{"id":9379,"date":"2026-04-27T09:31:16","date_gmt":"2026-04-27T09:31:16","guid":{"rendered":"https:\/\/www.mdwcc.com\/?p=9379"},"modified":"2026-04-27T09:31:19","modified_gmt":"2026-04-27T09:31:19","slug":"a-look-ahead-to-the-super-central-bank-week-the-high-altitude-balancing-technique-of-global-monetary-policy","status":"publish","type":"post","link":"https:\/\/www.mdwcc.com\/vi\/a-look-ahead-to-the-super-central-bank-week-the-high-altitude-balancing-technique-of-global-monetary-policy\/","title":{"rendered":"Nh\u00ecn v\u1ec1 Tu\u1ea7n l\u1ec5 Si\u00eau ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng: K\u1ef9 thu\u1eadt c\u00e2n b\u1eb1ng t\u1ea7m cao c\u1ee7a ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 to\u00e0n c\u1ea7u"},"content":{"rendered":"

Th\u1ecb tr\u01b0\u1eddng t\u00e0i ch\u00ednh to\u00e0n c\u1ea7u \u0111ang b\u01b0\u1edbc v\u00e0o giai \u0111o\u1ea1n ch\u00ednh s\u00e1ch quan tr\u1ecdng nh\u1ea5t c\u1ee7a th\u1ebf k\u1ef7 n\u00e0y, v\u1edbi vi\u1ec7c c\u00e1c ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng G7 l\u1ea7n \u0111\u1ea7u ti\u00ean t\u1ed5 ch\u1ee9c c\u00e1c cu\u1ed9c h\u1ecdp ch\u00ednh s\u00e1ch trong c\u00f9ng m\u1ed9t tu\u1ea7n, c\u00f9ng nhau t\u00e1c \u0111\u1ed9ng \u0111\u1ebfn \u0111\u1ecbnh h\u01b0\u1edbng ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 chi\u1ebfm m\u1ed9t n\u1eeda n\u1ec1n kinh t\u1ebf to\u00e0n c\u1ea7u. Nh\u00f3m ph\u00e2n t\u00edch c\u1ee7a ACE Markets tin r\u1eb1ng, v\u1edbi gi\u00e1 n\u0103ng l\u01b0\u1ee3ng ti\u1ebfp t\u1ee5c bi\u1ebfn \u0111\u1ed9ng m\u1ea1nh do xung \u0111\u1ed9t \u0111\u1ecba ch\u00ednh tr\u1ecb, \u201ccu\u1ed9c c\u1ea1nh tranh\u201d ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 to\u00e0n c\u1ea7u n\u00e0y \u0111\u00e3 ph\u00e1t tri\u1ec3n th\u00e0nh m\u1ed9t cu\u1ed9c \u0111i b\u1ed9 tr\u00ean d\u00e2y, t\u00ecm ki\u1ebfm s\u1ef1 c\u00e2n b\u1eb1ng tinh t\u1ebf gi\u1eefa \u00e1p l\u1ef1c l\u1ea1m ph\u00e1t gia t\u0103ng v\u00e0 t\u1ed1c \u0111\u1ed9 t\u0103ng tr\u01b0\u1edfng kinh t\u1ebf ch\u1eadm l\u1ea1i. B\u1ea5t k\u1ef3 s\u1ef1 sai l\u1ec7ch n\u00e0o trong c\u00e1c t\u00edn hi\u1ec7u ch\u00ednh s\u00e1ch \u0111\u1ec1u c\u00f3 th\u1ec3 g\u00e2y ra ph\u1ea3n \u1ee9ng d\u00e2y chuy\u1ec1n tr\u00ean th\u1ecb tr\u01b0\u1eddng to\u00e0n c\u1ea7u.<\/p>\n

<\/a>T\u00ecnh th\u1ebf ti\u1ebfn tho\u00e1i l\u01b0\u1ee1ng nan k\u00e9p c\u1ee7a c\u00e1c nh\u00e0 ho\u1ea1ch \u0111\u1ecbnh ch\u00ednh s\u00e1ch: l\u1ea1m ph\u00e1t t\u00e1i ph\u00e1t v\u00e0 m\u1ed1i lo ng\u1ea1i v\u1ec1 t\u0103ng tr\u01b0\u1edfng \u0111ang r\u00ecnh r\u1eadp.<\/strong><\/p>\n

