{"id":8682,"date":"2025-11-03T09:09:31","date_gmt":"2025-11-03T09:09:31","guid":{"rendered":"https:\/\/www.mdwcc.com\/?p=8682"},"modified":"2025-11-03T09:11:56","modified_gmt":"2025-11-03T09:11:56","slug":"a-rising-euro-a-depreciating-yen-and-cooling-expectations-for-interest-rate-cuts-divergent-policies-among-the-three-major-central-banks-are-destabilizing-global-markets","status":"publish","type":"post","link":"https:\/\/www.mdwcc.com\/ko\/a-rising-euro-a-depreciating-yen-and-cooling-expectations-for-interest-rate-cuts-divergent-policies-among-the-three-major-central-banks-are-destabilizing-global-markets\/","title":{"rendered":"\uc720\ub85c\ud654 \uc0c1\uc2b9, \uc5d4\ud654 \uc57d\uc138, \uae08\ub9ac \uc778\ud558\uc5d0 \ub300\ud55c \uae30\ub300 \ub0c9\uac01: 3\ub300 \uc911\uc559\uc740\ud589\uc758 \uc11c\ub85c \ub2e4\ub978 \uc815\ucc45\uc774 \uae00\ub85c\ubc8c \uc2dc\uc7a5\uc744 \ubd88\uc548\uc815\ud558\uac8c \ub9cc\ub4e4\uace0 \uc788\uc2b5\ub2c8\ub2e4."},"content":{"rendered":"

\ubd88\uade0\ub4f1\ud55c \uc138\uacc4 \uacbd\uc81c \ud68c\ubcf5\uacfc \uc5bd\ud78c \ub300\uc678 \ubd88\ud655\uc2e4\uc131 \uc18d\uc5d0\uc11c \uc720\ub7fd\uc911\uc559\uc740\ud589, \uc77c\ubcf8\uc740\ud589, \uc5f0\uc900\uc758 \ucd5c\uadfc \ud1b5\ud654\uc815\ucc45 \uc6c0\uc9c1\uc784\uc740 \uc120\uc9c4\uad6d\uc758 \uacbd\uc81c \ud68c\ubcf5\ub825\uacfc \uc815\ucc45 \ub51c\ub808\ub9c8\ub97c \ubcf4\uc5ec\uc8fc\ub294 \ud575\uc2ec \uc9c0\ud45c\uc785\ub2c8\ub2e4. 3\uac1c \uc911\uc559\uc740\ud589\uc758 \ubc1c\uc804 \ub2e8\uacc4\ub294 \uc11c\ub85c \ub2e4\ub974\uc9c0\ub9cc(\uc720\ub85c\uc874\uc740 \ucd08\uae30 \uc131\uc7a5 \ubaa8\uba58\ud140\uc744 \ubcf4\uc774\uace0 \uc788\uace0, \uc77c\ubcf8\uc740 \uc644\ub9cc\ud55c \ud68c\ubcf5\uc138\ub97c \ubcf4\uc774\uace0 \uc788\uc73c\uba70, \ubbf8\uad6d\uc740 'K\uc790\ud615' \ubc1c\uc0b0\uc744 \ubcf4\uc774\uace0 \uc788\uc2b5\ub2c8\ub2e4.) \uadf8\ub4e4\uc740 \ubaa8\ub450 \uae08\ub9ac \uc870\uc815\uc744 \uc778\ud50c\ub808\uc774\uc158, \uc131\uc7a5, \uc678\ubd80 \ub9ac\uc2a4\ud06c\uc758 \uade0\ud615\uc744 \ub9de\ucd94\ub294 \ud575\uc2ec \ub3c4\uad6c\ub85c \uc0ac\uc6a9\ud569\ub2c8\ub2e4. \uadf8\ub4e4\uc758 \uacb0\uc815\uc740 \uadf8\ub4e4 \uc790\uc2e0\uc758 \uae30\ubcf8 \uc6d0\uce59\uc744 \ubc18\uc601\ud558\uba70 \ud658\uc728\uacfc \uc8fc\uc2dd \uc2dc\uc7a5\uc744 \ud1b5\ud574 \uae00\ub85c\ubc8c \uc5f0\uacb0\uc744 \ud615\uc131\ud569\ub2c8\ub2e4. \ub0b4\ubd80 \uc758\uacac \ucc28\uc774\ub294 \ud5a5\ud6c4 \uc815\ucc45 \ubd88\ud655\uc2e4\uc131\uc744 \uc608\uace0\ud558\uae30\ub3c4 \ud569\ub2c8\ub2e4.<\/p>\n

<\/a>\ud1b5\ud654 \uc815\ucc45 \uc120\ud0dd: \uc548\uc815\uc131\uc744 \uc8fc\uc694 \ubaa9\ud45c\ub85c \uc720\uc9c0\ud558\uace0 \ud5a5\ud6c4 \uacbd\ub85c\uc5d0 \ub300\ud55c \ub2e4\uc591\ud55c \uae30\ub300\ub97c \uac16\uace0 \uc788\uc2b5\ub2c8\ub2e4.<\/strong><\/p>\n

