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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: Exporters: Exports from the Czech Republic will be a record 3.8 trillion this year, but the balance will be negative. Gasoline and diesel are the most expensive in almost 7 years, according to analysts, the price will continue to rise. Fixed.zone received the CNB's approval for a public offering of shares today. According to the CNB, Czech households' debts to banks exceeded two trillion crowns. Producer prices in China rose to a record high in September due to commodity prices. North Korea is looking for new solutions to food shortages, raising black swans for food. Experts: Chip supplies for the automotive industry will only return to normal next year. Businesses: The CNB's sharp increase in rates will hit Czech companies hard. Last week, CNB board members Michl and Dědek voted again in favor of keeping rates unchanged. Expensiveness spoils Russians' enjoyment of the New Year holidays. The koruna strengthened below 25.20 CZK/EUR, making it the strongest since the end of February 2020. The Czech National Bank's foreign exchange reserves increased to 150.5 billion euros in November. The CNB will resume the sale of part of the proceeds from foreign exchange reserves after nine years. IMF mission: Czech economy will grow by 2.6 percent this year, by 3.5 percent next year.

Stock exchanges: WPIC: The platinum market will show the highest surplus in several years this year. The world's largest diamond miner warned that supplies will be limited for several years. For Škoda Auto, outages in magnesium supplies would mean significant restrictions. Metal processor Saker's sales increased to 2.374 billion crowns last year. The price of gold rose to a five-month high after the report on high inflation in the US. The EU and the US have resolved a protracted dispute over tariffs on aluminum and steel imposed by Trump.

Finance: The Rockaway Blockchain Fund invested over CZK 110 million in 1Inch. Lending Index: For an annual loan of CZK 50,000, people can give up to CZK 95,000 more. The profits of Citigroup, Morgan Stanley and Bank of America exceeded expectations. The South Korean central bank raised the interest rate for the second time this year. The quarterly profit of Goldman Sachs rose sharply, exceeding expectations. The Russian Expobank, which also does business in the Czech Republic, is negotiating the sale of its activities in Europe. The price of gold has fallen by 7.5 percent this year, and silver and platinum have become even cheaper. Global Payments is launching the acceptance of cryptocurrencies through its payment terminals. The head of the German central bank Jens Weidmann is resigning for personal reasons. UniCredit: The profitability of purchasing residential real estate has further declined significantly. Association: The popularity of savings in the 4th quarter of the year has increased after the previous decline. Fincentrum: The volume of mortgages has increased by 90 percent this year, last year was a record. Moneta's net profit has increased by more than half to CZK 2.9 billion. Trinity Bank created double the profit for the whole of 2020 in September. Australia's largest bank CBA will offer people cryptocurrency trading. Three-quarters of Czechs do not believe in investments, the elderly have the most knowledge. Economist: Current inflation will last for several more years. Survey: 59 percent of Czechs will not be frugal at Christmas due to the financial situation. Deutsche Bank analyst: Real yields will probably remain negative for a long time. Banks will pay more into reserves to protect the credit market. Turkey's central bank cuts interest rates again despite high inflation and weak currency. Pandemic increases super-rich share of global wealth. Experts: Tightening mortgage lending is not surprising, banks are already complying. Czechs plan to spend an average of 12,700 CZK for Christmas, survey shows. Study finds that only a handful of people and companies still hold the most bitcoin.