ACE Markets nh\u1eadn th\u1ea5y r\u1eb1ng c\u00e1c ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng tr\u00ean to\u00e0n th\u1ebf gi\u1edbi \u0111ang ph\u1ea3i \u0111\u1ed1i m\u1eb7t v\u1edbi m\u1ed9t m\u00f4i tr\u01b0\u1eddng ra quy\u1ebft \u0111\u1ecbnh ph\u1ee9c t\u1ea1p h\u01a1n bao gi\u1edd h\u1ebft. M\u1ed9t m\u1eb7t, gi\u00e1 d\u1ea7u t\u0103ng v\u1ecdt do xung \u0111\u1ed9t leo thang \u1edf Trung \u0110\u00f4ng \u0111ang l\u00e0m gia t\u0103ng r\u1ee7i ro l\u1ea1m ph\u00e1t to\u00e0n c\u1ea7u, v\u1edbi ch\u1ec9 s\u1ed1 gi\u00e1 ti\u00eau d\u00f9ng \u1edf m\u1ed9t s\u1ed1 n\u1ec1n kinh t\u1ebf l\u1edbn \u0111ang c\u00f3 d\u1ea5u hi\u1ec7u ph\u1ee5c h\u1ed3i r\u00f5 r\u00e0ng. CPI c\u1ee7a V\u01b0\u01a1ng qu\u1ed1c Anh \u0111\u00e3 t\u0103ng 3,3% so v\u1edbi c\u00f9ng k\u1ef3 trong th\u00e1ng 3, m\u1ed9t m\u1ee9c t\u0103ng \u0111\u00e1ng k\u1ec3 so v\u1edbi th\u00e1ng tr\u01b0\u1edbc, ch\u1ee7 y\u1ebfu do chi ph\u00ed nhi\u00ean li\u1ec7u \u00f4 t\u00f4 t\u0103ng m\u1ea1nh. M\u1ed9t nh\u00e0 kinh t\u1ebf c\u1ea5p cao t\u1ea1i ACE Markets ch\u1ec9 ra r\u1eb1ng kh\u00f4ng n\u00ean \u0111\u00e1nh gi\u00e1 th\u1ea5p \u00e1p l\u1ef1c l\u1ea1m ph\u00e1t do n\u0103ng l\u01b0\u1ee3ng th\u00fac \u0111\u1ea9y n\u00e0y; Nh\u1eefng b\u00e0i h\u1ecdc r\u00fat ra t\u1eeb \u0111\u00e1nh gi\u00e1 sai l\u1ea7m ban \u0111\u1ea7u v\u1ec1 \u201cl\u1ea1m ph\u00e1t t\u1ea1m th\u1eddi\u201d trong giai \u0111o\u1ea1n \u0111\u1ea7u c\u1ee7a \u0111\u1ea1i d\u1ecbch v\u1eabn c\u00f2n in s\u00e2u trong t\u00e2m tr\u00ed m\u1ecdi ng\u01b0\u1eddi v\u00e0 c\u00e1c nh\u00e0 ho\u1ea1ch \u0111\u1ecbnh ch\u00ednh s\u00e1ch ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng v\u1eabn h\u1ebft s\u1ee9c c\u1ea3nh gi\u00e1c.<\/p>\n

