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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: China's economic growth slowed in the second quarter, falling short of analysts' estimates. Analysts expect June inflation to be close to May's 2.6 percent. Today is the last day to exchange invalid banknotes with a thin stripe in banks. The state debt increased by 96.2 billion crowns in the first half of the year to 3.207 trillion crowns. Analysts: The CNB Bank Board will continue to cut rates, the question is how significantly. Analysts: The development of agricultural producer prices gives hope for cheaper food. Coface: Czech companies are among the worst in the region in publishing financial statements. CNB: Czech household debts to banks rose to 2.293 trillion CZK in May. FAZ: UEFA will make a fortune from the football Euro, but the German taxpayer will cry. IMF warns of impact of generative artificial intelligence on labor market. Activity in eurozone business sector slowed significantly in June. Analysts expect slowdown in CNB's key interest rate cut. Analysts: Global IT system outage dealt another blow to supply chains. Study: Companies have lost ability to come up with real innovations. Analysts: June inflation reduction to CNB target is surprising, koruna weakens. Slovakia's trade surplus in May was at this year's low of 367 million euros. Analysts: Czech industry fell most significantly in May since September last year.

Stock exchanges: Robusta coffee beans have risen in price by 60 percent since the beginning of the year to 4,625 USD per ton. CNB bought almost six tons of gold in the second quarter, holding 41.49 tons. Oil prices closed at their lowest levels since mid-June.

Finance: Bain Capital to buy financial software supplier Envestnet for $4.5 billion. Index: The average Czech investor in funds earned 5.7 percent in the first half of the year. Survey: 55 percent of people in the Czech Republic manage to save regularly, more than a year ago. Two members of the Czech National Bank's bank board disagreed with the new reserve for banks. JPMorgan Chase significantly increased its profit in the quarter, while Wells Fargo's fell. The Hungarian central bank cut its base interest rate to 6.75 percent. According to its boss, the Polish central bank will cut interest rates again in 2026 at the earliest. According to the Czech Banking Association's index, the financial literacy of Czechs has not changed. UniCredit: Central and Eastern European economies will grow by 2.7 percent this year. J&T Arch fund became the second largest shareholder of Tatra mountain resorts. Sky News: Who will pay for the worst IT outage in the world?. China's central bank surprisingly lowered the base interest rate to 1.70 percent. Czech banks were not affected by the outage, the stock exchange and nuclear power plants were also unaffected. KKCG will issue bonds for at least five billion crowns. Morgan Stanley increased its profit by 41 percent, but Bank of America's profit fell. CNB: The number of exchange offices in the country decreased again last year, the situation improved thanks to inspections. FT: The shipyard that built the Titanic is fighting for survival; it is an emergency loan. A third of central banks intend to increase gold reserves in the next 12 months. Creditas Bank acquired more than a 50 percent stake in NEY savings cooperative. The ECB, as expected, left the base interest rate at 4.25 percent. Kellnerová: I got to know PPF after my husband's death, I was more decisive last year. The Russian Central Bank increased the base interest rate by two percentage points to 18 percent. Index: Almost half of productive Czechs are now repaying mortgages, loans or credits. Banks provided mortgages worth CZK 24.2 billion in June, the most since March 2022. Moneta Bank's net profit in the first half of the year increased by 9.1 percent to CZK 2.7 billion.