{"id":3169,"date":"2025-07-21T16:31:01","date_gmt":"2025-07-21T16:31:01","guid":{"rendered":"https:\/\/blog.spbinvest.hu\/?p=3169"},"modified":"2025-07-21T16:31:01","modified_gmt":"2025-07-21T16:31:01","slug":"video-politika-piac-inflacio-miert-erdemes-most-japanra-figyelni","status":"publish","type":"post","link":"https:\/\/blog.spbinvest.hu\/?p=3169","title":{"rendered":"VIDE\u00d3! Politika, piac, infl\u00e1ci\u00f3: Mi\u00e9rt \u00e9rdemes most Jap\u00e1nra figyelni?"},"content":{"rendered":"<div>A 2025-\u00f6s jap\u00e1n v\u00e1laszt\u00e1sok rendk\u00edv\u00fcli fesz\u00fclts\u00e9g k\u00f6zepette zajlottak: az infl\u00e1ci\u00f3s bizonytalans\u00e1g, a gyenge jen \u00e9s az emelked\u0151 \u00e1llampap\u00edrhozamok megrend\u00edtett\u00e9k a lakoss\u00e1g \u00e9s a befektet\u0151k bizalm\u00e1t. A politikai instabilit\u00e1s tov\u00e1bbi nyom\u00e1st gyakorolhat a k\u00f6tv\u00e9nypiacokra, k\u00fcl\u00f6n\u00f6sen, ha a jegybank f\u00fcggetlens\u00e9ge is napirendre ker\u00fcl. A piacok most nemcsak gazdas\u00e1gi, hanem politikai kock\u00e1zatokat is be\u00e1raznak.<\/div>\n<div>\n<p>A jap\u00e1n k\u00f6zponti bank visszavonul\u00f3ban van a piacr\u00f3l, a jen gyenge, a hazai kereslet pedig nem tudja stabiliz\u00e1lni a helyzetet. A glob\u00e1lis hat\u00e1s sem marad el, ha a jap\u00e1n t\u0151ke haza\u00e1ramlik, annak k\u00f6vetkezm\u00e9nyei az amerikai \u00e9s eur\u00f3pai k\u00f6tv\u00e9nypiacokon is \u00e9rz\u0151dnek.<\/p>\n<p>Jap\u00e1n infl\u00e1ci\u00f3ja nem a klasszikus keresletvez\u00e9relt modell szerint alakul. Ehelyett a gyenge deviza, a k\u00edn\u00e1lati probl\u00e9m\u00e1k, p\u00e9ld\u00e1ul a mez\u0151gazdas\u00e1gi munkaer\u0151hi\u00e1ny, \u00e9s a bels\u0151 piacv\u00e9delmi torzul\u00e1sok emelik az \u00e1rakat. Ez a k\u00fcl\u00f6n\u00f6s stagfl\u00e1ci\u00f3, stagn\u00e1l\u00f3 n\u00f6veked\u00e9s mellett tart\u00f3s \u00e1remelked\u00e9s, k\u00fcl\u00f6n\u00f6sen vesz\u00e9lyes a k\u00f6tv\u00e9nypiacok sz\u00e1m\u00e1ra. A k\u00f6lts\u00e9gek be\u00e9p\u00fclnek az \u00e1rakba, de val\u00f3di gazdas\u00e1gi dinamika n\u00e9lk\u00fcl. A jap\u00e1n rizs \u00e1ra p\u00e9ld\u00e1ul egy \u00e9v alatt megdupl\u00e1z\u00f3dott, ami nemcsak gazdas\u00e1gi, de politikai v\u00e1ls\u00e1gt\u00fcnet is lett.<\/p>\n<p>A jap\u00e1n k\u00f6tv\u00e9nypiac mozg\u00e1sa kulcsfontoss\u00e1g\u00fa a glob\u00e1lis p\u00e9nz\u00fcgyi rendszer stabilit\u00e1sa szempontj\u00e1b\u00f3l. Ha a vil\u00e1g egyik legnagyobb \u00e1llampap\u00edrpiaca meginog, annak hat\u00e1sa messze t\u00falmutat a szigetorsz\u00e1g hat\u00e1rain. A befektet\u0151k ez\u00e9rt egyre ink\u00e1bb r\u00f6videbb lej\u00e1rat\u00fa, j\u00f3 min\u0151s\u00e9g\u0171 eszk\u00f6z\u00f6ket keresnek, mik\u00f6zben a hossz\u00fa t\u00e1v\u00fa \u00e1llamk\u00f6tv\u00e9nyek elad\u00e1sai gyorsulnak. A piac m\u00e1r nem az infl\u00e1ci\u00f3t, hanem a bizalomveszt\u00e9st \u00e1razza, ez pedig sokkal m\u00e9lyebb \u00e9s tart\u00f3sabb kock\u00e1zat.<\/p>\n<p>A m\u0171sor vend\u00e9ge: Kosovics L\u00e1szl\u00f3, az SPB Befektet\u00e9si Zrt. portfoli\u00f3kezel\u00e9si \u00fczlet\u00e1g vezet\u0151je.<\/p>\n<\/div>\n<p>\u2014<\/p>\n<p><iframe loading=\"lazy\" title=\"YouTube video player\" src=\"https:\/\/www.youtube.com\/embed\/as6q4VRjbfI?si=nEImClnUCxLw1vT3\" width=\"560\" height=\"315\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n<p>\u2014<\/p>\n<p>Jelen vide\u00f3 \u00e9s\/vagy blogbejegyz\u00e9s kiz\u00e1r\u00f3lag t\u00e1j\u00e9koztat\u00f3 jelleg\u0171, \u00e9s nem tekinthet\u0151 sem aj\u00e1nlatt\u00e9telnek, sem aj\u00e1nlatt\u00e9teli\u00a0felh\u00edv\u00e1snak. Nem min\u0151s\u00fcl befektet\u00e9si, jogi, p\u00e9nz\u00fcgyi vagy ad\u00f3z\u00e1si tan\u00e1csad\u00e1snak, illetve r\u00e9szletes p\u00e9nz\u00fcgyi vagy befektet\u00e9si