Eiropas Centr\u0101l\u0101s bankas nemain\u012bg\u0101 politika: stabilit\u0101te vai gaid\u012b\u0161ana?<\/p>\n
Eiropas Centr\u0101l\u0101 banka (ECB), turpinot savu strat\u0113\u0123isko ce\u013cu, ceturtdien, 2025. gada 18. decembr\u012b, pie\u0146\u0113ma l\u0113mumu saglab\u0101t procentu likmes nemain\u012bgas, apliecinot savu ap\u0146em\u0161anos nodro\u0161in\u0101t infl\u0101cijas stabiliz\u0101ciju vid\u0113j\u0101 termi\u0146\u0101 pie 2% m\u0113r\u0137a. K\u0101 inform\u0113 Latvijas Sabiedriskie Mediji, \u0161is ir jau ceturtais gad\u012bjums p\u0113c k\u0101rtas, kad banka nav veikusi izmai\u0146as sav\u0101 monet\u0101r\u0101s politikas instrumentu komplekt\u0101, turot noguld\u012bjumu iesp\u0113jas uz nakti likmi 2% apm\u0113r\u0101, galveno refinans\u0113\u0161anas oper\u0101ciju likmi 2,15% apm\u0113r\u0101 un aizdevumu iesp\u0113jas uz nakti likmi 2,4% apm\u0113r\u0101. \u0160\u012bs likmes ir nemain\u012bgas kop\u0161 \u0161\u012b gada 11. j\u016bnija.<\/p>\n
Datatika k\u0101 pamatprincips: ECB l\u0113mumu dzin\u0113jsp\u0113ks<\/p>\n
ECB Padomes pieeja turpm\u0101kajos l\u0113mumos joproj\u0101m balst\u012bsies uz r\u016bp\u012bgu datu anal\u012bzi un katras san\u0101ksmes ietvaros veikto tautsaimniec\u012bbas un finan\u0161u r\u0101d\u012bt\u0101ju izv\u0113rt\u0113jumu. \u0160\u0101da pragmatiska nost\u0101ja \u013cauj bankai rea\u0123\u0113t uz main\u012bgo ekonomisko vidi, vienlaikus izvairoties no priek\u0161laic\u012bgas politikas virz\u012bbas noteik\u0161anas. L\u0113mumi par procentu likm\u0113m tiks pie\u0146emti, \u0146emot v\u0113r\u0101 infl\u0101cijas perspekt\u012bvas un potenci\u0101los riskus, k\u0101 ar\u012b pamatinfl\u0101cijas dinamiku un monet\u0101r\u0101s politikas transmisijas sp\u0113ku. \u0160\u012b pieeja ir k\u0101 r\u016bp\u012bgi kalibr\u0113ta medic\u012bnas proced\u016bra \u2013 nepiecie\u0161ams prec\u012bzi nov\u0113rt\u0113t st\u0101vokli pirms jebkuras \u0101rstnieciskas darb\u012bbas uzs\u0101k\u0161anas, lai nodro\u0161in\u0101tu vislab\u0101kos rezult\u0101tus. Neviens speci\u0101lists neatkl\u0101j savus n\u0101kotnes pl\u0101nus, ja vien nav piln\u012bgi dro\u0161s par to efektivit\u0101ti main\u012bg\u0101 vid\u0113.<\/p>\n
Infl\u0101cijas prognozes un ekonomikas att\u012bst\u012bbas scen\u0101riji<\/p>\n
Speci\u0101listi prognoz\u0113, ka kop\u0113j\u0101 infl\u0101cija eirozon\u0101 2025. gad\u0101 vid\u0113ji sasniegs 2,1%, 2026. gad\u0101 \u2013 1,9%, 2027. gad\u0101 \u2013 1,8%, bet 2028. gad\u0101 \u2013 2%. Ta\u010du, apl\u016bkojot infl\u0101ciju, ne\u0146emot v\u0113r\u0101 ener\u0123ijas un p\u0101rtikas cenas, prognozes liecina par 2,4% 2025. gad\u0101, 2,2% 2026. gad\u0101, 1,9% 2027. gad\u0101 un 2% 2028. gad\u0101. Interesanti, ka infl\u0101cijas perspekt\u012bva 2026. gadam ir nedaudz paaugstin\u0101ta, galvenok\u0101rt prognoz\u0113jot l\u0113n\u0101ku pakalpojumu cenu samazin\u0101\u0161an\u0101s tempu. Tom\u0113r, neraugoties uz \u0161iem infl\u0101cijas aspektiem, tiek sagaid\u012bts, ka eirozonas ekonomikas izaugsme b\u016bs sp\u0113c\u012bg\u0101ka nek\u0101 iepriek\u0161 prognoz\u0113ts. Izaugsmes temps 2025. gad\u0101 paaugstin\u0101ts l\u012bdz 1,4%, 2026. gad\u0101 \u2013 l\u012bdz 1,2% un 2027. gad\u0101 \u2013 l\u012bdz 1,4%. \u0160\u012b progno\u017eu izmai\u0146a galvenok\u0101rt saist\u012bta ar iek\u0161zemes piepras\u012bjuma pieaugumu, kas liecina par tautsaimniec\u012bbas notur\u012bbu un sp\u0113ju piel\u0101goties glob\u0101laj\u0101m tendenc\u0113m. Ir j\u016btams optimismu raiso\u0161s v\u0113j\u0161, kas uz\u0146\u0113mumiem un iedz\u012bvot\u0101jiem dod cer\u012bbu uz stabil\u0101ku n\u0101kotni.<\/p>\n
