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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: Inflation rose significantly to 5.8 percent in October and will continue to rise. IMF: El Salvador should not use the cryptocurrency bitcoin as legal tender. High prices spoil Russians' enjoyment of the New Year holidays. Analysts: Industry fell in September due to a shortage of parts for car production. Analysts: Wages will continue to grow, but high inflation will devalue them. Year-on-year inflation accelerated to 6 percent in November and prices will continue to rise. The inflation rate in Turkey rose above 36 percent, significantly exceeding estimates. Industrial producer prices rose by 13.5 percent in November, the most since the founding of the Czech Republic. Developers disagree on the consequences of the interest rate hike, even talking about a real estate bubble. According to the Czech National Bank, Czech households' debts to banks exceeded two trillion crowns. Rusnok: An increase in rates above five percent next year is extremely unlikely. SP: Three-quarters of companies have seen an increase in raw material prices. AP: Bulgarians are traveling en masse to Turkey, using the fall in the local currency to make purchases. Analysts: Inflation was mainly affected by the VAT exemption, but it will still grow. Businesses: Czech economic growth will reach four percent in 2022. Household debts with banks rose to 2.032 trillion crowns in November. Unemployment in Germany fell to 5.2 percent in December, the lowest since the pandemic. The crown strengthened below 25.20 CZK/EUR, making it the strongest since the end of February 2020.

Stock exchanges: WPIC: The platinum market will show the highest surplus in several years this year. Analysts: Stocks appreciated the most this year, bonds and gold lost. Experts: Precious metals fell last year, oil and industrial metals rose significantly. The price of gold is losing almost four percent this year, the most since 2015. The price of gold rose to a five-month high after the report on high inflation in the US.

Finance: The Polish central bank raised interest rates the most since 2000. Banks provided mortgages worth CZK 40.4 billion in October, slightly more than in September. Survey: 59 percent of Czechs will not be frugal at Christmas due to their financial situation. J&T: Most dollar millionaires in the Czech Republic and Slovakia are now most worried about inflation. Analysts: The increase in the CNB's base rate will quickly be reflected in the rise in the cost of loans. Association: The popularity of savings increased in the 4th quarter of the year after the previous decline. UniCredit Bank: Demand for real estate has the character of a speculative bubble. The Rockaway Blockchain Fund invested over CZK 110 million in the company 1Inch. Australian company Zip completed the purchase of Czech fintech Twisto. According to the survey, about a third of people are not going to protect their savings against inflation. The Russian Central Bank has increased the base interest rate to 8.5 percent. Experts: The tightening of mortgage lending is not surprising, banks are already complying with it. The ECB will end the emergency pandemic bond purchase program at the end of March. The Turkish Central Bank has cut interest rates again despite high inflation and a weak currency. The pandemic is increasing the share of the super-rich in global wealth. The British Central Bank did not increase interest rates, but the pound then weakened significantly. Fed begins to reduce support for the economy, will reduce bond purchases. Poland's central bank raised the main interest rate to 1.75 percent due to inflation. Hungary's central bank raised the base interest rate to a seven-year high of 2.4 percent. Italian bank MPS wants to raise 2.5 billion euros from the sale of shares next year. The price of gold has fallen by 7.5 percent this year, with silver and platinum falling even more. The central bank warned against investing in virtual tokens.