{"id":148865,"date":"2025-02-25T21:51:20","date_gmt":"2025-02-25T20:51:20","guid":{"rendered":"https:\/\/gazdasagportal.hu\/?p=148865"},"modified":"2025-02-25T21:51:20","modified_gmt":"2025-02-25T20:51:20","slug":"nincs-meglepetes-maradt-ma-is-a-kamat","status":"publish","type":"post","link":"https:\/\/gazdasagportal.hu\/index.php\/nincs-meglepetes-maradt-ma-is-a-kamat\/","title":{"rendered":"Nincs meglepet\u00e9s \u2013 maradt ma is a kamat"},"content":{"rendered":"<p style=\"font-weight: 400;\"><strong>A Monet\u00e1ris Tan\u00e1cs a febru\u00e1ri kamatmeghat\u00e1roz\u00f3 \u00fcl\u00e9s\u00e9n sem v\u00e1ltoztatott az ir\u00e1nyad\u00f3 kamatokon. A jegybanki alapkamat tov\u00e1bbra is 6,50 sz\u00e1zal\u00e9kon \u00e1ll. A kamatfolyos\u00f3 k\u00e9t sz\u00e9le szint\u00e9n v\u00e1ltozatlan maradt \u2013 5,50 illetve 7,50 sz\u00e1zal\u00e9kon. A d\u00f6nt\u00e9s nem okozott semmilyen meglepet\u00e9st, megfelelt a sz\u00e9les k\u00f6r\u0171 elemz\u0151i konszenzusnak. A d\u00f6nt\u00e9st a tan\u00e1cs egyhang\u00faan hozta, \u00e9s csak a \u201etart\u00e1s\u201d opci\u00f3 volt az asztalon a mai \u00fcl\u00e9sen.<\/strong><\/p>\n<p><!--more--><\/p>\n<div class=\"ads-in-post2\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-6t+ed+2i-1n-4w\"\r\n     data-ad-client=\"ca-pub-1959107119989764\"\r\n     data-ad-slot=\"4008251320\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p style=\"font-weight: 400;\"><strong>\u00a0<\/strong><\/p>\n<p style=\"font-weight: 400;\">A Monet\u00e1ris Tan\u00e1cs \u00e1ll\u00e1sfoglal\u00e1s\u00e1nak publik\u00e1l\u00e1s\u00e1val p\u00e1rhuzamosan Vir\u00e1g Barnab\u00e1s, a jegybank aleln\u00f6ke ismertette a d\u00f6nt\u00e9s h\u00e1tter\u00e9t. A helyzet \u00e9rt\u00e9kel\u00e9se \u2013 nem meglep\u0151 m\u00f3don &#8211; az infl\u00e1ci\u00f3val indult. A glob\u00e1lis dezinfl\u00e1ci\u00f3s folyamatok tavaly \u0151sszel kezd\u0151d\u0151 elakad\u00e1sa mellett az aleln\u00f6k besz\u00e9lt a v\u00e1rtn\u00e1l magasabb hazai janu\u00e1ri infl\u00e1ci\u00f3s adatokr\u00f3l, ezen bel\u00fcl is a piaci szolg\u00e1ltat\u00e1sok er\u0151s \u00e9v eleji \u00e1t\u00e1raz\u00e1s\u00e1r\u00f3l. Vir\u00e1g szerint n\u0151tt a magasabb infl\u00e1ci\u00f3s p\u00e1lya kock\u00e1zata, emellett kiemelte, hogy a szolg\u00e1ltat\u00f3 szektor \u00e1t\u00e1raz\u00e1sai, illetve az infl\u00e1ci\u00f3s v\u00e1rakoz\u00e1sok nincsenek \u00f6sszhangban az \u00e1rstabilit\u00e1s el\u00e9r\u00e9s\u00e9vel. A v\u00e1rakoz\u00e1sok m\u00e9rs\u00e9kl\u00e9se, horgonyz\u00e1sa, a c\u00e9llal val\u00f3 \u00f6sszhangba hoz\u00e1sa \u00edgy fontos feladata maradt a monet\u00e1ris politik\u00e1nak.<\/p>\n<p style=\"font-weight: 400;\">Ami a glob\u00e1lis piaci folyamatok alakul\u00e1s\u00e1t illeti, a k\u00e9t nagy jegybank (Fed \u00e9s EKB) kamatai k\u00f6z\u00f6tt a k\u00fcl\u00f6nbs\u00e9g tov\u00e1bb n\u0151het, ami a felt\u00f6rekv\u0151 piacok kock\u00e1zati meg\u00edt\u00e9l\u00e9se szempontj\u00e1b\u00f3l kedvez\u0151tlen, s ez is a tov\u00e1bbi \u00f3vatoss\u00e1g mellett sz\u00f3l. A monet\u00e1ris politika mozg\u00e1ster\u00e9t tov\u00e1bbra is az infl\u00e1ci\u00f3s kil\u00e1t\u00e1sok, a kock\u00e1zati meg\u00edt\u00e9l\u00e9s v\u00e1ltoz\u00e1sai \u00e9s a p\u00e9nz\u00fcgyi piaci stabilit\u00e1si szempontok hat\u00e1rozz\u00e1k meg.