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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: ČNB: Balance of payments ended the 3rd quarter with a surplus of CZK 4.6 billion. Analysts: Inflation fell faster in December due to cheaper food. The introduction of a global minimum corporate tax will change investment flows, the OECD said. Unemployment in the Czech Republic rose in December, according to analysts due to seasonality. Experts: The decline in construction is not surprising, production will start to grow this year. Real sales of Slovak retail fell for the tenth month in a row in November. Industrial and construction production fell in November, foreign trade did well. CNB spokeswoman Krmelová will head a different department of the central bank from January 15. Business activity in the eurozone surprisingly decreased again in December. Inflation in Slovakia slowed down in December, but remained in double digits for the whole year. CNB: Czech Republic's foreign debt rose to CZK 4.546 trillion in Q3. CNB: Czech household debts to banks rose to CZK 2.244 trillion in November. Survey: Company bosses believe inflation will continue to fall, but it will remain higher. Analysts: GDP is being held back by household consumption, companies maintain increasingly high profitability. FT: The number of bankruptcies is growing, the end of Covid aid and high interest rates are to blame. The inflation rate in Poland surprisingly slowed to 6.1 percent in December. The outcome of the CNB's negotiations on interest rates is uncertain, according to analysts. The state collected CZK 1.39 trillion in taxes last year, 17 percent more year-on-year. CNB has lowered interest rates, according to Michl, inflationary pressures are fading. Retail in the Czech Republic grows year-on-year after 18 months, analysts say, a surprise. The court cleared Maradona of charges of tax evasion worth millions three years after his death. Experts: Investors' distrust is behind the November decline in apartment construction. Frolík: The Czech Republic lacks a long-term strategy agreed across the political spectrum. Chains react to VAT changes with actions, according to the analyst, it is mainly marketing. The British economy fell slightly in the third quarter, a recession is looming. One of the most cited Czech economists, Milan Zelený, has died, he was 81 years old. Bloomberg: The transition to electric cars threatens suppliers in the Czech Republic and Slovakia.

Stock exchanges: The Czech National Bank almost tripled the volume of gold in reserves last year to 30.67 tons. The price of gold this year rose the most in three years and ended above 2,000 USD.

Finance: The large Chinese shadow bank ZEG has entered bankruptcy proceedings. The British central bank has not changed interest rates, it wants to keep them high for longer. Bloomberg: Billionaire Vítek founded companies in the emirate of Abu Dhabi. BlackRock will take over Global Infrastructure Partners for 12.5 billion USD. ČSOB estimates: The volume of mortgages provided last year fell by 25 billion to 138 billion CZK. The German central bank has significantly worsened the economic outlook for next year. The US public debt has exceeded the 34 trillion USD mark for the first time. Survey: The number of Czech households with savings increased to 71 percent last autumn. The Turkish central bank has increased the base interest rate to 42.5 percent. Analysis: All participating pension savings funds made a profit for clients last year. The Hungarian central bank has cut its key interest rate by 75 basis points to 10.75 percent. The US central bank has left interest rates unchanged, indicating they will be cut next year. Large US banks performed differently at the end of the year, Citigroup is in a loss. The Russian central bank has increased its key interest rate to 16 percent, as expected. State support for building savings is being halved. Hypoindex: The average mortgage rate fell to 5.96 percent in early January.