{"id":108656,"date":"2026-06-14T00:21:15","date_gmt":"2026-06-13T22:21:15","guid":{"rendered":"https:\/\/www.infokuryr.cz\/n\/?p=108656"},"modified":"2026-06-13T11:59:45","modified_gmt":"2026-06-13T09:59:45","slug":"zvyseni-urokovych-sazeb-ecb-proc-by-to-mohlo-byt-pro-eurozonu-nakladne","status":"publish","type":"post","link":"https:\/\/www.infokuryr.cz\/n\/2026\/06\/14\/zvyseni-urokovych-sazeb-ecb-proc-by-to-mohlo-byt-pro-eurozonu-nakladne\/","title":{"rendered":"Zv\u00fd\u0161en\u00ed \u00farokov\u00fdch sazeb ECB: Pro\u010d by to mohlo b\u00fdt pro euroz\u00f3nu n\u00e1kladn\u00e9"},"content":{"rendered":"
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Evropsk\u00e1 centr\u00e1ln\u00ed banka poprv\u00e9 za t\u0159i roky zv\u00fd\u0161ila kl\u00ed\u010dov\u00e9 \u00farokov\u00e9 sazby \u2013 o 0,25 procentn\u00edho bodu. To pravd\u011bpodobn\u011b povede k n\u00e1r\u016fstu n\u00e1klad\u016f na st\u00e1tn\u00ed dluhopisy. Zem\u011b euroz\u00f3ny \u010del\u00ed miliardov\u00fdm dodate\u010dn\u00fdm n\u00e1klad\u016fm na financov\u00e1n\u00ed sv\u00fdch dluhov\u00fdch hem\u017een\u00ed.<\/span><\/strong><\/p>\n

N\u00e1klady ve\u0159ejn\u00fdch rozpo\u010dt\u016f na obsluhu st\u00e1tn\u00edho dluhu v kone\u010dn\u00e9m d\u016fsledku ur\u010duj\u00ed t\u0159i faktory: zaprv\u00e9 samotn\u00e1 v\u00fd\u0161e dluhu, zadruh\u00e9 splatnost dluhopis\u016f nebo \u00fav\u011br\u016f a zat\u0159et\u00ed samoz\u0159ejm\u011b \u00farokov\u00e9 platby. Zem\u011b euroz\u00f3ny nyn\u00ed \u010del\u00ed velk\u00e9mu probl\u00e9mu. Nejen\u017ee jejich hory dluh\u016f exponenci\u00e1ln\u011b rostou v d\u016fsledku prob\u00edhaj\u00edc\u00edch kriz\u00ed, ale Evropsk\u00e1 centr\u00e1ln\u00ed banka (ECB) tak\u00e9 zv\u00fd\u0161ila\u00a0<\/span>kl\u00ed\u010dov\u00e9 \u00farokov\u00e9 sazby<\/span><\/a> o 0,25 procentn\u00edho bodu.<\/span><\/p>\n

ECB nyn\u00ed vypl\u00e1c\u00ed \u00farok z vklad\u016f komer\u010dn\u00edch bank ve v\u00fd\u0161i 2,25 procenta, oproti p\u016fvodn\u00edm 2,00 procent\u016fm. Banky, kter\u00e9 si od ECB p\u016fj\u010duj\u00ed, budou nyn\u00ed platit 2,40 procenta a kr\u00e1tkodob\u00e9 \u00fav\u011bry budou st\u00e1t 2,65 procenta ro\u010dn\u011b. Vzhledem k trvale vysok\u00e9 inflaci zp\u016fsoben\u00e9 \u00edr\u00e1nskou kriz\u00ed se nav\u00edc o\u010dek\u00e1v\u00e1, \u017ee centr\u00e1ln\u00ed bank\u00e9\u0159i letos prosad\u00ed dal\u0161\u00ed dv\u011b zv\u00fd\u0161en\u00ed \u00farokov\u00fdch sazeb o 25 bazick\u00fdch bod\u016f. To tak\u00e9 zv\u00fd\u0161\u00ed z\u00e1t\u011b\u017e pro vl\u00e1dn\u00ed rozpo\u010dty, podniky a jednotlivce, pokud jde o obsluhu dluhu a \u00fav\u011bry.<\/span><\/p>\n