\ucd5c\uadfc 3\uac1c \uc911\uc559\uc740\ud589 \ubaa8\ub450 \"\ud604\uc7ac \uae08\ub9ac \uc218\uc900 \uc720\uc9c0\"\ub97c \uc8fc\uc694 \uc815\ucc45 \uacb0\uc815\uc73c\ub85c \ub0b4\ub838\uc9c0\ub9cc, \uae30\ubcf8 \uc815\ucc45 \uc758\ub3c4\uc640 \ud5a5\ud6c4 \uacbd\ub85c \uc608\uc0c1\uc740 \uacbd\uc81c \ub2e8\uacc4\uac00 \ub2e4\ub974\uae30 \ub54c\ubb38\uc5d0 \ud06c\uac8c \ub2e4\ub974\uba70, \uc774\ub294 \ubcf8\uc9c8\uc801\uc73c\ub85c \uc790\uccb4 \ud380\ub354\uba58\ud138\uc5d0 \ub300\ud55c \uc815\ud655\ud55c \uc801\uc751\uc744 \ubc18\uc601\ud569\ub2c8\ub2e4. \uc720\ub7fd\uc911\uc559\uc740\ud589(ECB)\uc740 \u201c\uc815\ucc45\uc774 \uc88b\uc740 \uc704\uce58\uc5d0 \uc788\ub2e4\u201d\ub294 \ub77c\uac00\ub974\ub4dc \ucd1d\uc7ac\uc758 \ubc1c\uc5b8\uc5d0 \ub9de\ucdb0 3\ucc28\ub840 \uc5f0\uc18d \uae30\uc900\uae08\ub9ac\ub97c 2%\ub85c \uc720\uc9c0\ud588\ub2e4. \uc774\ub97c \ub4b7\ubc1b\uce68\ud558\ub294 \ub17c\ub9ac\uc5d0\ub294 3\ubd84\uae30 GDP \uc131\uc7a5\ub960\uc774 \uae30\ub300\uce58\ub97c \uc6c3\ub3c4\ub294 0.2%, \uc778\ud50c\ub808\uc774\uc158\uc774 \ubaa9\ud45c\uce58\uc778 2%\uc5d0 \uadfc\uc811\ud55c \ub4f1 \uae0d\uc815\uc801\uc778 \uc2e0\ud638\uac00 \ud3ec\ud568\ub418\uc5b4 \uc788\uc2b5\ub2c8\ub2e4. ECB\ub294 \uc644\ud654\ub97c \uc2dc\uc0ac\ud558\uc9c0 \uc54a\uc558\uc73c\uba70 \uc870\uc815\uc744 \ud5c8\uc6a9\ud558\uae30 \uc704\ud574 \uacbd\uc81c \uc608\uce21 \uae30\uac04\uc744 2028\ub144\uae4c\uc9c0 \uc5f0\uc7a5\ud588\uc2b5\ub2c8\ub2e4. \uc77c\ubcf8\uc740\ud589(BOJ)\uc774 6\ucc28\ub840 \uc5f0\uc18d \uae08\ub9ac\ub97c 0.5%\ub85c \uc720\uc9c0\ud588\ub2e4. 7-2 \ud22c\ud45c\ub294 \uc778\ud50c\ub808\uc774\uc158 \uc6b0\ub824\ub97c \ubd80\uac01\uc2dc\ucf30\uace0, \uacb0\uc815\uc740 \"\uc644\ub9cc\ud55c \ud68c\ubcf5\"\uacfc \uc218\ucd9c \ubd80\uc9c4\uacfc \uac19\uc740 \uc704\ud5d8\uc758 \uade0\ud615\uc744 \ub9de\ucd94\uace0 \ud5a5\ud6c4 \uc870\uc815\uc744 \uc704\ud55c \ucda9\ubd84\ud55c \uc5ec\uc9c0\ub97c \ub0a8\uae30\uae30 \uc704\ud574 \"\uc870\uc2ec\uc2a4\ub7fd\uac8c \uc218\uc6a9\uc801\uc778\" \uc785\uc7a5\uc744 \ucc44\ud0dd\ud588\uc2b5\ub2c8\ub2e4.<\/p>\n