<\/p><div id=\"gazda-2879525734\" class=\"gazda-tartalomban gazda-entity-placement\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-6t+ed+2i-1n-4w\"\r\n     data-ad-client=\"ca-pub-1959107119989764\"\r\n     data-ad-slot=\"4008251320\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p style=\"font-weight: 400;\">A Monet\u00e1ris Tan\u00e1cs el\u0151retekint\u0151 ir\u00e1nymutat\u00e1sa a janu\u00e1rival megegyez\u0151 szigort mutatta: \u201eA kereskedelem- \u00e9s geopolitikai fesz\u00fclts\u00e9gek, a felfel\u00e9 mutat\u00f3 infl\u00e1ci\u00f3s kock\u00e1zatok, valamint a meghat\u00e1roz\u00f3 jegybankok kamatp\u00e1ly\u00e1j\u00e1t \u00f6vez\u0151 bizonytalans\u00e1g miatt tov\u00e1bbra is \u00f3vatos \u00e9s t\u00fcrelmes monet\u00e1ris politika indokolt. A Tan\u00e1cs meg\u00edt\u00e9l\u00e9se szerint a bizonytalan nemzetk\u00f6zi k\u00f6rnyezet \u00e9s az infl\u00e1ci\u00f3s kil\u00e1t\u00e1sok a szigor\u00fa monet\u00e1ris kond\u00edci\u00f3k fenntart\u00e1s\u00e1t indokolj\u00e1k.\u201d<\/p>\n<p style=\"font-weight: 400;\">A mai \u00fcl\u00e9s ut\u00e1n teh\u00e1t \u00f6sszess\u00e9g\u00e9ben \u00edgy a gyorsan v\u00e1ltoz\u00f3 \u00e9s nehezen el\u0151rejelezhet\u0151 k\u00f6zegben az \u00f3vatos megk\u00f6zel\u00edt\u00e9st, \u00e9s a szigor\u00fa monet\u00e1ris politika fenntart\u00e1s\u00e1nak sz\u00fcks\u00e9gess\u00e9g\u00e9t hangs\u00falyozta ism\u00e9t az MNB. Figyelembe v\u00e9ve a szigor\u00fa \u00e1ll\u00e1spontot \u00e9s az infl\u00e1ci\u00f3s kil\u00e1t\u00e1sokkal kapcsolatos bizonytalans\u00e1gokat mi sem v\u00e1rjuk a kamatcs\u00f6kkent\u00e9si ciklus \u00fajraind\u00edt\u00e1s\u00e1t az elk\u00f6vetkez\u0151 h\u00f3napokban. Az \u00e9v m\u00e1sodik fel\u00e9ben ny\u00edlhat esetleg t\u00e9r nagyon \u00f3vatos enyh\u00edt\u0151 l\u00e9p\u00e9sekre, amennyiben l\u00e1tszanak a dezinfl\u00e1ci\u00f3 \u00fajraindul\u00e1s\u00e1nak a jelei, a fentebb eml\u00edtett kock\u00e1zati faktorokban is \u00e9rdemi javul\u00e1s k\u00f6vetkezik be \u00e9s nemzetk\u00f6zi k\u00f6rnyezet mostani bizonytalans\u00e1gai cs\u00f6kkennek.<\/p>\n<p><strong>(<b>Nyeste Orsolya, vezet\u0151 makrogazdas\u00e1gi elemz\u0151 &#8211; Erste<\/b>)<\/strong><\/p>\n<p style=\"font-weight: 400;\"><strong>\u00a0<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A Monet\u00e1ris Tan\u00e1cs a febru\u00e1ri kamatmeghat\u00e1roz\u00f3 \u00fcl\u00e9s\u00e9n sem v\u00e1ltoztatott az ir\u00e1nyad\u00f3 kamatokon. A jegybanki alapkamat tov\u00e1bbra is 6,50 sz\u00e1zal\u00e9kon \u00e1ll. A kamatfolyos\u00f3 k\u00e9t sz\u00e9le szint\u00e9n v\u00e1ltozatlan maradt \u2013 5,50 illetve 7,50 sz\u00e1zal\u00e9kon. A d\u00f6nt\u00e9s nem okozott semmilyen meglepet\u00e9st, megfelelt a sz\u00e9les k\u00f6r\u0171 elemz\u0151i konszenzusnak. A d\u00f6nt\u00e9st a tan\u00e1cs egyhang\u00faan hozta, \u00e9s csak a \u201etart\u00e1s\u201d opci\u00f3 &#8230;<\/p>\n","protected":false},"author":1001010,"featured_media":145957,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[436,19],"tags":[],"_links":{"self":[{"href":"https:\/\/gazdasagportal.hu\/index.php\/wp-json\/wp\/v2\/posts\/148865"}],"collection":[{"href":"https:\/\/gazdasagportal.hu\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/gazdasagportal.hu\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/gazdasagportal.hu\/index.php\/wp-json\/wp\/v2\/users\/1001010"}],"replies":[{"embeddable":true,"href":"https:\/\/gazdasagportal.hu\/index.php\/wp-json\/wp\/v2\/comments?post=148865"}],"version-history":[{"count":2,"href":"https:\/\/gazdasagportal.hu\/index.php\/wp-json\/wp\/v2\/posts\/148865\/revisions"}],"predecessor-version":[{"id":148867,"href":"https:\/\/gazdasagportal.hu\/index.php\/wp-json\/wp\/v2\/posts\/148865\/revisions\/148867"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/gazdasagportal.hu\/index.php\/wp-json\/wp\/v2\/media\/145957"}],"wp:attachment":[{"href":"https:\/\/gazdasagportal.hu\/index.php\/wp-json\/wp\/v2\/media?parent=148865"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/gazdasagportal.hu\/index.php\/wp-json\/wp\/v2\/categories?post=148865"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/gazdasagportal.hu\/index.php\/wp-json\/wp\/v2\/tags?post=148865"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}