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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: Analysts: No recovery in the construction market, it will decline further this year. Bloomberg: The transition to electric cars threatens suppliers in the Czech Republic and Slovakia. The CNB Bank Board disagrees on further rate cuts. According to analysts, October's industrial growth was more of a fluctuation than a change in trend. According to analysts, the outcome of the CNB's interest rate talks is uncertain. Real sales of Slovak retail fell for the tenth month in a row in November. PwC: Inflation remains the main scarecrow for investors, concerns are lower than last year. CZSO and CNB: The net worth of Czech households last year was 3.77 million crowns. CNB: The balance of payments ended the 3rd quarter with a surplus of 4.6 billion crowns. Institutes: German economy to grow significantly slower next year, contrary to expectations. Analysis: Budget spending for 2024, adjusted for inflation, is in line with 2019. Vice-Governor of the Czech National Bank: The decision to adopt the euro requires a broader political consensus. One of the most cited Czech economists, Milan Zelený, has died at the age of 81. Analysts: The impact of economic stagnation on unemployment is minimal. CNB: Czech household debts to banks rose to CZK 2.244 trillion in November. Analysts: Unemployment rose in December mainly due to seasonal influences. Unemployment in the Czech Republic rose in December, according to analysts due to the season. Approximately 100,000 people will have to file a property tax return in January. The year 2024 will bring restrictions on tax credits, an increase in property tax, or changes to VAT. CRIF analysis: 207,772 entrepreneurs have disappeared in the Czech Republic by the end of November this year. Analysts expect a slowdown in year-on-year inflation to seven percent in November. Chains react to VAT changes with actions, according to the analyst, it is mainly marketing. ČNB: The Czech Republic's foreign debt rose to CZK 4.546 trillion in the third quarter. Survey: Companies expect higher inflation in 2024 as well, three quarters above five percent. BCG data: The Czech Republic closed the fewest mergers in the third quarter since 2014. Analysts estimate December inflation between 7.2 and 7.5 percent and 10.8 percent for the year. Industrial and construction production fell in November, foreign trade prospered. The court cleared Maradona of charges of tax evasion worth millions three years after his death.

Stock exchanges: CNBC: Copper prices could rise by more than 75 percent in the next two years. The price of cocoa on the London market this year rose the most since 1989.

Finance: Hypoindex: The average mortgage rate fell to 5.96 percent in early January. The Turkish central bank raised the base interest rate to 42.5 percent. Banks have started to reduce mortgage rates, with Moneta, KB and Raiffeisenbank announcing a decrease. The large Chinese shadow bank ZEG has entered bankruptcy proceedings. Bloomberg: Billionaire Vítek founded companies in the emirate of Abu Dhabi. CNB: Banks' gross profit increased by 5.5 billion to 180.1 billion CZK in three quarters. Retail investors invest significantly more in ETFs than institutions, a survey has found. The Russian central bank has increased the base interest rate to 16 percent, as expected. The German central bank has significantly worsened the economic outlook for next year. Analysis: All participating pension savings funds made a profit for clients last year. The Hungarian central bank has reduced the base interest rate by 75 points to 10.75 percent. The British central bank has not changed interest rates, it wants to keep them high for longer. The US public debt has exceeded the 34 trillion USD mark for the first time. ČSOB analysts: Inflation in the Czech Republic will fall next year, GDP growth will be weak. Hungary has the highest debt service costs in the entire European Union.