\"\uc0ac\uc9c4<\/p>\n

\uc720\ub7fd\uc911\uc559\uc740\ud589\uc774\ub098 \uc77c\ubcf8\uc740\ud589\uacfc \ub2ec\ub9ac \uc5f0\uc900\uc758 \uc815\ucc45 \uc131\uba85\uc740 \uae08\ub9ac \uc778\ud558\uc5d0 \ub300\ud55c \uc2dc\uc7a5 \uae30\ub300\ub97c \ub0ae\ucd94\ub294 \ub370 \ub354 \ucd08\uc810\uc744 \ub9de\ucdc4\uc2b5\ub2c8\ub2e4. \ud30c\uc6d4 \uc758\uc7a5\uc740 \uc5f0\ubc29\uae30\uae08 \uae08\ub9ac\ub97c \ub204\uc801 150bp \uc778\ud558\ud55c \ud6c4 12\uc6d4\uc758 \ub610 \ub2e4\ub978 \uae08\ub9ac \uc778\ud558\uac00 \"\uc644\uc804\ud788 \uc644\ub8cc\ub41c \uac70\ub798\uc640\ub294 \uac70\ub9ac\uac00 \uba40\ub2e4\"\ub294 \uc810\uc744 \ubd84\uba85\ud788 \ud588\uc73c\uba70 \uae08\ub9ac \uc778\ud558\uac00 \ub178\ub3d9 \uc2dc\uc7a5\uc5d0 \ubbf8\uce58\ub294 \uc601\ud5a5\uc740 \uc81c\ud55c\uc801\uc77c \uac83\uc774\ub77c\uace0 \uc554\uc2dc\ud588\uc2b5\ub2c8\ub2e4. \ud575\uc2ec \uc6d0\uc778\uc740 \ubbf8\uad6d \uacbd\uc81c\uc758 \ubcf5\uc7a1\uc131\uc5d0 \uc788\ub2e4. \uc815\ucc45\uc785\uc548\uc790\ub4e4 \uc0ac\uc774\uc758 \uc2ec\uac01\ud55c \ub0b4\ubd80 \ubd84\uc5f4, \uc815\ubd80 \ud3d0\uc1c4\ub85c \uc778\ud55c \ub370\uc774\ud130 \ubd80\uc871, \uc9c0\uc18d\ub418\ub294 \ub192\uc740 \uc778\ud50c\ub808\uc774\uc158, \uc218\uc694 \ubd80\uc871\uc774 \uc544\ub2cc \uacf5\uae09 \uc704\ucd95\uc73c\ub85c \uc778\ud55c \ub178\ub3d9 \uc2dc\uc7a5 \ub454\ud654 \ub4f1\uc774\ub2e4. \uc815\ucc45 \ub3c4\uad6c\uc758 \ud55c\uacc4\uc5d0 \ub300\ud55c \uc774\ub7ec\ud55c \ubc18\uc131\uc740 \uc2dc\uc7a5\uc758 '\uc9c0\uc18d\uc801\uc778 \uae08\ub9ac \uc778\ud558' \uad00\uc131\uc744 \uae68\ub728\ub838\uc2b5\ub2c8\ub2e4.<\/p>\n

<\/a>\uc815\ucc45\uc758 \uacf5\ud1b5 \ub17c\ub9ac: \uc778\ud50c\ub808\uc774\uc158, \uc131\uc7a5, \uc678\ubd80 \uc704\ud5d8\uc758 \uc0bc\uc911 \uc81c\uc57d.<\/strong><\/p>\n

\uc138 \uc911\uc559\uc740\ud589\uc758 \uc11c\ub85c \ub2e4\ub978 \uacbd\uc81c\uc801 \ubc30\uacbd\uc5d0\ub3c4 \ubd88\uad6c\ud558\uace0 \uc774\ub4e4\uc758 \uc758\uc0ac\uacb0\uc815 \ud504\ub85c\uc138\uc2a4\ub294 \ubaa8\ub450 \"\uc778\ud50c\ub808\uc774\uc158 \ubaa9\ud45c \uace0\uc815\", \"\uacbd\uc81c \uc131\uc7a5 \ud0c4\ub825\uc131\", \"\uc678\ubd80 \uc704\ud5d8 \uc800\ud56d\"\uc774\ub77c\ub294 \uc138 \uac00\uc9c0 \ud575\uc2ec \ucc28\uc6d0\uc744 \uc911\uc2ec\uc73c\ub85c \uc9c4\ud589\ub418\uba70, \uc774\ub294 \ud604\uc7ac \uc120\uc9c4\uad6d \uc911\uc559\uc740\ud589\uc774 \uc9c1\uba74\ud55c \uacf5\ud1b5 \uacfc\uc81c\ub97c \uac15\uc870\ud569\ub2c8\ub2e4.<\/p>\n

<\/a>\uc778\ud50c\ub808\uc774\uc158 \ubaa9\ud45c: \uac00\uae5d\uc9c0\ub9cc \uc548\uc815\uc801\uc774\uc9c0\ub294 \uc54a\uc73c\uba70 \ubd88\ud655\uc2e4\uc131\uc774 \ud575\uc2ec\uc785\ub2c8\ub2e4.<\/strong><\/p>\n

