{"id":33060,"date":"2022-12-16T21:45:00","date_gmt":"2022-12-16T19:45:00","guid":{"rendered":"https:\/\/economic.karpat.in.ua\/?p=33060"},"modified":"2022-12-16T13:36:05","modified_gmt":"2022-12-16T11:36:05","slug":"elhuzodo-inflaciora-szamit-az-ekb-tovabbi-nagy-kamatemelesek-johetnek","status":"publish","type":"post","link":"https:\/\/economic.karpat.in.ua\/?p=33060&lang=hu","title":{"rendered":"Elh\u00faz\u00f3d\u00f3 infl\u00e1ci\u00f3ra sz\u00e1m\u00edt az EKB, tov\u00e1bbi nagy kamatemel\u00e9sek j\u00f6hetnek"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>Hozta a v\u00e1rt 50 b\u00e1zispontos kamatemel\u00e9st az EKB, Christine Lagarde tov\u00e1bbi jelent\u0151s emel\u00e9seket \u00edg\u00e9rt. A jegybank n\u00f6velte az infl\u00e1ci\u00f3s progn\u00f3zis\u00e1t, m\u00e9g 2025-ben sem cs\u00f6kken a 2 sz\u00e1zal\u00e9kos c\u00e9lra a fogyaszt\u00f3i \u00e1rak n\u00f6veked\u00e9si \u00fcteme.<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A v\u00e1rtnak megfelel\u0151en 50 b\u00e1zisponttal, 2 sz\u00e1zal\u00e9kra emelte ir\u00e1nyad\u00f3 kamat\u00e1t az Eur\u00f3pai K\u00f6zponti Bank (EKB). A piacok a d\u00f6nt\u00e9st megel\u0151z\u0151en m\u00e1rciusra 2,75 sz\u00e1zal\u00e9kot \u00e1raztak, elemz\u0151k szerint viszont csak j\u00faniusra \u00e9rheti el ezt a szintet a r\u00e1ta. Christine Lagarde, az EKB eln\u00f6ke h\u00e1romnegyed 3-kor kezdi meg sajt\u00f3t\u00e1j\u00e9koztat\u00f3j\u00e1t, ezen a legfontosabb k\u00e9rd\u00e9s az lehet, hogy a jegybank milyen \u00fctemez\u00e9sben \u00e9s temp\u00f3ban k\u00edv\u00e1n megszabadulni a gazdas\u00e1g\u00e9l\u00e9nk\u00edt\u0151 k\u00f6tv\u00e9nyv\u00e1s\u00e1rl\u00e1si program sor\u00e1n felhalmoz\u00f3dott \u00e1llom\u00e1nyt\u00f3l.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/economic.karpat.in.ua\/wp-content\/uploads\/2022\/12\/lagarde-ekb-572958-1024x576.jpg\" alt=\"\" class=\"wp-image-33061\" srcset=\"https:\/\/economic.karpat.in.ua\/wp-content\/uploads\/2022\/12\/lagarde-ekb-572958-1024x576.jpg 1024w, https:\/\/economic.karpat.in.ua\/wp-content\/uploads\/2022\/12\/lagarde-ekb-572958-300x169.jpg 300w, https:\/\/economic.karpat.in.ua\/wp-content\/uploads\/2022\/12\/lagarde-ekb-572958-768x432.jpg 768w, https:\/\/economic.karpat.in.ua\/wp-content\/uploads\/2022\/12\/lagarde-ekb-572958.jpg 1125w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n<\/div>\n\n\n<p class=\"wp-block-paragraph\">A jegybank indokl\u00e1sa szerint folytat\u00f3dnak a kamatemel\u00e9sek, az infl\u00e1ci\u00f3s p\u00e1lya felfel\u00e9 mutat\u00f3 kock\u00e1zatokkal terhes. A k\u00f6zlem\u00e9ny lesz\u00f6gezi:&nbsp; \u201eTov\u00e1bbi jelent\u0151s monet\u00e1ris szigor\u00edt\u00e1s sz\u00fcks\u00e9ges ahhoz, hogy a 2 sz\u00e1zal\u00e9kos infl\u00e1ci\u00f3s c\u00e9l teljes\u00fclj\u00f6n.\u201d&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Ezt Christine Lagarde is meger\u0151s\u00edtette sajt\u00f3t\u00e1j\u00e9koztat\u00f3j\u00e1n. Az indokl\u00e1s szerint tov\u00e1bbra is marad az adatvez\u00e9relt monet\u00e1ris politika, magyarul ez azt jelenti, hogy am\u00edg az infl\u00e1ci\u00f3 nem k\u00f6zel\u00edt a c\u00e9l fel\u00e9, addig marad a szigor.