{"id":76157,"date":"2016-03-11T11:42:30","date_gmt":"2016-03-11T10:42:30","guid":{"rendered":"http:\/\/gazdasagportal.hu\/?p=76157"},"modified":"2016-03-11T11:37:44","modified_gmt":"2016-03-11T10:37:44","slug":"eros-a-kisertes-az-mnb-szamara","status":"publish","type":"post","link":"https:\/\/gazdasagportal.hu\/index.php\/eros-a-kisertes-az-mnb-szamara\/","title":{"rendered":"Er\u0151s a k\u00eds\u00e9rt\u00e9s az MNB sz\u00e1m\u00e1ra"},"content":{"rendered":"<p><strong>Am\u00edg az Eur\u00f3pai K\u00f6zponti Bank tov\u00e1bbra is laz\u00edt, addig er\u0151s a k\u00eds\u00e9rt\u00e9s az MNB sz\u00e1m\u00e1ra, hogy \u00fajb\u00f3l cs\u00f6kkentse a hazai alapkamatot. Ez pedig azt jelenti, hogy a magyar k\u00f6tv\u00e9nypiac tov\u00e1bbra is \u00edg\u00e9retes befektet\u00e9si c\u00e9lpont.<\/strong><!--more--><\/p>\n<div class=\"ads-in-post1\"><div id=\"gazdasagportal.hu_fullbanner_wideboard\"><\/div>\r\n<\/div>\n<p>\u201eM\u00falt h\u00e9ten a piacok h\u00e1rom fronton is meger\u0151s\u00edt\u00e9st kaptak, mivel az Eur\u00f3pai K\u00f6zponti Bank nagy meglepet\u00e9sre nemcsak a bet\u00e9ti kamatot, de az alapkamatot is cs\u00f6kkentette, \u00e9s a k\u00f6tv\u00e9nyv\u00e1s\u00e1rl\u00e1si program keret\u00f6sszeg\u00e9t is n\u00f6velte \u2013 havi 60-r\u00f3l 80 milli\u00e1rd eur\u00f3ra. Ez hazai szemmel n\u00e9zve legink\u00e1bb a k\u00f6tv\u00e9nypiac sz\u00e1m\u00e1ra lehet kedvez\u0151, hiszen az EKB tov\u00e1bb lazul\u00f3 monet\u00e1ris politik\u00e1ja lehet\u0151s\u00e9get teremt a Magyar Nemzeti Bank sz\u00e1m\u00e1ra az \u00fajabb kamatcs\u00f6kkent\u00e9sre\u201d &#8211; t\u00e1j\u00e9koztatott <strong>Kov\u00e1cs M\u00e1ty\u00e1s, a K&amp;H Alapkezel\u0151 szenior portf\u00f3li\u00f3-menedzsere.<\/strong><\/p>\n<p>&nbsp;<\/p><div id=\"gazda-842454349\" 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>Mivel az EKB j\u00f3l meghat\u00e1rozott c\u00e9lja az infl\u00e1ci\u00f3 t\u00e1mogat\u00e1sa, ez\u00e9rt &#8211; Sv\u00e1jchoz hasonl\u00f3an, ahol jelenleg -0,75% a bet\u00e9ti kamat \u2013 elm\u00e9letileg ak\u00e1r m\u00e9g lejjebb is mehet az eur\u00f3 kamata. Ezzel egy\u00fctt pedig tov\u00e1bb er\u0151s\u00f6dik az a v\u00e9leked\u00e9s, hogy a k\u00f6zponti bank a p\u00e9nz\u00fcgyi elnyom\u00e1s (financial repression) \u00fajabb elem\u00e9t is beveti: a csup\u00e1n 2002-ben bevezetett 500 eur\u00f3s bankjegy megsz\u00fcntet\u00e9s\u00e9vel korl\u00e1tozhatja a k\u00e9szp\u00e9nzforgalmat \u00e9s az eur\u00f3 bet\u00e9tetek kivon\u00e1s\u00e1t.<\/p>\n<p>&nbsp;<\/p>\n<p><strong>ek\u00f6zben a tengerent\u00falon\u2026<\/strong><\/p>\n<p>M\u00edg Eur\u00f3p\u00e1ban a galambok repkednek, addig a Fed m\u00e1r a k\u00f6vetkez\u0151 kamatemel\u00e9sre k\u00e9sz\u00fcl. Nem csoda, hiszen a stabil gazdas\u00e1gi n\u00f6veked\u00e9s mellett a munkaer\u0151piac is er\u0151s\u00f6dik. A jegybankok elt\u00e9r\u0151 politik\u00e1ja egy\u00fattal az amerikai doll\u00e1r er\u0151s\u00f6d\u00e9s\u00e9t is t\u00e1mogatja az eur\u00f3val szemben, \u00edgy a k\u00f6vetkez\u0151 h\u00f3napokban az eur\u00f3\/doll\u00e1r \u00e1rfolyam cs\u00f6kken\u00e9s\u00e9re lehet sz\u00e1m\u00edtani.<\/p>\n<p>&nbsp;<\/p>\n<p><strong>tov\u00e1bbi aktu\u00e1lis t\u0151kepiaci h\u00edrek \u00e9s befektet\u00e9si tippek: <\/strong><a href=\"http:\/\/trendmonitor.hu\/\" target=\"_blank\" rel=\"noopener\"><strong>http:\/\/trendmonitor.hu\/<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Am\u00edg az Eur\u00f3pai K\u00f6zponti Bank tov\u00e1bbra is laz\u00edt, addig er\u0151s a k\u00eds\u00e9rt\u00e9s az MNB sz\u00e1m\u00e1ra, hogy \u00fajb\u00f3l cs\u00f6kkentse a hazai alapkamatot. Ez pedig azt jelenti, hogy a magyar k\u00f6tv\u00e9nypiac tov\u00e1bbra is \u00edg\u00e9retes befektet\u00e9si c\u00e9lpont.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[19],"tags":[],"_links":{"self":[{"href":"https:\/\/gazdasagportal.hu\/index.php\/wp-json\/wp\/v2\/posts\/76157"}],"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\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/gazdasagportal.hu\/index.php\/wp-json\/wp\/v2\/comments?post=76157"}],"version-history":[{"count":1,"href":"https:\/\/gazdasagportal.hu\/index.php\/wp-json\/wp\/v2\/posts\/76157\/revisions"}],"predecessor-version":[{"id":76158,"href":"https:\/\/gazdasagportal.hu\/index.php\/wp-json\/wp\/v2\/posts\/76157\/revisions\/76158"}],"wp:attachment":[{"href":"https:\/\/gazdasagportal.hu\/index.php\/wp-json\/wp\/v2\/media?parent=76157"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/gazdasagportal.hu\/index.php\/wp-json\/wp\/v2\/categories?post=76157"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/gazdasagportal.hu\/index.php\/wp-json\/wp\/v2\/tags?post=76157"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}