\uc138 \uc911\uc559\uc740\ud589 \ubaa8\ub450 \uc57d 2%\uc758 \uc778\ud50c\ub808\uc774\uc158 \ubaa9\ud45c\ub97c \ud575\uc2ec \uc575\ucee4\ub85c \uc0ac\uc6a9\ud558\uace0 \uc788\uc9c0\ub9cc \ud604\uc7ac \uc778\ud50c\ub808\uc774\uc158\uc740 \"\ubaa9\ud45c\uc5d0 \uac00\uae5d\uc9c0\ub9cc \ubd88\uc548\uc815\ud55c\" \ucd94\uc138\ub97c \ubcf4\uc774\uace0 \uc788\uc2b5\ub2c8\ub2e4. ECB\ub294 \uc778\ud50c\ub808\uc774\uc158\uc774 \ubaa9\ud45c\uc5d0 \uac00\uae5d\ub2e4\uace0 \uc0dd\uac01\ud558\uc9c0\ub9cc \uc804\ub9dd\uc740 \ubd88\ud655\uc2e4\ud558\uba70 \uad6d\ubc29\ube44 \uc9c0\ucd9c\uc774 \uc911\uae30\uc801\uc73c\ub85c \uc778\ud50c\ub808\uc774\uc158\uc744 \ucd09\uc9c4\ud560 \uac83\uc774\ub77c\ub294 \uc6b0\ub824\uac00 \uc788\uc2b5\ub2c8\ub2e4. \uc77c\ubcf8\uc740\ud589\uc740 \ud575\uc2ec CPI\uac00 2025\ud68c\uacc4\uc5f0\ub3c4\uc5d0 2.7%\uc5d0 \ub3c4\ub2ec\ud55c \ud6c4 2026\ud68c\uacc4\uc5f0\ub3c4\uc5d0 1.8%\ub85c \ud558\ub77d\ud574 \uc548\uc815\uc131\uc774 \ubd80\uc871\ud560 \uac83\uc73c\ub85c \uc608\uce21\ud558\uace0 \uc788\uc2b5\ub2c8\ub2e4. \uadf8\ub9ac\uace0 \uc5f0\uc900\uc740 \uc9c0\uc18d\uc801\uc73c\ub85c \ubaa9\ud45c\ub97c \ucd08\uacfc\ud558\ub294 \uc778\ud50c\ub808\uc774\uc158\uc758 \ud604\uc2e4\uc5d0 \uc9c1\uba74\ud574 \uc788\uc73c\uba70, \uc774\ub294 \uae08\ub9ac \uc778\ud558\uc5d0 \ub300\ud55c \uae30\ub300\uac00 \ub0c9\uac01\ub418\ub294 \ud575\uc2ec\uc785\ub2c8\ub2e4. \uc774\ub7ec\ud55c \"\uac00\uae4c\uc6b0\uba74\uc11c\ub3c4 \ubd88\uc548\uc815\ud55c\" \uc0c1\ud0dc\ub294 \uc911\uc559\uc740\ud589\uc744 \uc815\ucc45 \ub51c\ub808\ub9c8\uc5d0 \ube60\ub728\ub9bd\ub2c8\ub2e4. \uae34\ucd95 \uc815\ucc45\uc740 \ud68c\ubcf5\uc744 \ubc29\ud574\ud560 \uc218 \uc788\uace0, \uc644\ud654 \uc815\ucc45\uc740 \uc778\ud50c\ub808\uc774\uc158 \ubc18\ub4f1\uc744 \ucd09\ubc1c\ud560 \uc218 \uc788\uc5b4 \"\uad00\ub9dd\" \uade0\ud615 \uc804\ub7b5\ub9cc \ub0a8\uac8c \ub420 \uc218 \uc788\uc2b5\ub2c8\ub2e4.<\/p>\n

\"IMG_256\"<\/p>\n

<\/a>\uacbd\uc81c\uc131\uc7a5: \uc804\ubc18\uc801\uc778 \ud68c\ubcf5\uacfc \ub0b4\ubd80\uc801 \uaca9\ucc28\uac00 \uacf5\uc874<\/strong><\/p>\n

\uc138 \uc911\uc559\uc740\ud589 \ubaa8\ub450 \u201c\uc804\ubc18\uc801\uc778 \ud68c\ubcf5 \uc18d\uc5d0 \uad6c\uc870\uc801 \ucc28\uc774\u201d\uc5d0 \uc9c1\uba74\ud574 \uc788\uc2b5\ub2c8\ub2e4. \uc720\ub85c\uc874\uc758 \ud504\ub791\uc2a4\ub294 \uac15\ud55c \uc131\uc7a5\uc744 \uacbd\ud5d8\ud558\uace0 \uc788\ub294 \ubc18\uba74, \ub3c5\uc77c\uc740 \uc5ec\uc804\ud788 \u200b\u200b\ubd80\uc9c4\ud569\ub2c8\ub2e4. \uc77c\ubcf8\uc740 '\uc644\ub9cc\ud55c \ud68c\ubcf5'\uc744 \ubcf4\uc774\uace0 \uc788\uc9c0\ub9cc, \uc218\ucd9c\uc740 4\uac1c\uc6d4 \uc5f0\uc18d \uac10\uc18c(9\uc6d4 \uc18c\ud3ed \ubc18\ub4f1)\ud588\uace0, \ub300\ubbf8 \uc218\ucd9c\ub3c4 \uc5ec\uc804\ud788 \uac10\uc18c\uc138\ub97c \ubcf4\uc774\uace0 \uc788\ub2e4. \ubbf8\uad6d\uc740 \uae30\uc5c5 \ud22c\uc790\uc640 \uc18c\ub9e4\ud310\ub9e4\uac00 \uc655\uc131\ud55c \uc804\ud615\uc801\uc778 'K\uc790\ud615 \ubc1c\uc0b0'\uc744 \ubcf4\uc774\uace0 \uc788\uc9c0\ub9cc, \uc911\u00b7\uc800\uc18c\ub4dd\uce35\uc740 \ub178\ub3d9\ub825 \uacf5\uae09 \uc704\ucd95\uc5d0 \uc601\ud5a5\uc744 \ubc1b\uc544 \uc2e4\uc5c5\ub960\uc774 4\ub144\ub798 \ucd5c\uace0\uce58\uc778 4.3%, \uc0c1\uc704 10%\uac00 \uc18c\ube44\uc758 \uc808\ubc18\uc744 \ucc28\uc9c0\ud558\uace0 \ube48\ubd80\uaca9\ucc28\uac00 \ud655\ub300\ub41c\ub2e4. \uc774\ub7ec\ud55c \ucc28\uc774\ub294 \"\uc77c\ub960\uc801\uc778\" \uc815\ucc45\uc758 \ud6a8\uc728\uc131\uc744 \uc81c\ud55c\ud569\ub2c8\ub2e4. ECB\ub294 \uc911\uc2ec \uad6d\uac00\uc640 \uc8fc\ubcc0 \uad6d\uac00 \uac04\uc758 \ucc28\uc774\ub97c \uace0\ub824\ud574\uc57c \ud558\uba70, \uc77c\ubcf8 \uc740\ud589\uc740 \ucde8\uc57d\ud55c \uc218\ucd9c\uacfc \ub0b4\uc218 \ud68c\ubcf5\uc758 \uade0\ud615\uc744 \ub9de\ucdb0\uc57c \ud558\uba70, \uc5f0\uc900\uc740 \"\ubd80\uc591 \uc815\ucc45\uc740 \ubd80\uc790\ub4e4\uc5d0\uac8c\ub9cc \ud61c\ud0dd\uc744 \uc900\ub2e4\"\ub294 \uc724\ub9ac\uc801 \ub51c\ub808\ub9c8\ub97c \ud574\uacb0\ud574\uc57c \ud569\ub2c8\ub2e4.<\/p>\n