elemz\u00e9snek sem. A blog \u00e9s\/vagy vide\u00f3 c\u00e9lja az ismeretterjeszt\u00e9s \u00e9s az eduk\u00e1ci\u00f3, egy \u00e9rdekl\u0151d\u0151 k\u00f6z\u00f6ss\u00e9g \u00e9p\u00edt\u00e9s\u00e9nek sz\u00e1nd\u00e9k\u00e1val,\u00a0a benne szerepl\u0151 tartalmak marketingk\u00f6zlem\u00e9nynek is min\u0151s\u00fclhetnek. A bejegyz\u00e9sben szerepl\u0151 inform\u00e1ci\u00f3k nem tekinthet\u0151k teljes k\u00f6r\u0171nek. B\u0151vebb inform\u00e1ci\u00f3k\u00e9rt k\u00e9rj\u00fck, l\u00e9pjen vel\u00fcnk kapcsolatba:\u00a0<a href=\"mailto:info@spbinvest.hu\" target=\"_blank\" rel=\"noopener\">info@spbinvest.hu<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A 2025-\u00f6s jap\u00e1n v\u00e1laszt\u00e1sok rendk\u00edv\u00fcli fesz\u00fclts\u00e9g k\u00f6zepette zajlottak: az infl\u00e1ci\u00f3s bizonytalans\u00e1g, a gyenge jen \u00e9s az emelked\u0151 \u00e1llampap\u00edrhozamok megrend\u00edtett\u00e9k a lakoss\u00e1g \u00e9s a befektet\u0151k bizalm\u00e1t. A politikai instabilit\u00e1s tov\u00e1bbi nyom\u00e1st gyakorolhat a k\u00f6tv\u00e9nypiacokra, k\u00fcl\u00f6n\u00f6sen, ha a jegybank f\u00fcggetlens\u00e9ge is napirendre ker\u00fcl. A piacok most nemcsak gazdas\u00e1gi, hanem politikai kock\u00e1zatokat is be\u00e1raznak. A jap\u00e1n k\u00f6zponti bank&#8230;<\/p>\n","protected":false},"author":1,"featured_media":3170,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[52],"tags":[],"class_list":["post-3169","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-portfolioblogger"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>VIDE\u00d3! Politika, piac, infl\u00e1ci\u00f3: Mi\u00e9rt \u00e9rdemes most Jap\u00e1nra figyelni? - SPB Blog<\/title>\n<meta name=\"description\" content=\"A 2025-\u00f6s jap\u00e1n v\u00e1laszt\u00e1sok rendk\u00edv\u00fcli fesz\u00fclts\u00e9g k\u00f6zepette zajlottak: az infl\u00e1ci\u00f3s bizonytalans\u00e1g, a gyenge jen \u00e9s az emelked\u0151 \u00e1llampap\u00edrhozamok megrend\u00edtett\u00e9k a lakoss\u00e1g \u00e9s a befektet\u0151k bizalm\u00e1t. 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Politika, piac, infl\u00e1ci\u00f3: Mi\u00e9rt \u00e9rdemes most Jap\u00e1nra figyelni?","og_description":"A 2025-\u00f6s jap\u00e1n v\u00e1laszt\u00e1sok rendk\u00edv\u00fcli fesz\u00fclts\u00e9g k\u00f6zepette zajlottak: az infl\u00e1ci\u00f3s bizonytalans\u00e1g, a gyenge jen \u00e9s az emelked\u0151 \u00e1llampap\u00edrhozamok megrend\u00edtett\u00e9k a lakoss\u00e1g \u00e9s a befektet\u0151k bizalm\u00e1t. A politikai instabilit\u00e1s tov\u00e1bbi nyom\u00e1st gyakorolhat a k\u00f6tv\u00e9nypiacokra, k\u00fcl\u00f6n\u00f6sen, ha a jegybank f\u00fcggetlens\u00e9ge is napirendre ker\u00fcl. 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A politikai instabilit\u00e1s tov\u00e1bbi nyom\u00e1st gyakorolhat a k\u00f6tv\u00e9nypiacokra, k\u00fcl\u00f6n\u00f6sen, ha a jegybank f\u00fcggetlens\u00e9ge is napirendre ker\u00fcl. A piacok most nemcsak gazdas\u00e1gi, hanem politikai kock\u00e1zatokat is be\u00e1raznak.","breadcrumb":{"@id":"https:\/\/blog.spbinvest.hu\/?p=3169#breadcrumb"},"inLanguage":"hu","potentialAction":[{"@type":"ReadAction","target":["https:\/\/blog.spbinvest.hu\/?p=3169"]}]},{"@type":"ImageObject","inLanguage":"hu","@id":"https:\/\/blog.spbinvest.hu\/?p=3169#primaryimage","url":"https:\/\/blog.spbinvest.hu\/wp-content\/uploads\/2025\/07\/xx.png","contentUrl":"https:\/\/blog.spbinvest.hu\/wp-content\/uploads\/2025\/07\/xx.png","width":1911,"height":928},{"@type":"BreadcrumbList","@id":"https:\/\/blog.spbinvest.hu\/?p=3169#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Kezd\u0151lap","item":"https:\/\/blog.spbinvest.hu\/"},{"@type":"ListItem","position":2,"name":"VIDE\u00d3! 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