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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 British central bank begins temporarily unlimited purchases of government bonds. Austrian: If the EU finds an agreement, it could lead to calm in energy markets. According to the Chamber of Commerce, the current economic crisis is worse than the pandemic. The Swedish central bank has increased the main interest rate the most since 1992. Analysts: Czechs became poorer in the second quarter than in the country's history since 1993. The Czech National Bank issues a silver commemorative coin with the Zátopek couple. Real wages fell by 9.8 percent, according to analysts, people became poorer the most since the founding of the Czech Republic. Germany is preparing another package of inflation relief for its residents worth 65 billion euros. The Czech Republic is the fastest-indebted country in the EU, warns the National Audit Office. The Malaysian Supreme Court confirmed the 12-year sentence for the former prime minister for corruption. Analyst: The Czech National Bank increased the support for the crown to CZK 246 billion in July. Stanjura: Despite the pandemic and the effects of the war, fiscal discipline cannot be neglected. The Icelandic central bank raised the base interest rate to a six-year high. Eurometaux: The energy crisis is an existential threat to metal production in Europe. The British central bank raised interest rates despite the expected economic recession. European finance ministers and governors will meet in Prague on Friday and Saturday. The Fed raised the base interest rate as expected, the rate is the highest since 2008. Matovič: EU finance ministers agreed today on a CZK 5 billion loan for Ukraine. EU ministers will discuss in Prague how to deal with unforeseen events. States can also use money from EU funds to solve the energy crisis, said Bartoš. The eurozone needs another significant interest rate hike in September, according to one banker. Fiscal Council: There is no motivation to consolidate finances after the relaxation of rules. Central Bank: Banknotes with the image of the Queen remain legal tender. Eurogroup: Inflation in EU countries is between six and 20 percent, it must be reduced. The state and local governments spent CZK 12.6 billion on the refugee crisis at the end of July. Síkela: The government will discuss options for a state-owned energy trader on Wednesday. Study: The number of corporate bankruptcies in August was among the highest this year. The CNB Council left the credit market protection rate unchanged today. Analysts: August's increase in unemployment signals an approaching recession. Vinyl producer GZ Media is considering moving part of its production outside the Czech Republic due to energy. Inflation in Germany accelerated again in August to 7.9 percent after two months. According to the head of German employers, the crisis will not be overcome without state intervention. Zeman and local governments welcome the energy price cap, economists expect higher costs. The leader of the Italian League party wants 30 billion euros for companies due to expensive energy. Association: Small rural shops are closing due to expensive energy, the situation will worsen. Fiala: The Czech Republic and Poland have renewed cooperation on the Stork II gas pipeline. Inflation in Hungary has risen to 15.6 percent, mainly food prices are rising.

Stock exchanges: Expert: The price of gold fell sharply this week to an almost 2.5-year low. The Russian company Alrosa is again selling large quantities of diamonds, especially to India. Rio Tinto will buy the remaining stake in Canadian Turquoise Hill for 3.3 billion USD. The price of electricity on the Prague Stock Exchange exceeded 1,000 euros per megawatt hour today.

Finance: ČSOB survey: Innovations are still lacking in the Czech Republic. Comparator: Almost a third of bonds on the Czech market are risky. Moscow court accepts bankruptcy declaration by Google's Russian division. Financial institutions paid 716 million crowns more to the Guarantee System year-on-year.