M\u1eb7t kh\u00e1c, gi\u00e1 c\u1ea3 cao li\u00ean t\u1ee5c \u0111ang k\u00ecm h\u00e3m nhu c\u1ea7u ti\u00eau d\u00f9ng v\u00e0 c\u00f9ng v\u1edbi s\u1ef1 x\u00f3i m\u00f2n ni\u1ec1m tin kinh doanh li\u00ean t\u1ee5c do nh\u1eefng b\u1ea5t \u1ed5n \u0111\u1ecba ch\u00ednh tr\u1ecb, tri\u1ec3n v\u1ecdng t\u0103ng tr\u01b0\u1edfng kinh t\u1ebf to\u00e0n c\u1ea7u ng\u00e0y c\u00e0ng tr\u1edf n\u00ean u \u00e1m. T\u00ecnh th\u1ebf ti\u1ebfn tho\u00e1i l\u01b0\u1ee1ng nan n\u00e0y bu\u1ed9c c\u00e1c quan ch\u1ee9c ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng ph\u1ea3i l\u1ef1a ch\u1ecdn c\u1ea9n th\u1eadn c\u00e1c t\u00edn hi\u1ec7u ch\u00ednh s\u00e1ch c\u1ee7a m\u00ecnh. Nh\u00f3m chi\u1ebfn l\u01b0\u1ee3c th\u1ecb tr\u01b0\u1eddng c\u1ee7a ACE Markets nh\u1ea5n m\u1ea1nh r\u1eb1ng trong m\u00f4i tr\u01b0\u1eddng th\u1ecb tr\u01b0\u1eddng r\u1ea5t nh\u1ea1y c\u1ea3m hi\u1ec7n nay, ngay c\u1ea3 nh\u1eefng thay \u0111\u1ed5i nh\u1ecf trong c\u00e1ch di\u1ec5n \u0111\u1ea1t c\u0169ng c\u00f3 th\u1ec3 b\u1ecb di\u1ec5n gi\u1ea3i qu\u00e1 m\u1ee9c v\u00e0 g\u00e2y ra nh\u1eefng bi\u1ebfn \u0111\u1ed9ng m\u1ea1nh.<\/p>\n

<\/a>T\u00e1i thi\u1ebft logic \u0111\u1ecbnh gi\u00e1 truy\u1ec1n th\u1ed1ng: S\u1ef1 kh\u00e1c bi\u1ec7t l\u1ecbch s\u1eed gi\u1eefa v\u00e0ng v\u00e0 tr\u00e1i phi\u1ebfu kho b\u1ea1c Hoa K\u1ef3<\/strong><\/p>\n

\"\u5c40\u90e8\u622a\u53d6_20260427_154104\"<\/strong><\/p>\n

Nghi\u00ean c\u1ee9u chuy\u00ean s\u00e2u c\u1ee7a ACE Markets cho th\u1ea5y th\u1ecb tr\u01b0\u1eddng t\u00e0i ch\u00ednh to\u00e0n c\u1ea7u \u0111ang tr\u1ea3i qua qu\u00e1 tr\u00ecnh chuy\u1ec3n \u0111\u1ed5i c\u01a1 c\u1ea5u s\u00e2u s\u1eafc, ph\u00e1 v\u1ee1 logic \u0111\u1ecbnh gi\u00e1 t\u00e0i s\u1ea3n truy\u1ec1n th\u1ed1ng. Trong m\u1ed9t th\u1eddi gian d\u00e0i, l\u00e3i su\u1ea5t tr\u00e1i phi\u1ebfu kho b\u1ea1c Hoa K\u1ef3 \u0111\u01b0\u1ee3c coi l\u00e0 \u0111i\u1ec3m t\u1ef1a c\u1ed1t l\u00f5i cho vi\u1ec7c \u0111\u1ecbnh gi\u00e1 v\u00e0ng, v\u1edbi l\u00e3i su\u1ea5t th\u1ef1c t\u1ebf c\u1ee7a Kho b\u1ea1c Hoa K\u1ef3 th\u1ec3 hi\u1ec7n chi ph\u00ed c\u01a1 h\u1ed9i c\u1ee7a vi\u1ec7c n\u1eafm gi\u1eef v\u00e0ng, cho th\u1ea5y m\u1ed1i t\u01b0\u01a1ng quan ti\u00eau c\u1ef1c \u1ed5n \u0111\u1ecbnh. Tuy nhi\u00ean, m\u00f4 h\u00ecnh n\u00e0y \u0111\u00e3 ch\u1ee9ng ki\u1ebfn \u200b\u200b\u200b\u200bs\u1ef1 ph\u00e2n k\u1ef3 l\u1ecbch s\u1eed v\u00e0o th\u00e1ng 4 n\u0103m 2025: Gi\u00e1 v\u00e0ng giao ngay \u1edf Lu\u00e2n \u0110\u00f4n t\u0103ng t\u1eeb $3123,20\/ounce l\u00ean $3288,12\/ounce trong th\u00e1ng \u0111\u00f3, t\u0103ng 5,26%, nhanh ch\u00f3ng ti\u1ebfn g\u1ea7n \u0111\u1ebfn m\u1ed1c $3500\/ounce; \u0111\u1ed3ng th\u1eddi, gi\u00e1 v\u00e0ng t\u01b0\u01a1ng lai COMEX t\u0103ng 6%, trong khi l\u00e3i su\u1ea5t tr\u00e1i phi\u1ebfu kho b\u1ea1c M\u1ef9 k\u1ef3 h\u1ea1n 10 n\u0103m t\u0103ng 48 \u0111i\u1ec3m c\u01a1 b\u1ea3n ch\u1ec9 trong m\u1ed9t tu\u1ea7n v\u00e0 ch\u1ec9 s\u1ed1 \u0111\u00f4 la M\u1ef9 gi\u1ea3m h\u01a1n 4% trong c\u00f9ng th\u1eddi k\u1ef3.<\/p>\n

