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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: Agriculturalists: The strengthening of the koruna exchange rate will reduce EU subsidies in real terms. The state collected CZK 15 billion more in taxes this year at the end of September than a year ago. The Nobel Prize in Economics is awarded to David Card, Joshua Angrist and Guido Imbens. Rusnok: The latest inflation data do not mean a change for the CNB's monetary policy. Venezuela will remove six zeros from all banknotes from October due to hyperinflation. IMF: Introducing cryptocurrencies as legal tender is unreasonable and risky. El Salvador is the first country to adopt bitcoin as a national currency. Bloomberg: Taxing empty apartments of rich people will not solve the housing crisis. Industrial producer prices rose the most in about 17 years in July. According to Rusnok, Schillerová's statement regarding the CNB's rate increase is incompetent. Consumer prices rose by 3.4 percent year-on-year in July, the most in a year. Mikov achieved the withdrawal of a fake copy of the Rybička knife from two manufacturers. CNB: The number of currency exchange offices decreased by six percent compared to last year. Analysts: July inflation supports the scenario of further CNB rate increases. According to entrepreneurs, expensive energy has already affected the production of companies, including the Duslo chemical company. Analysts: July inflation supports the scenario of further CNB rate increases.

Stock exchanges: After three weeks of strike, the world's largest copper miner reached an agreement with unions. Manufacturers of metal products are projecting the price increase into an increase in the prices of their assortment. Duchcov manufacturer of semi-finished metal products faces a shortage of material. Bloomberg: The world is facing another price shock, silicon has risen in price by 300 percent. The price of gas in the US has fallen from a seven-year high, but interest in the raw material persists. A mining company backed by Bezos and Gates will search for metals in Greenland. The price of gold fell below $1,700 per troy ounce, later erasing part of the losses.

Finance: Evergrande will sell part of its stake in Shengjing Bank to a state asset manager. The Czech National Bank will no longer limit the payment of bank dividends across the board. The Russian Central Bank raised interest rates for the fifth time this year. Equa Bank was forced to shut down its systems overnight, clients had incorrect amounts in their accounts. The investment wine market is at its peak, prices have risen by 5.5 percent on average. Banking Association: 11 percent of Czechs are in risky debt this year. Gold and silver have fallen by six percent this year, but technical metals are rising in price. The Bank for Settlement of Payments will test the use of central bank digital currencies. The volume of housing loans fell in July, but it is still the third strongest month. Gold has fallen by almost a tenth this year, oil, gas and coal have risen significantly in price. South Korea's central bank has raised interest rates. Equity funds have earned over 16 percent this year, bond funds have lost 0.9 percent. Moody's: Islamic bond issues will not grow this year for the first time in five years. Lufthansa wants to raise 2.1 billion euros from the sale of shares to repay a state loan. Index: The average Czech investor in funds has earned 5.43 percent this year. The British central bank has not changed interest rates, but expects inflation to rise. The Polish central bank surprisingly raised the base interest rate to half a percent. The largest banks announced an increase in mortgage rates. Equity funds earned over 13 percent this year, bond funds lost 0.6 percent. Survey: Due to the pandemic, each household lost an average of 17,000 crowns this year. The British central bank did not change its monetary policy, warning of higher inflation. The Danish central bank slightly lowered interest rates.