most Russian-owned companies in the EU are registered in the Czech Republic. Survey: Two-thirds of Czechs perceive current situation as economic crisis. Inflation in Hungary falls to 3.4 percent, lowest in three and a half years. onsemi: Production in Rožnov could not expand without investment incentives. Analysts: Consumption recovery slows, due to concerns about economic development. Turkey's inflation rate slows to 52 percent, high interest rates help. AP: Olympics were a success for Paris, but a disaster for some businesses. Analysis: Trade between Britain and the EU has fallen by more than a quarter in the past three years. The board of directors of the Czech branch of Dun & Bradstreet will be headed by Kateřina Klosová. Reuters: China faces a rise in obesity due to economic problems and automation. The GDP of the Czech Republic grew by 0.6 percent in the second quarter, according to analysts, it is still held back by industry. The number of hundred-millionaires has increased by 54 percent in ten years, most in China and the USA. The Japanese economy grew at a rate of 2.9 percent in the second quarter, more was expected.

Stock exchanges: The price of gold has exceeded $2,500 per troy ounce for the first time in history. The platinum market is likely to show the largest deficit in the last ten years this year. The price of gold is at another record, having surpassed $2,550 per troy ounce.

Finance: The Hungarian central bank has stopped cutting interest rates. UniCredit Bank: Disadvantage of residential real estate investments has decreased. IMF agrees with Ukraine to release additional USD 1.1 billion. Russian Central Bank raises key interest rate by one percentage point to 19 percent. British Central Bank leaves key interest rate at five percent. Analysts: Floods in Central Europe may cause losses of up to billions of euros. Survey: People no longer insist on owning their own homes, only less than half want it. J&T Bank's net profit increased by 27 percent in the first half of the year to CZK 3.94 billion. Index: Mutual funds generally continued to generate income for investors in July. ČSOB Group's net profit in the first half of the year increased by two percent to CZK 9.5 billion. MF: The number of new building savings contracts increased by 4.1 percent in the first half of the year. Analysts: The most advantageous investments include funds with quality bonds. Reuters: More and more ECB officials are leaning towards a September interest rate cut. The Fed has lowered the base interest rate by half a point to a range of 4.75 to 5.00 percent. Raiffeisen Bank shares are weakening after the shares of its branch were frozen in Russia. Banks provided mortgages for CZK 23.8 billion in July, up 109 percent year-on-year. The time has come to reduce interest rates, said the head of the US central bank. Investors will buy back part of Revolut shares, the company was valued at $ 45 billion.