C\u00e1c nh\u00e0 ph\u00e2n t\u00edch c\u1ee7a ACE Markets tin r\u1eb1ng hi\u1ec7n t\u01b0\u1ee3ng thay \u0111\u1ed5i \u0111\u1ed3ng th\u1eddi hi\u1ebfm g\u1eb7p n\u00e0y \u1edf ba y\u1ebfu t\u1ed1 n\u00e0y ph\u1ea3n \u00e1nh s\u1ef1 thay \u0111\u1ed5i c\u01a1 b\u1ea3n trong d\u00f2ng v\u1ed1n to\u00e0n c\u1ea7u. \u0110\u1ed9ng l\u1ef1c c\u1ed1t l\u00f5i \u0111\u1eb1ng sau gi\u00e1 v\u00e0ng kh\u00f4ng c\u00f2n l\u00e0 l\u00e3i su\u1ea5t truy\u1ec1n th\u1ed1ng hay c\u00e1c bi\u1ebfn s\u1ed1 l\u1ea1m ph\u00e1t m\u00e0 l\u00e0 m\u1ed1i quan t\u00e2m chung c\u1ee7a c\u00e1c ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng to\u00e0n c\u1ea7u v\u1ec1 \u0111\u1ed9 tin c\u1eady c\u1ee7a \u0111\u1ed3ng \u0111\u00f4 la M\u1ef9. Ch\u00ednh s\u00e1ch \u201cthu\u1ebf quan c\u00f3 \u0111i c\u00f3 l\u1ea1i\u201d c\u1ee7a ch\u00ednh quy\u1ec1n Trump \u0111\u00e3 l\u00e0m tr\u1ea7m tr\u1ecdng th\u00eam c\u00e1c xung \u0111\u1ed9t th\u01b0\u01a1ng m\u1ea1i to\u00e0n c\u1ea7u, g\u00e2y \u00e1p l\u1ef1c l\u00ean \u0111\u1ed3ng \u0111\u00f4 la v\u00e0 li\u00ean t\u1ee5c l\u00e0m suy y\u1ebfu ni\u1ec1m tin c\u1ee7a th\u1ecb tr\u01b0\u1eddng v\u00e0o \u0111\u1ed3ng ti\u1ec1n n\u00e0y. Trong b\u1ed1i c\u1ea3nh \u0111\u00f3, c\u00e1c ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng to\u00e0n c\u1ea7u \u0111\u00e3 ph\u00e1t \u0111\u1ed9ng m\u1ed9t \u0111\u1ee3t mua v\u00e0ng b\u1ec1n v\u1eefng: d\u1eef li\u1ec7u m\u1edbi nh\u1ea5t t\u1eeb \u200b\u200bH\u1ed9i \u0111\u1ed3ng v\u00e0ng th\u1ebf gi\u1edbi cho th\u1ea5y d\u1ef1 tr\u1eef v\u00e0ng ch\u00ednh th\u1ee9c to\u00e0n c\u1ea7u \u0111\u00e3 t\u0103ng 244 t\u1ea5n trong qu\u00fd \u0111\u1ea7u ti\u00ean c\u1ee7a n\u0103m 2025, \u0111\u00e1nh d\u1ea5u n\u0103m th\u1ee9 16 li\u00ean ti\u1ebfp c\u00e1c ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng to\u00e0n c\u1ea7u mua r\u00f2ng v\u00e0ng. ACE Markets d\u1ef1 \u0111o\u00e1n r\u1eb1ng trong b\u1ed1i c\u1ea3nh c\u00f3 nh\u1eefng \u0111i\u1ec1u ch\u1ec9nh s\u00e2u s\u1eafc trong b\u1ed1i c\u1ea3nh kinh t\u1ebf v\u00e0 ch\u00ednh tr\u1ecb qu\u1ed1c t\u1ebf hi\u1ec7n nay, gi\u00e1 v\u00e0ng s\u1ebd c\u00f3 nhi\u1ec1u kh\u1ea3 n\u0103ng t\u0103ng h\u01a1n l\u00e0 gi\u1ea3m trong m\u1ed9t th\u1eddi gian \u0111\u00e1ng k\u1ec3 v\u00e0 vi\u1ec7c t\u0103ng c\u01b0\u1eddng n\u1eafm gi\u1eef v\u00e0ng s\u1ebd v\u1eabn l\u00e0 l\u1ef1a ch\u1ecdn chi\u1ebfn l\u01b0\u1ee3c l\u00e2u d\u00e0i c\u1ee7a c\u00e1c ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng tr\u00ean to\u00e0n th\u1ebf gi\u1edbi.<\/p>\n

