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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 Fiscal Council calls for continued consolidation of public finances. CNB: The Czech Republic's foreign debt rose to CZK 4.381 trillion in the second quarter. Orders from German industry fell, German exporters are now pessimistic. The CNB again did not change rates, according to Michl they will be higher than the forecast recommends. Exports from China fell for the fourth consecutive month in August, the slowdown in trade persists. The CNB has been reducing the rate of the credit market protection reserve to two percent since October. China emerged from deflation in August. Rhodium: Western companies are redirecting investments from China to India and other countries. The Chamber of Commerce proposes to abolish detailed records of vehicle logs. Portuguese banker: The ECB could reduce inflation to two percent sooner. The Chinese economy is showing signs of stabilization, production and retail have improved. Analysts: Czechs' concerns about the economic situation are behind the decline in retail sales. CVVM: Three-fifths of Czechs are in favor of progressive income taxation, the trend is unchanged. Michl rejects an early cut in interest rates, expects low inflation next year. Zamrazilová: Monetary policy was weaker than central banks would have liked. The Liberec Region's Company of the Year is the synthetic crystal manufacturer Crytur. Analysts: Inflation is falling due to the comparative base, the effect is wearing off. CVVM: 57 percent of people perceive the Czech Republic's economic situation as bad. Association: Arms exports from the Czech Republic almost doubled last year to 30 billion crowns. Analysts: Higher costs are behind the decline in construction production, it is not worth building. Analysts: Industrial production in the Czech Republic in July fell the most since last April.

Stock markets: Gold price hits weekly high due to Middle East. Russian miner Alrosa halts diamond sales, wants to support falling prices. Analyst: Commodity prices on the markets have been falling this year, index is down 4.5 percent. Exports of gallium and germanium products in China stopped completely in August. Western companies want to reduce China's dominance by investing in synthetic graphite. FT: Uranium prices are at their highest in 12 years thanks to governments' interest in nuclear energy.

Finance: Britain has suspended interest rate hikes, base rate remains at 5.25 percent. Court of Auditors: Errors in EU budget spending increased significantly in 2022. Reuters: British bank Barclays plans to lay off 400 people. The Turkish central bank raised the base interest rate to 30 percent due to inflation. The Swiss central bank surprisingly left the base interest rate at 1.75 percent. The Russian central bank raised the base interest rate to 13 percent due to inflation. The IMF lowered its estimate of global economic growth for 2024, leaving this year's unchanged. Hypomonitor: The volume of mortgages in August was the highest since June 2022, rates fell. The Slovak Budget Council warned of the poor condition of the country's state finances. Bauer Media and Netrisk will own Srovnejto.cz, Klik.cz and ePojisteni.cz in the Czech Republic. The Czech National Bank will launch a registry that will allow sending money to a phone number. IIF: Global debt rose to a record 307 trillion USD in the quarter. Association: The number of payment cards in the Czech Republic increased by 750,000 this year to 14.75 million. The Polish central bank has cut the base interest rate by a quarter of a percentage point. The wealth of Czech households increased last year, but the increase did not exceed inflation. Comparator: The volume of corporate bonds fell in June, but yields rose. Index: The debt of Czechs is the tenth lowest in the EU, 46 percent of people in the Czech Republic have a loan. CNB: Net profit of banks in the first half of the year increased by 1.1 billion to 55.7 billion CZK.