<\/a>\uc678\ubd80 \uc704\ud5d8: \uae00\ub85c\ubc8c \ubd88\ud655\uc2e4\uc131\uc774 \uacf5\ud1b5 \uc815\ucc45 \ubcc0\uc218\uac00 \ub429\ub2c8\ub2e4.<\/strong><\/p>\n

\uae00\ub85c\ubc8c \ubb34\uc5ed \ubd84\uc7c1, \uc9c0\uc815\ud559\uc801 \uae34\uc7a5, \ubbf8\uad6d \uc815\ucc45\uc758 \ud30c\uae09\ud6a8\uacfc\ub294 \uc138 \uc911\uc559\uc740\ud589\uc758 \uc758\uc0ac\uacb0\uc815\uc5d0 \uc601\ud5a5\uc744 \ubbf8\uce58\ub294 \uc77c\ubc18\uc801\uc778 \uc678\ubd80 \ubcc0\uc218\uc785\ub2c8\ub2e4. ECB\ub294 \uae00\ub85c\ubc8c \ud658\uacbd \ubb38\uc81c\ub97c \uc5b8\uae09\ud588\uace0 BCA \uc804\ub7b5\uac00 Matthew Savari\ub294 \uc720\ub7fd \uc790\uc0b0 \uc131\uacfc\uac00 \ubbf8\uad6d \uc815\ucc45\uc5d0 \ub2ec\ub824 \uc788\ub2e4\uace0 \ub9d0\ud588\uc2b5\ub2c8\ub2e4. \uc77c\ubcf8\uc740\ud589\uc740 \ubb34\uc5ed \ubd88\ud655\uc2e4\uc131\uacfc \ubbf8\uad6d\uc758 \uad00\uc138 \uc804\ub2ec \uc704\ud5d8\uc744 \uacbd\uacc4\ud558\uace0 \uc788\uc73c\uba70, \uc5d4\ud654 \uc57d\uc138\uc5d0 \ub300\ud55c \ubbf8\uad6d\uc758 \uc555\ub825\ub3c4 \ubc1b\uace0 \uc788\ub2e4. \uc5f0\ubc29\uc900\ube44\uc81c\ub3c4(Fed\u00b7\uc5f0\uc900)\uc758 \uc815\ucc45 \ud310\ub2e8\uc740 \uc815\ubd80 \ud3d0\uc1c4\ub85c \uc778\ud55c \ub370\uc774\ud130 \ubd80\uc871\uc73c\ub85c \uc778\ud574 \uc601\ud5a5\uc744 \ubc1b\uace0 \uc788\ub2e4. \uc138\uacc4 \uacbd\uc81c\uc758 \uc0c1\ud638\uc758\uc874\uc131\uc73c\ub85c \uc778\ud574 \uc8fc\uc694 \uc911\uc559\uc740\ud589\uc774 \ub2e8\ub3c5\uc73c\ub85c \ud589\ub3d9\ud558\uae30\uac00 \uc5b4\ub824\uc6cc\uc9c0\uace0 \uc678\ubd80 \uc704\ud5d8\uc774 \uc911\uc559\uc740\ud589\uc758 \uc815\ucc45 \uacf5\uac04\uc744 \uc81c\uc57d\ud558\ub294 \uc8fc\uc694 \uc694\uc778\uc774 \ub418\uc5c8\uc2b5\ub2c8\ub2e4.<\/p>\n

<\/a>\uc2dc\uc7a5\uc5f0\uacc4\uc640 \ub0b4\ubd80\uacbd\uc7c1: \uc815\ucc45\ud6a8\uacfc\uc758 \uc591\ubc29\ud5a5 \uc804\ub2ec<\/strong><\/p>\n