Trong khi \u0111\u00f3, th\u1ecb tr\u01b0\u1eddng t\u00e0i ch\u00ednh \u0111ang th\u1ec3 hi\u1ec7n s\u1ef1 ph\u00e2n h\u00f3a r\u00f5 r\u00e0ng: th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n v\u00e0 t\u00edn d\u1ee5ng ti\u1ebfp t\u1ee5c t\u0103ng khi c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 ch\u1ecdn l\u1ecdc b\u1ecf qua t\u00e1c \u0111\u1ed9ng c\u1ee7a xung \u0111\u1ed9t \u0111\u1ecba ch\u00ednh tr\u1ecb, trong khi l\u00e3i su\u1ea5t tr\u00e1i phi\u1ebfu ch\u00ednh ph\u1ee7 v\u1eabn \u1edf m\u1ee9c cao, v\u1edbi bi\u1ebfn \u0111\u1ed9ng trung b\u00ecnh h\u00e0ng ng\u00e0y c\u1ee7a l\u00e3i su\u1ea5t tr\u00e1i phi\u1ebfu ch\u00ednh ph\u1ee7 k\u1ef3 h\u1ea1n 1-3 n\u0103m gi\u1ea3m xu\u1ed1ng kho\u1ea3ng 2 \u0111i\u1ec3m c\u01a1 b\u1ea3n, ch\u01b0a b\u1eb1ng m\u1ed9t n\u1eeda m\u1ee9c trong th\u00e1ng 3. ACE Markets nh\u1eafc nh\u1edf nh\u1eefng ng\u01b0\u1eddi tham gia th\u1ecb tr\u01b0\u1eddng r\u1eb1ng s\u1ef1 kh\u00e1c bi\u1ec7t n\u00e0y \u0111\u1eb7t ra nh\u1eefng th\u00e1ch th\u1ee9c m\u1edbi \u0111\u1ed1i v\u1edbi chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0 tr\u00ean c\u00e1c lo\u1ea1i t\u00e0i s\u1ea3n kh\u00e1c nhau: c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 tr\u00e1i phi\u1ebfu c\u1ea7n ki\u1ec3m tra l\u1ea1i logic giao d\u1ecbch truy\u1ec1n th\u1ed1ng v\u00e0 c\u1ea3nh gi\u00e1c v\u1edbi lu\u1eadn \u0111i\u1ec7u ch\u1ed1ng l\u1ea1m ph\u00e1t di\u1ec1u h\u00e2u c\u1ee7a c\u00e1c ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng c\u00f3 kh\u1ea3 n\u0103ng \u0111\u1ea9y l\u1ee3i su\u1ea5t tr\u00e1i phi\u1ebfu t\u0103ng cao; trong khi c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 v\u00e0ng n\u00ean t\u1eadp trung v\u00e0o t\u00ednh b\u1ec1n v\u1eefng c\u1ee7a ho\u1ea1t \u0111\u1ed9ng mua v\u00e0ng c\u1ee7a ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng to\u00e0n c\u1ea7u v\u00e0 n\u1eafm b\u1eaft c\u00e1c c\u01a1 h\u1ed9i \u0111\u1ea7u t\u01b0 chi\u1ebfn l\u01b0\u1ee3c do xu h\u01b0\u1edbng d\u00e0i h\u1ea1n n\u00e0y mang l\u1ea1i.<\/p>\n

