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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: Eurozone inflation remained at 5.3 percent in August, growth moderation expected. Consumer confidence in the US fell, but inflation expectations improved. Czech GDP will fall by 0.2 percent this year, according to the Ministry of Finance, with full-year inflation at 10.9 percent. Chamber of Commerce: Excessive administration costs the state and companies billions of crowns. Analysts: The period of decline in the average real wage is the longest in the history of the Czech Republic. Survey: Companies want to get rid of workers on a contractual basis due to the upcoming changes. Analysts: Industry is going through a recession, which is only being mitigated by strong car production. Inflation in the Czech Republic is the fifth highest in OECD countries, a study has found. Inflation continued to slow, falling to 8.8 percent in July. Survey: 60 percent of companies are skeptical about the development of the Czech economy. Moody's: Due to persistent high inflation, global economic growth will slow down. The Czech National Bank's Bank Board perceives the risk of premature interest rate cuts. Indian company Adani faces accusations that it manipulated the price of its companies' shares. Kyocera AVX Components' net profit increased year-on-year to 171 million crowns. China recorded a decline in consumer prices for the first time since February 2021. FT: Chinese companies' interest in mergers and acquisitions in the US is the lowest in almost 20 years. The Czech National Bank slightly improved its estimate of the public finance deficit to 3.8 percent of GDP. The Czech National Bank's foreign exchange reserves fell by 16.4 billion euros year-on-year in July. Czech foreign trade ended in a surplus of 18.2 billion crowns in June. Unemployment rose to 3.5 percent, according to analysts, this is a seasonal development. Analysis: The Czech Republic still had the ninth highest inflation in Europe in July despite a decline.

Stock exchanges: The price of gold fell below $1,900 per ounce, the lowest since the end of June. Oil is getting cheaper due to concerns about the Chinese economy and a stronger dollar. Analysts: A global lithium shortage could occur as early as 2025.

Finance: The six largest banks in the Czech Republic saw their profits fall by CZK 2.5 billion year-on-year to CZK 37.1 billion. S&P Global lowered the credit ratings of several American banks. Association: Non-banking companies provided 5.5 percent more money in the first half of the year. Powell: It is not certain whether interest rates are high enough to tame inflation. The Partners Group expects to open Partners Bank to clients in the spring. Comparator: Ten bond issuers will be insolvent in a year and a half, or 1.7 percent. Analysts: The strengthening dollar is behind the fall in the price of gold. The Air Bank Group's net profit fell by 28 percent this year to CZK 1.244 billion. The Fitch agency confirmed the Czech Republic's rating, but the outlook remains negative. Renáta Kellnerová and her family now own the entire PPF investment group. China unexpectedly reduced some interest rates on loans to support the economy. Index: Most mutual funds made money for investors this year, especially equity funds. Swiss bank UBS had a record profit thanks to the takeover of Credit Suisse. Slovaks are facing higher mortgage payments, most households can handle it, according to the authorities. Chinese real estate giant warns of high losses, concerns about the real estate sector are growing. Someone won 117 million euros in Hamburg, almost three billion crowns. Russian Sberbank will pay three billion rubles in extraordinary tax to the budget. The symposium of central bankers in Jackson Hole has begun, Powell's speech is awaited. Survey: 81 percent of Czechs are worried about the consolidation package. CNB: Czech banks and insurance companies are quite resistant to the deterioration of the economy. Analysis: Only one percent of Czechs have financial assets over five million crowns.