3\uac1c \uc911\uc559\uc740\ud589\uc758 \ud1b5\ud654\uc815\ucc45 \uacb0\uc815\uc740 \uad6d\ub0b4 \uae08\uc735\uc2dc\uc7a5\uc5d0 \uc9c1\uc811\uc801\uc778 \uc601\ud5a5\uc744 \ubbf8\uce60 \ubfd0\ub9cc \uc544\ub2c8\ub77c \ud658\uc728, \uc790\uc0b0 \uac00\uaca9 \ubc0f \uae30\ud0c0 \ucc44\ub110\uc744 \ud1b5\ud574 \uae00\ub85c\ubc8c \uc5f0\uacb0\uc744 \ud615\uc131\ud569\ub2c8\ub2e4. \ub3d9\uc2dc\uc5d0 \uc911\uc559\uc740\ud589 \ub0b4\ubd80\uc758 \uc815\ucc45 \uc785\uc7a5 \ucc28\uc774\ub85c \uc778\ud574 \ubbf8\ub798 \uacbd\ub85c\uc5d0 \ub300\ud55c \uc2dc\uc7a5 \ucd94\uce21\uc774 \ub354\uc6b1 \uc99d\ud3ed\ub418\uc5c8\uc2b5\ub2c8\ub2e4.<\/p>\n

\"\uc0ac\uc9c4<\/p>\n

<\/a>\uc2dc\uc7a5 \ubc18\uc751: \uc815\ucc45 \ud6a8\uacfc\uc758 \ucc99\ub3c4\ub85c\uc11c\uc758 \ud658\uc728\uacfc \uc8fc\uc2dd \uc2dc\uc7a5<\/strong><\/p>\n

\uc774\ub7ec\ud55c \ubc18\uc751\uc740 \uc2dc\uc7a5\uc774 \uc911\uc559\uc740\ud589 \uc815\ucc45\uc5d0 \ub300\ud574 \"\uac00\uaca9 \uad00\uc131\"\uc744 \uac1c\ubc1c\ud588\uc73c\uba70 \uc815\ucc45 \uc2e0\ud638\uc758 \uc0ac\uc18c\ud55c \ubcc0\ud654\ub77c\ub3c4 \uc790\uc0b0 \uac00\uaca9\uc758 \uc0c1\ub2f9\ud55c \uc870\uc815\uc744 \ucd09\ubc1c\ud560 \uc218 \uc788\uc74c\uc744 \ub098\ud0c0\ub0c5\ub2c8\ub2e4. \uc815\ucc45 \uc2e0\ud638\uac00 \ubc1c\ud45c\ub41c \ud6c4 \uc2dc\uc7a5 \ubc18\uc751\uc740 \uc815\ucc45 \uc758\ub3c4\uc640 \ubc00\uc811\ud558\uac8c \ubc18\uc601\ub418\uc5c8\uc2b5\ub2c8\ub2e4. ECB\uc758 \uacb0\uc815 \uc774\ud6c4 \uc720\ub85c\ud654\ub294 \ub2ec\ub7ec \ub300\ube44 \uc18c\ud3ed \uc0c1\uc2b9\ud558\uc5ec 2025\ub144 \uc774\ud6c4 \ub204\uc801 12% \uc0c1\uc2b9\ud588\uc2b5\ub2c8\ub2e4. \uc77c\ubcf8 \uc740\ud589\uc774 \uae08\ub9ac\ub97c \uc720\uc9c0\ud55c \ud6c4 \ub2ec\ub7ec\ub294 \ub2e8\uae30\uc801\uc73c\ub85c \uc5d4\ud654 \ub300\ube44 \uc57d 70\ud3ec\uc778\ud2b8 \uc0c1\uc2b9\ud588\uace0 \ub2c8\ucf00\uc774 225 \uc9c0\uc218\ub294 \uc18c\ud3ed \uc0c1\uc2b9\ud588\uc73c\uba70 '\uace0\uc2dc\uc7a5 \uac70\ub798'\ub85c \uc778\ud574 \uc9c0\uc218\uac00 \uc0ac\uc0c1 \ucd5c\uace0\uce58\ub97c \uae30\ub85d\ud588\uace0 \uc5d4\ud654\ub294 \ub2ec\ub7ec \ub300\ube44 150\ud3ec\uc778\ud2b8 \uc544\ub798\ub85c \ub5a8\uc5b4\uc84c\uc2b5\ub2c8\ub2e4. \ud30c\uc6d4 \uc5f0\uc900 \uc758\uc7a5\uc758 '\ub0c9\uac01' \ubc1c\uc5b8\uc740 12\uc6d4 \uae08\ub9ac \uc778\ud558 \uae30\ub300\uac10\uc744 \uc9c1\uc811\uc801\uc73c\ub85c \ub0ae\ucd94\uc5c8\uace0 \uc790\uc0b0 \uac00\uaca9 \ubcc0\ub3d9\uc131\uc740 \uac00\ub77c\uc549\uc558\uc2b5\ub2c8\ub2e4.<\/p>\n

<\/a>\ub0b4\ubd80 \ubd84\uc5f4: \ub9e4\ud30c\uc640 \ube44\ub458\uae30\ud30c \uc0ac\uc774\uc758 \ud22c\uc7c1\uc740 \uc815\ucc45 \ub51c\ub808\ub9c8\ub97c \uac15\uc870\ud569\ub2c8\ub2e4.<\/strong><\/p>\n