<\/a>H\u00e0nh \u0111\u1ed9ng c\u00e2n b\u1eb1ng tinh t\u1ebf c\u1ee7a c\u00e1c ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng tr\u00ean th\u1ebf gi\u1edbi: l\u1eadp tr\u01b0\u1eddng di\u1ec1u h\u00e2u th\u1eadn tr\u1ecdng tr\u1edf th\u00e0nh xu h\u01b0\u1edbng ch\u1ee7 \u0111\u1ea1o<\/strong><\/p>\n

\"\u5c40\u90e8\u622a\u53d6_20260427_154327\"<\/p>\n

Ng\u00e2n h\u00e0ng Nh\u1eadt B\u1ea3n s\u1ebd kh\u1edfi \u0111\u1ed9ng tu\u1ea7n l\u1ec5 si\u00eau ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng n\u00e0y. C\u00e1c chi\u1ebfn l\u01b0\u1ee3c gia th\u1ecb tr\u01b0\u1eddng c\u1ee7a ACE Markets Ch\u00e2u \u00c1 tin r\u1eb1ng Th\u1ed1ng \u0111\u1ed1c Kazuo Ueda \u0111ang \u0111\u1ee9ng tr\u01b0\u1edbc m\u1ed9t b\u01b0\u1edbc ngo\u1eb7t trong ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 c\u1ee7a Nh\u1eadt B\u1ea3n, m\u1ed9t \u0111i\u1ec3m ch\u01b0a t\u1eebng th\u1ea5y trong nhi\u1ec1u th\u1eadp k\u1ef7. V\u1edbi vi\u1ec7c \u0111\u1ed3ng y\u00ean g\u1ea7n \u0111\u1ebfn ng\u01b0\u1ee1ng can thi\u1ec7p v\u00e0 \u00e1p l\u1ef1c l\u1ea1m ph\u00e1t trong n\u01b0\u1edbc \u0111ang gia t\u0103ng, th\u1ecb tr\u01b0\u1eddng nh\u00ecn chung k\u1ef3 v\u1ecdng Ng\u00e2n h\u00e0ng Trung \u01b0\u01a1ng Nh\u1eadt B\u1ea3n s\u1ebd duy tr\u00ec l\u00e3i su\u1ea5t hi\u1ec7n t\u1ea1i, nh\u01b0ng c\u00f3 th\u1ec3 \u0111\u01b0a ra nh\u1eefng t\u00edn hi\u1ec7u hi\u1ebfu chi\u1ebfn v\u1ec1 vi\u1ec7c t\u0103ng l\u00e3i su\u1ea5t trong t\u01b0\u01a1ng lai th\u00f4ng qua b\u00e1o c\u00e1o tri\u1ec3n v\u1ecdng h\u00e0ng qu\u00fd. L\u1eadp tr\u01b0\u1eddng \u201ckh\u00f4ng h\u00e0nh \u0111\u1ed9ng di\u1ec1u h\u00e2u\u201d n\u00e0y s\u1ebd \u0111\u1eb7t n\u1ec1n m\u00f3ng cho nh\u1eefng \u0111i\u1ec1u ch\u1ec9nh ch\u00ednh s\u00e1ch v\u00e0o th\u00e1ng 6 v\u00e0 th\u1eadm ch\u00ed l\u00e0 th\u00e1ng 12.<\/p>\n