ECB \u2013 stabilit\u0101tes enkurs main\u012bgaj\u0101 pasaul\u0113<\/p>\n
\u0160is nemain\u012bgo procentu likmju periods ir z\u012bm\u012bgs ar ECB stingro poz\u012bciju un gatav\u012bbu sagaid\u012bt t\u0101l\u0101ku datu pl\u016bsmu pirms jebk\u0101d\u0101m kardin\u0101l\u0101m izmai\u0146\u0101m. T\u0101pat k\u0101 r\u016bp\u012bgs ku\u0123inieks, kas turas pie dro\u0161a enkura, sagaidot lab\u0101kus laikapst\u0101k\u013cus, ECB nodro\u0161ina stabilit\u0101ti, kam\u0113r ekonomisk\u0101 aina att\u012bst\u0101s. Lai gan \u0161odien nav notiku\u0161as nek\u0101das izmai\u0146as procentu likm\u0113s, bankas prezidentes Krist\u012bnes Lagardas teiktais preses konferenc\u0113 apliecina, ka nek\u0101das diskusijas par likmju paaugstin\u0101\u0161anu vai pazemin\u0101\u0161anu \u0161obr\u012bd nav notiku\u0161as. ECB stingri pieturas pie sava galven\u0101 m\u0113r\u0137a \u2013 cenu stabilit\u0101tes nodro\u0161in\u0101\u0161anas, kas ir pamats ilgtsp\u0113j\u012bgai ekonomikas izaugsmei vis\u0101 eirozon\u0101. \u0160is mier\u012bgais periods \u013cauj gan tirgiem, gan iedz\u012bvot\u0101jiem lab\u0101k iejusties eso\u0161aj\u0101 situ\u0101cijas, vienlaikus dodot ECB iesp\u0113ju r\u016bp\u012bgi izv\u0113rt\u0113t n\u0101kamos so\u013cus.<\/p>\n","protected":false},"excerpt":{"rendered":"Eiropas Centr\u0101l\u0101s bankas nemain\u012bg\u0101 politika: stabilit\u0101te vai gaid\u012b\u0161ana? Eiropas Centr\u0101l\u0101 banka (ECB), turpinot savu strat\u0113\u0123isko ce\u013cu, ceturtdien, 2025.…\n","protected":false},"author":2,"featured_media":79424,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16],"tags":[77,76,548,10200,552,550,35,39,38,36,37,34,40,549],"class_list":{"0":"post-79423","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-bizness","8":"tag-bizness","9":"tag-business","10":"tag-ecb","11":"tag-eiropas-centrala-banka","12":"tag-eirozona","13":"tag-inflacija","14":"tag-latvia","15":"tag-latvian","16":"tag-latviesu","17":"tag-latviesu-valoda","18":"tag-latviesuvaloda","19":"tag-latvija","20":"tag-lv","21":"tag-procentu-likmes"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@lv\/115743232089635748","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/lv\/wp-json\/wp\/v2\/posts\/79423","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/lv\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/lv\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/lv\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/lv\/wp-json\/wp\/v2\/comments?post=79423"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/lv\/wp-json\/wp\/v2\/posts\/79423\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/lv\/wp-json\/wp\/v2\/media\/79424"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/lv\/wp-json\/wp\/v2\/media?parent=79423"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/lv\/wp-json\/wp\/v2\/categories?post=79423"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/lv\/wp-json\/wp\/v2\/tags?post=79423"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}