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Probl\u00e9m s m\u011bnovou politikou ECB v\u0161ak spo\u010d\u00edv\u00e1 v tom, \u017ee m\u00edra inflace, kterou se sna\u017e\u00ed kontrolovat, nen\u00ed zp\u016fsobena m\u011bnov\u00fdmi faktory (tj. p\u0159\u00edli\u0161 velk\u00fdm mno\u017estv\u00edm pen\u011bz v ob\u011bhu nebo p\u0159eh\u0159\u00edv\u00e1n\u00edm ekonomiky), ale sp\u00ed\u0161e nab\u00eddkov\u00fdm \u0161okem. Zat\u00edmco ekonomika st\u00e9n\u00e1 pod vysok\u00fdmi cenami energi\u00ed a n\u011bkter\u00e9 zem\u011b se sna\u017e\u00ed probl\u00e9m zm\u00edrnit dal\u0161\u00edm zadlu\u017eov\u00e1n\u00edm, Evropsk\u00e1 centr\u00e1ln\u00ed banka pot\u0159ebn\u00e9 pen\u00edze prodra\u017euje \u2013 a t\u00edm ekonomiku d\u00e1le dus\u00ed. Z\u00e1rove\u0148 vy\u0161\u0161\u00ed \u00farokov\u00e9 sazby z \u00fav\u011br\u016f d\u00e1le sni\u017euj\u00ed kupn\u00ed s\u00edlu mnoha lid\u00ed. To vede k ni\u017e\u0161\u00edm da\u0148ov\u00fdm p\u0159\u00edjm\u016fm, zat\u00edmco se zvy\u0161uj\u00ed v\u00fddaje. Rozhodnut\u00ed frankfurtsk\u00fdch centr\u00e1ln\u00edch bank\u00e9\u0159\u016f by se dalo dokonce pova\u017eovat za medv\u011bd\u00ed slu\u017ebu.<\/span><\/p>\n

Zat\u00edmco kl\u00ed\u010dov\u00e9 \u00farokov\u00e9 sazby ve Spojen\u00fdch st\u00e1tech a Velk\u00e9 Brit\u00e1nii jsou ve v\u00fd\u0161i 3,75 procenta v\u00fdrazn\u011b vy\u0161\u0161\u00ed ne\u017e v euroz\u00f3n\u011b, samotn\u00fdm \u010dlensk\u00fdm st\u00e1t\u016fm EU to nep\u0159in\u00e1\u0161\u00ed velkou \u00fat\u011bchu. Ve \u0160v\u00fdcarsku je \u00farokov\u00e1 sazba 0,00 procenta. Ji\u017e tak slab\u00fd hospod\u00e1\u0159sk\u00fd r\u016fst v euroz\u00f3n\u011b pravd\u011bpodobn\u011b v d\u016fsledku tohoto sn\u00ed\u017een\u00ed \u00farokov\u00fdch sazeb d\u00e1le utrp\u00ed \u2013 a mohl by dokonce uvrhnout N\u011bmecko do recese.<\/span><\/p>\n

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Evropsk\u00e1 centr\u00e1ln\u00ed banka poprv\u00e9 za t\u0159i roky zv\u00fd\u0161ila kl\u00ed\u010dov\u00e9 \u00farokov\u00e9 sazby \u2013 o 0,25 procentn\u00edho…<\/p>\n","protected":false},"author":2,"featured_media":108657,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[7],"tags":[2616,1503,11108,1880],"_links":{"self":[{"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/posts\/108656"}],"collection":[{"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/comments?post=108656"}],"version-history":[{"count":0,"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/posts\/108656\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/media\/108657"}],"wp:attachment":[{"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/media?parent=108656"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/categories?post=108656"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/tags?post=108656"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}