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A gazdas\u00e1g\u00e9l\u00e9nk\u00edt\u0151 program kapcs\u00e1n felhalmozott k\u00f6tv\u00e9ny\u00e1llom\u00e1nyt (APP) a j\u00f6v\u0151 \u00e9v m\u00e1rcius\u00e1t\u00f3l havi 15 milli\u00e1rd eur\u00f3val cs\u00f6kkentik \u2013 eg\u00e9szen a m\u00e1sodik negyed\u00e9v v\u00e9g\u00e9ig \u2013, f\u0151leg a lej\u00e1ratok r\u00e9v\u00e9n. Az ezt k\u00f6vet\u0151 strat\u00e9gi\u00e1r\u00f3l k\u00e9s\u0151bb hoznak d\u00f6nt\u00e9st. Lagarde hangs\u00falyozta, hogy a f\u0151 monet\u00e1ris politikai eszk\u00f6znek tov\u00e1bbra is a kamatot tekintik, \u00edgy val\u00f3sz\u00edn\u0171s\u00edthet\u0151, hogy a k\u00f6tv\u00e9ny\u00e1llom\u00e1ny le\u00e9p\u00edt\u00e9s\u00e9t nem haszn\u00e1lj\u00e1k \u201efegyverk\u00e9nt\u201d, csak kieg\u00e9sz\u00edti a kamatpolitik\u00e1t.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Az EKB&nbsp;j\u00f3csk\u00e1n felfel\u00e9 m\u00f3dos\u00edtotta az infl\u00e1ci\u00f3s el\u0151rejelz\u00e9s\u00e9t, az id\u00e9n \u00e9ves \u00e1tlagban 8,4 sz\u00e1zal\u00e9k lehet az infl\u00e1ci\u00f3, ami j\u00f6v\u0151re 6,3 sz\u00e1zal\u00e9kra m\u00e9rs\u00e9kl\u0151dik, majd 2024-ben 3,4, 2025-ben 2,3 sz\u00e1zal\u00e9k lehet, vagyis m\u00e9g akkor sem \u00e9ri el az infl\u00e1ci\u00f3s c\u00e9lt. Az \u00e9lelmiszerek \u00e9s az energia n\u00e9lk\u00fcl sz\u00e1molt maginfl\u00e1ci\u00f3t az id\u00e9n \u00e9ves \u00e1tlagban 3,9 sz\u00e1zal\u00e9kra v\u00e1rja a jegybank, ami j\u00f6v\u0151re 4,2, 2024-ben 2,8, 2025-ben pedig 2,4 sz\u00e1zal\u00e9kra m\u00e9rs\u00e9kl\u0151dik. Ezzel p\u00e1rhuzamosan a gazdas\u00e1gi n\u00f6veked\u00e9s f\u00e9l sz\u00e1zal\u00e9k lehet j\u00f6v\u0151re, viszont az EKB szerint elker\u00fclhet\u0151 a recesszi\u00f3, legal\u00e1bbis \u00e9ves szinten. Lagarde hangs\u00falyozta, hogy a kock\u00e1zatok lefel\u00e9 mutatnak. Az idei negyedik \u00e9s a j\u00f6v\u0151 \u00e9vi els\u0151 negyed\u00e9vben \u00e1tmeneti, enyhe gazdas\u00e1gi visszaes\u00e9sre sz\u00e1m\u00edt a k\u00f6zponti bank.&nbsp;<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/economic.karpat.in.ua\/wp-content\/uploads\/2022\/12\/414a9a1d507f4f678a6cee454d6de7eb.jpg\" alt=\"\" class=\"wp-image-33062\" width=\"818\" height=\"511\" srcset=\"https:\/\/economic.karpat.in.ua\/wp-content\/uploads\/2022\/12\/414a9a1d507f4f678a6cee454d6de7eb.jpg 560w, https:\/\/economic.karpat.in.ua\/wp-content\/uploads\/2022\/12\/414a9a1d507f4f678a6cee454d6de7eb-300x188.jpg 300w\" sizes=\"auto, (max-width: 818px) 100vw, 818px\" \/><\/figure>\n<\/div>\n\n\n<p class=\"wp-block-paragraph\">A v\u00e1rtn\u00e1l szigor\u00fabb infl\u00e1ci\u00f3ellenes ki\u00e1ll\u00e1s k\u00f6vetkezt\u00e9ben er\u0151s\u00f6d\u00e9snek indult az eur\u00f3 a doll\u00e1rral szemben, a folyamatot felgyors\u00edtotta, hogy Lagarde stabil \u00e9s gyors kamatemel\u00e9seket \u00edg\u00e9rt, ebb\u0151l a tov\u00e1bbiakban is 50 b\u00e1zispontos emel\u00e9sekre lehet k\u00f6vetkeztetni. \u201eSz\u00f3 sincs fordulatr\u00f3l az EKB monet\u00e1ris politik\u00e1j\u00e1ban\u201d \u2013 hangs\u00falyozta Lagarde.