\uc138 \uc911\uc559\uc740\ud589\uc740 \ubaa8\ub450 \"\uc778\ud50c\ub808\uc774\uc158 \uc704\ud5d8\"\uacfc \"\uc131\uc7a5 \uc704\ud5d8\"\uc758 \uc0c1\ub300\uc801 \uc911\uc694\uc131\uc5d0 \ub300\ud55c \uc11c\ub85c \ub2e4\ub978 \ud3c9\uac00\ub85c \uc778\ud574 \uc11c\ub85c \ub2e4\ub978 \ub0b4\ubd80 \uc815\ucc45 \uc785\uc7a5\uc744 \uac00\uc9c0\uace0 \uc788\uc2b5\ub2c8\ub2e4. ECB\ub294 \uc131\uc7a5 \ub454\ud654\uc640 \uc778\ud50c\ub808\uc774\uc158 \uc704\ud5d8\uc744 \ud574\uacb0\ud558\uae30 \uc704\ud574 \uc644\ud654\ub97c \uc639\ud638\ud558\ub294 \ubc18\uba74(\ud22c\uc790\uc790\ub4e4\uc740 \ub0b4\ub144 \uc5ec\ub984 \uc774\uc804\uc5d0 \uae08\ub9ac \uc778\ud558 \ud655\ub960\uc774 40~50%\ub85c \uc608\uc0c1\ub428), \ub9e4\ud30c\ub294 \ub3c5\uc77c \uad6d\ubc29 \ubc0f \uc778\ud504\ub77c \uc9c0\ucd9c\uc758 \ubd80\uc591 \ud6a8\uacfc\ub97c \uc120\ud638\ud558\uace0 \ucd94\uac00 \uc644\ud654\uc5d0 \ubc18\ub300\ud569\ub2c8\ub2e4. \uc77c\ubcf8 \uc740\ud589(BoJ)\uc758 7\ub300 2 \ud45c\uacb0\uc740 \"\uc778\ud50c\ub808\uc774\uc158 \ud1b5\uc81c\" \ub300 \"\ud68c\ubcf5 \uc548\uc815\ud654\"\uc5d0 \ucd08\uc810\uc744 \ub9de\ucdc4\uc2b5\ub2c8\ub2e4. \uae08\ub9ac \uc778\uc0c1 \uc9c0\uc9c0\uc790\ub4e4\uc740 \ubb3c\uac00 \uc0c1\uc2b9\uc744 \uc6b0\ub824\ud558\ub294 \ubc18\uba74 \ub300\ub2e4\uc218\ub294 \uae08\ub9ac \uc778\uc0c1\uc774 \uc218\ucd9c\uacfc \uad6d\ub0b4 \uc218\uc694\ub97c \uc5b5\uc81c\ud560 \uac83\uc774\ub77c\uace0 \uc6b0\ub824\ud588\uc2b5\ub2c8\ub2e4. \uc5f0\uc900\uc758 \ubd80\uc11c\ub294 \uc880 \ub354 \ubcf5\uc7a1\ud569\ub2c8\ub2e4. \uc77c\ubd80\ub294 \uace0\uc6a9 \uc548\uc815\uc744 \uc704\ud55c \uae08\ub9ac \uc778\ud558\ub97c \uc639\ud638\ud558\ub294 \ubc18\uba74, \ud30c\uc6d4 \ub4f1\uc740 \uacf5\uae09 \uce21\uba74\uc758 \ubb38\uc81c\uac00 \uc218\uc694 \ubd80\uc591\uc73c\ub85c \ud574\uacb0\ub420 \uc218 \uc5c6\uc73c\uba70 \uac70\ud488\uc744 \ucd09\ubc1c\ud558\ub294 \uc644\ud654 \uc815\ucc45\uc744 \uacbd\uacc4\ud558\uace0 \uc788\uc2b5\ub2c8\ub2e4. \uc774\ub7ec\ud55c \ucc28\uc774\ub294 \ud5a5\ud6c4 \uc911\uc559\uc740\ud589 \uc815\ucc45\uc774 \ub354\uc6b1 \"\uc810\uc9c4\uc801\"\uc774 \ub420 \uac83\uc774\uba70 \uc2dc\uc7a5 \ubcc0\ub3d9\uc131\uc744 \uc644\ud654\ud558\uae30 \uc704\ud574 \ub354 \ub9ce\uc740 \ub370\uc774\ud130 \uac80\uc99d\uc774 \ud544\uc694\ud560 \uac83\uc784\uc744 \uc2dc\uc0ac\ud569\ub2c8\ub2e4.<\/p>\n

\"IMG_256\"<\/p>\n

<\/a>\ubbf8\ub798 \uc804\ub9dd: \ubd88\ud655\uc2e4\uc131 \uc18d\uc758 \uc815\ucc45 \uae30\ubc18<\/strong><\/p>\n

