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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: Purchasing Managers' Index: Conditions in industry worsened in August. Inflation in Hungary rose to 15.6 percent, mainly food prices are rising. Bartoš: EU cohesion funds can provide money for projects threatened by price increases. Síkela: The government will discuss the options for a state energy trader on Wednesday. According to one banker, the eurozone needs another significant interest rate increase in September. The inflation rate in Turkey has risen to 80.2 percent, the growth rate is slowing. In the opening round, the Chamber of Deputies supported increasing this year's deficit to CZK 330 billion. According to the German government, anti-Russian sanctions are effective and harm Russia more than the EU. EU ministers will discuss solutions to unforeseen events in Prague. The Fed raised the base rate as expected, the rate is the highest since 2008. Study: The number of corporate bankruptcies in August was among the highest this year. Stanjura: Despite the pandemic and the impacts of the war, fiscal discipline cannot be neglected. Matovič: EU finance ministers agreed today on a CZK 5 billion loan for Ukraine. Central Bank: Banknotes with the image of the Queen remain legal tender. Solomon will submit a package of proposals to the government to reduce the administrative burden. Eurogroup: Inflation in EU countries is between six and 20 percent, it must be reduced. Prague will give city halls CZK 265.95 million to help families threatened by inflation. Foxconn CZ ended last year with a loss of CZK 282 million, sales fell to CZK 78 billion. Year-on-year inflation reached 17.2 percent in August, the growth rate slowed down after about a year. Germany is preparing another package of inflation relief for its citizens worth 65 billion euros. The British central bank has raised interest rates despite the expected economic recession. Vinyl producer GZ Media is considering moving part of its production outside the Czech Republic due to energy. Czech household debts to banks rose by 8.4 billion to 2.11 trillion CZK in July. The Czech Republic is the fastest-indebted country in the EU, warns the National Audit Office. According to the head of German employers, the crisis will not be overcome without state intervention. The Malaysian Supreme Court has confirmed the 12-year sentence for the former prime minister for corruption. Analysts: The European Central Bank's rate hike will increase pressure on the crown. The strongest Slovak government movement has proposed raising taxes and introducing a new one. The leader of the Italian League party wants 30 billion euros for companies due to expensive energy. While Britain counts change, we count victims, said Olena Zelenská. The Czech National Bank is issuing a silver commemorative coin with the Zátopek couple. The Budget Forecast Committee is optimistic. The Icelandic Central Bank has raised the base interest rate to a six-year high. Business unions: The Czech Republic should not copy German solutions to the energy crisis. Inflation in Germany accelerated again in August after two months to 7.9 percent. Fiala: The Czech Republic and Poland have renewed cooperation on the Stork II gas pipeline. The Czech Republic is the fastest-indebted country in the EU, warns the SAO.

Stock exchanges: Analyst: Gas has risen in price by 170 percent this year, oil by 30 percent, precious metals have fallen in price. The price of electricity on the Prague stock exchange exceeded 1,000 euros per megawatt hour today. Bruegel: European governments have allocated 500 billion euros to help energy consumers. Expert: The price of gold fell sharply this week to an almost 2.5-year low.

Finance: Comparator: Almost a third of bonds on the Czech market are risky. Association: The popularity of savings fell sharply in the third quarter. The Moscow court accepted the bankruptcy declaration of the Russian division of Google. Financial institutions paid 716 million crowns more to the Guarantee System year-on-year.