&nbsp;<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/economic.karpat.in.ua\/wp-content\/uploads\/2022\/12\/17f795d487994a13af2b3cf1034b9984.jpg\" alt=\"\" class=\"wp-image-33063\" width=\"833\" height=\"521\" srcset=\"https:\/\/economic.karpat.in.ua\/wp-content\/uploads\/2022\/12\/17f795d487994a13af2b3cf1034b9984.jpg 560w, https:\/\/economic.karpat.in.ua\/wp-content\/uploads\/2022\/12\/17f795d487994a13af2b3cf1034b9984-300x188.jpg 300w\" sizes=\"auto, (max-width: 833px) 100vw, 833px\" \/><figcaption class=\"wp-element-caption\">A t\u00edz\u00e9ves olasz \u00e1llampap\u00edrok hozam\u00e1nak alakul\u00e1sa (sz\u00e1zal\u00e9k)<\/figcaption><\/figure>\n<\/div>\n\n\n<p class=\"wp-block-paragraph\">A tov\u00e1bbi szigor\u00fa kamatemel\u00e9sek hat\u00e1s\u00e1ra emelkedtek az eur\u00f3z\u00f3na tagorsz\u00e1gainak \u00e1llamk\u00f6tv\u00e9nyhozamai, f\u0151leg az olasz hozamok ugrottak meg. A t\u00edz\u00e9ves olasz pap\u00edr hozama a 3,9 sz\u00e1zal\u00e9kos szintekr\u0151l 4,1 f\u00f6l\u00e9 ugrott. A n\u00e9met ir\u00e1nyad\u00f3 t\u00edz\u00e9ves hozam az 1,9-es szintr\u0151l 2 sz\u00e1zal\u00e9k f\u00f6l\u00e9 szaladt.&nbsp;<\/p>\n\n\n\n<p class=\"has-text-align-right wp-block-paragraph\"><strong><a href=\"https:\/\/www.portfolio.hu\/gazdasag\/20221215\/sokkolt-az-ekb-sokkal-magasabbak-lesznek-a-kamatok-a-vartnal-es-nem-is-fognak-csokkenni-585436\" target=\"_blank\" rel=\"noreferrer noopener\">(portfolio.hu)<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Hozta a v\u00e1rt 50 b\u00e1zispontos kamatemel\u00e9st az EKB, Christine Lagarde tov\u00e1bbi jelent\u0151s emel\u00e9seket \u00edg\u00e9rt. A jegybank n\u00f6velte az infl\u00e1ci\u00f3s progn\u00f3zis\u00e1t, m\u00e9g 2025-ben sem cs\u00f6kken a 2 sz\u00e1zal\u00e9kos c\u00e9lra a fogyaszt\u00f3i \u00e1rak n\u00f6veked\u00e9si \u00fcteme.<\/p>\n","protected":false},"author":12,"featured_media":33061,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[41,23,39],"tags":[9358,31368,642],"class_list":["post-33060","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cikkek","category-fotok","category-vilag","tag-christine-lagarde","tag-ekb","tag-inflacio"],"_links":{"self":[{"href":"https:\/\/economic.karpat.in.ua\/index.php?rest_route=\/wp\/v2\/posts\/33060","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/economic.karpat.in.ua\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/economic.karpat.in.ua\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/economic.karpat.in.ua\/index.php?rest_route=\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/economic.karpat.in.ua\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=33060"}],"version-history":[{"count":1,"href":"https:\/\/economic.karpat.in.ua\/index.php?rest_route=\/wp\/v2\/posts\/33060\/revisions"}],"predecessor-version":[{"id":33064,"href":"https:\/\/economic.karpat.in.ua\/index.php?rest_route=\/wp\/v2\/posts\/33060\/revisions\/33064"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/economic.karpat.in.ua\/index.php?rest_route=\/wp\/v2\/media\/33061"}],"wp:attachment":[{"href":"https:\/\/economic.karpat.in.ua\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=33060"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/economic.karpat.in.ua\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=33060"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/economic.karpat.in.ua\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=33060"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}