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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: The Czech Republic is the sick man of Europe, it is trapped in mediocrity, wrote the newspaper Die Welt. The Czech National Bank left the interest rate at seven percent, the crown strengthened significantly. The Japanese economy fell sharply in the third quarter, the threat of recession is growing. Survey: Almost half of Czechs think that inflation is now higher than last year. Study: The European middle class has seen a deterioration in living standards. Analysts: The decrease in unemployment was surprising given the decline in GDP. The British economy showed zero growth in the third quarter. Analysts: The decline in retail sales reflects concerns about the development of the economy. Consumer confidence in the US has fallen to a six-month low. Investor survey: In the region, 52 pct. people believe that lithium mining can benefit. The inflation rate in Turkey fell for the first time in four months, to 61.4 percent. Sales in services continue to decline, falling by 5.2 percent year-on-year in the third quarter. Chinese industry and retail grew more than expected, but deflation remains a threat. CRIF: The number of bankruptcies of companies and entrepreneurs increased in the Czech Republic in October. Analysts: The CNB's decision to leave rates unchanged is due to higher October inflation and a weaker crown. Singapore will begin testing the central bank's digital currency next year. The crown strengthened by 12 haler in response to the CNB's decision to leave rates unchanged. CRIF: 1,067 companies were added in the Czech Republic in October, 172 fewer than in the same period last year. The German economy fell by 0.1 percent quarter-on-quarter in the third quarter. The inflation rate in Japan rose to 3.3 percent in October, and services are also becoming more expensive. Inflation in Britain has fallen sharply, to a two-year low of 4.6 percent.

Stock Exchanges: Czech firm Mineral Ventures Invest has entered the main market of the London Stock Exchange. Bloomberg: The fall in the price of lithium is deepening, reaching 75 percent this year. The price of gold has climbed above $2,000 per troy ounce again.

Finance: Survey: The financial situation of Czech households has improved slightly year-on-year. Raiffeisenbank's net profit fell by 27.5 percent this year to CZK 3.96 billion. According to its boss, the ECB will not cut interest rates for several more quarters. The Turkish central bank has raised its base rate to 35 percent. UBS had a loss of USD 785 million in the quarter due to the costs of taking over Credit Suisse. The decline in inflation in Poland will slow down, according to the head of the central bank. The governor of the Polish central bank Glapiński defends himself against critics of his leadership style. The British central bank did not change interest rates, does not expect them to be reduced soon. Index: Equity mutual funds lost money for investors in October, bonds made money. The banking association expects a GDP decline of 0.4 percent this year, growth of 1.8 percent next year. Moody's lowered the outlook for the US rating to negative due to fiscal deficits. The Czech National Bank warned against the company LeadX Group Ltd., which offers investments. J&T Banka completed the sale of its subsidiary J&T Bank AO to the Russian holding Bjurokrat. Survey: Czechs want to counter inflation by investing in gold or real estate. Analyst: Commodity prices on the markets have rather fallen this year, the index is in the red by 6.8 percent. The net profit of the ČSOB group fell by five percent to CZK 13.6 billion in three quarters. Survey: According to 71 percent of Czech households, Christmas will cost up to CZK 15,000. The largest Russian bank Sberbank had another record profit in the third quarter. The Austrian Erste, which owns Česká spořitelna, increased its profit by 40 percent. The Russian Central Bank increased interest rates more significantly than expected. The Kellner family will incorporate its assets, including PPF, into the Amalar holding.