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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 Swiss Central Bank has ended the era of negative interest rates in Europe. Vinyl producer GZ Media is considering moving part of its production outside the Czech Republic due to energy. Inflation in Turkey rose to 83.5 percent in September, the highest since 1998. The British finance minister promises that he will be able to restore the confidence of financial markets. The Ministry of Finance will propose a 60 percent tax on extraordinary profits for banks, refineries and miners. The company of the Pilsen region is nanoSPACE from Domažlice, the self-employed person is a carver Karel Tittl. The company of the year in South Moravia is the Śląskie engineering plant, the self-employed person is a blacksmith. MPs will begin to consider the draft state budget for next year. Analysts: The increase in rates by the European Central Bank will increase pressure on the crown. The IMF has downgraded its estimate of Czech economic growth for this year to 1.9 percent. Experts do not have much faith in the estimated yield of the tax on extraordinary profits. Inflation rose to 18 percent in September, and according to the CNB and analysts, it is approaching its peak. Analysts expect the CNB to maintain its seven percent interest rate. Reuters: German bakers are being burned by rising energy prices. Eurogroup: Inflation in EU countries is between six and 20 percent, it must be reduced. The company of the year in the Karlovy Vary region is a wig seller, the sole proprietor is a violin maker. Foreign investors hold 27.1 percent of Czech government bonds. The Hungarian Central Bank has increased the interest rate to 13 percent, surprisingly significantly. Confederation of Industry: Companies need a unified European solution to the energy crisis. The CNB is issuing a silver commemorative coin with the Zátopeks. The Swedish central bank has raised its main interest rate by the most since 1992. The Australian central bank has raised its interest rate to a nine-year high of 2.60 percent. The prime minister and local governments welcome the energy price cap, economists expect higher costs. According to the head of German employers, the crisis will not be overcome without state intervention. Stanjura: Despite the pandemic and the effects of the war, fiscal discipline cannot be neglected. The CNB Council today left the credit market protection rate unchanged. According to the central bank, the German economy is apparently on the verge of recession. The British central bank is starting temporarily unlimited purchases of government bonds. Central bank: Banknotes with the image of the Queen remain legal tender. Inflation has exceeded market expectations, according to analysts it is close to the peak. Síkela: There is enough money for the energy transformation, countries must focus on projects. Analyst: The Czech National Bank supported the koruna exchange rate by 59 billion CZK in August, less than in July. The Japanese central bank did not change interest rates, promoting a loose monetary policy. The banking association offers up to 50 billion CZK instead of taxes to support the economy.

Stock exchanges: Analyst: The stock exchange price of gas has increased by 120 percent this year, precious metals have become cheaper. Bruegel: European governments have allocated 500 billion euros to help energy consumers.

Finance: Study: Global banking revenues will grow by more than six percent annually. A Moscow court has accepted the bankruptcy declaration of the Russian division of Google. According to sources, Swiss Credit Suisse is working on a possible capital increase. Credit Suisse shares are falling sharply, having already lost a record 60 percent this year. Association: Savings popularity plummeted in the third quarter. Lebanese banks have suspended services to clients due to increasing robberies. The US is establishing a fund to help Afghans, the money will be transferred from frozen accounts. A member of parliament and supporters came to a Beirut bank to withdraw frozen money. Comparator: Almost a third of bonds on the Czech market are risky.