3\uac1c \uc911\uc559\uc740\ud589\uc758 \uacb0\uc815\uacfc \uc131\uba85\uc744 \uc885\ud569\ud558\uba74, \uc120\uc9c4\uad6d\uc758 \ubbf8\ub798 \ud1b5\ud654\uc815\ucc45\uc740 \u201c\uc548\uc815\uc744 \uc8fc\uc694 \ucd08\uc810\uc73c\ub85c \ud558\uace0 \ud544\uc694\uc5d0 \ub530\ub77c \uc870\uc815\ud558\ub294\u201d \uac83\uc774 \ud2b9\uc9d5\uc774 \ub420 \uac83\uc785\ub2c8\ub2e4. \ud575\uc2ec \uc575\ucee4\uc5d0\ub294 \uacbd\uc81c \ub370\uc774\ud130 \uac80\uc99d, \uc678\ubd80 \ub9ac\uc2a4\ud06c \ub300\uc751, \uc815\ucc45 \uc870\uc815 \ub4f1\uc774 \ud3ec\ud568\ub429\ub2c8\ub2e4. \uc774\ub7ec\ud55c \ud1b5\ud654 \uc815\ucc45 \uc120\ud0dd\uc740 \ubcf8\uc9c8\uc801\uc73c\ub85c \uae00\ub85c\ubc8c \ubd88\ud655\uc2e4\uc131 \ud558\uc5d0\uc11c \uc790\uccb4 \ud380\ub354\uba58\ud138\uacfc \"\uc2e0\uc911\ud55c \ud14c\uc2a4\ud2b8\"\uc5d0 \ub300\ud55c \ub300\uc751\uc785\ub2c8\ub2e4. \ubd88\uc548\uc815\ud55c \uc778\ud50c\ub808\uc774\uc158, \uacbd\uc81c \uaca9\ucc28, \ub300\uc678 \ub9ac\uc2a4\ud06c \uc0c1\uc874 \ub4f1\uc744 \ubc30\uacbd\uc73c\ub85c \uc774\ub4e4\uc758 \uc815\ucc45\uc740 '\uc548\uc815\uc801\uc774\uba74\uc11c\ub3c4 \uc720\uc5f0\ud55c' \ud2b9\uc131\uc744 \uc720\uc9c0\ud560 \uac83\uc774\ub2e4. \uc5f0\uacc4 \ud6a8\uacfc\uc640 \ub0b4\ubd80 \uac8c\uc784\uc740 \uacc4\uc18d\ud574\uc11c \uae00\ub85c\ubc8c \uae08\uc735 \uc2dc\uc7a5\uc744 \ud615\uc131\ud560 \uac83\uc785\ub2c8\ub2e4. \uc2dc\uc7a5 \ucc38\uac00\uc790\uc758 \uacbd\uc6b0 \uc911\uc559\uc740\ud589 \ub370\uc774\ud130\uc758 \ud574\uc11d\uacfc \uc815\ucc45 \uc785\uc7a5\uc758 \ubcc0\ud654\uc5d0 \u200b\u200b\uc8fc\uc758\ub97c \uae30\uc6b8\uc774\ub294 \uac83\uc774 \uae30\ud68c\ub97c \ud3ec\ucc29\ud558\uace0 \uc704\ud5d8\uc744 \ud53c\ud558\ub294 \ub370 \uc911\uc694\ud569\ub2c8\ub2e4.<\/p>","protected":false},"excerpt":{"rendered":"

ECB, \uc77c\ubcf8\uc740\ud589, \uc5f0\ubc29\uc900\ube44\uc740\ud589\uc758 \ucd5c\uc2e0 \ud1b5\ud654\uc815\ucc45\uc744 \ubd84\uc11d\ud574 \ubcf4\uc138\uc694. \uae08\ub9ac \uacb0\uc815, \uc778\ud50c\ub808\uc774\uc158 \ubaa9\ud45c, \uacbd\uc81c \uc131\uc7a5 \ubc0f \uae00\ub85c\ubc8c \uc704\ud5d8\uc774 \uc5b4\ub5bb\uac8c \uc120\uc9c4\uad6d \uacbd\uc81c\ub97c \ud615\uc131\ud558\uace0 \uc804 \uc138\uacc4\uc801\uc73c\ub85c \ud658\uc728, \uc8fc\uc2dd \uc2dc\uc7a5 \ubc0f \ud22c\uc790 \uc804\ub7b5\uc5d0 \uc601\ud5a5\uc744 \ubbf8\uce58\ub294\uc9c0 \uc54c\uc544\ubcf4\uc138\uc694.<\/p>","protected":false},"author":1,"featured_media":8683,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[115],"tags":[401,403,402],"class_list":["post-8682","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financial-news","tag-european-central-bank","tag-global-economic-outlook","tag-monetary-policy-analysis"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.mdwcc.com\/ko\/wp-json\/wp\/v2\/posts\/8682","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.mdwcc.com\/ko\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.mdwcc.com\/ko\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.mdwcc.com\/ko\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.mdwcc.com\/ko\/wp-json\/wp\/v2\/comments?post=8682"}],"version-history":[{"count":1,"href":"https:\/\/www.mdwcc.com\/ko\/wp-json\/wp\/v2\/posts\/8682\/revisions"}],"predecessor-version":[{"id":8688,"href":"https:\/\/www.mdwcc.com\/ko\/wp-json\/wp\/v2\/posts\/8682\/revisions\/8688"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.mdwcc.com\/ko\/wp-json\/wp\/v2\/media\/8683"}],"wp:attachment":[{"href":"https:\/\/www.mdwcc.com\/ko\/wp-json\/wp\/v2\/media?parent=8682"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mdwcc.com\/ko\/wp-json\/wp\/v2\/categories?post=8682"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mdwcc.com\/ko\/wp-json\/wp\/v2\/tags?post=8682"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}