Cu\u1ed9c h\u1ecdp c\u1ee7a C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang l\u1ea7n n\u00e0y mang \u00fd ngh\u0129a bi\u1ec3u t\u01b0\u1ee3ng \u0111\u1eb7c bi\u1ec7t v\u00ec \u0111\u00e2y s\u1ebd l\u00e0 cu\u1ed9c h\u1ecdp cu\u1ed1i c\u00f9ng c\u1ee7a Ch\u1ee7 t\u1ecbch Powell trong nhi\u1ec7m k\u1ef3 c\u1ee7a \u00f4ng. Nh\u00e0 kinh t\u1ebf tr\u01b0\u1edfng ng\u01b0\u1eddi M\u1ef9 c\u1ee7a ACE Markets ch\u1ec9 ra r\u1eb1ng trong b\u1ed1i c\u1ea3nh xung \u0111\u1ed9t M\u1ef9-Iran leo thang, c\u00e1c quan ch\u1ee9c Fed \u0111\u00e3 nhi\u1ec1u l\u1ea7n c\u1ea3nh b\u00e1o r\u1eb1ng c\u00fa s\u1ed1c gi\u00e1 d\u1ea7u c\u00f3 th\u1ec3 bu\u1ed9c h\u1ecd ph\u1ea3i xem x\u00e9t l\u1ea1i con \u0111\u01b0\u1eddng ch\u00ednh s\u00e1ch tr\u01b0\u1edbc \u0111\u00e2y c\u1ee7a m\u00ecnh. Powell d\u1ef1 ki\u1ebfn \u200b\u200b\u200b\u200bs\u1ebd \u00e1p d\u1ee5ng \u201cl\u1eadp tr\u01b0\u1eddng trung l\u1eadp\u201d t\u1ea1i cu\u1ed9c h\u1ecdp b\u00e1o, th\u1eeba nh\u1eadn r\u1ee7i ro l\u1ea1m ph\u00e1t t\u0103ng do c\u00fa s\u1ed1c gi\u00e1 n\u0103ng l\u01b0\u1ee3ng, \u0111\u1ed3ng th\u1eddi nh\u1ea5n m\u1ea1nh nh\u1eefng b\u1ea5t \u1ed5n \u0111\u1ed1i v\u1edbi t\u0103ng tr\u01b0\u1edfng kinh t\u1ebf. Ngh\u1ec7 thu\u1eadt c\u00e2n b\u1eb1ng n\u00e0y \u0111\u01b0\u1ee3c ph\u1ea3n \u00e1nh \u0111\u1ea7y \u0111\u1ee7 qua k\u1ef3 v\u1ecdng c\u1ee7a th\u1ecb tr\u01b0\u1eddng: trong tu\u1ea7n qua, k\u1ef3 v\u1ecdng c\u1ee7a th\u1ecb tr\u01b0\u1eddng v\u1ec1 vi\u1ec7c c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t tr\u01b0\u1edbc cu\u1ed1i n\u0103m \u0111\u00e3 dao \u0111\u1ed9ng m\u1ea1nh t\u1eeb 25% \u0111\u1ebfn 60%.<\/p>\n

Ch\u1ee7 t\u1ecbch Ng\u00e2n h\u00e0ng Trung \u01b0\u01a1ng Ch\u00e2u \u00c2u Christine Lagarde g\u1ea7n \u0111\u00e2y \u0111\u00e3 b\u00e0y t\u1ecf m\u1ed1i lo ng\u1ea1i r\u00f5 r\u00e0ng v\u1ec1 s\u1ef1 b\u1ea5t \u1ed5n kinh t\u1ebf to\u00e0n c\u1ea7u v\u00e0 ACE Markets mong \u0111\u1ee3i b\u00e0 s\u1ebd nh\u1eafc l\u1ea1i l\u1eadp tr\u01b0\u1eddng n\u00e0y t\u1ea1i cu\u1ed9c h\u1ecdp h\u00f4m th\u1ee9 N\u0103m. Trong khi th\u1ecb tr\u01b0\u1eddng coi vi\u1ec7c t\u0103ng l\u00e3i su\u1ea5t v\u00e0o th\u00e1ng 6 c\u1ee7a ECB g\u1ea7n nh\u01b0 l\u00e0 \u0111i\u1ec1u ch\u1eafc ch\u1eafn, Lagarde c\u1ea7n truy\u1ec1n \u0111\u1ea1t m\u1ed9t cam k\u1ebft ch\u1eafc ch\u1eafn v\u1ec1 vi\u1ec7c ch\u1ed1ng l\u1ea1m ph\u00e1t m\u00e0 kh\u00f4ng g\u00e2y t\u1ed5n h\u1ea1i th\u00eam cho n\u1ec1n kinh t\u1ebf Eurozone v\u1ed1n \u0111\u00e3 mong manh. Ng\u00e2n h\u00e0ng Anh ph\u1ea3i \u0111\u1ed1i m\u1eb7t v\u1edbi t\u00ecnh tr\u1ea1ng l\u1ea1m ph\u00e1t th\u1eadm ch\u00ed c\u00f2n nghi\u00eam tr\u1ecdng h\u01a1n; Ch\u1ec9 s\u1ed1 CPI th\u00e1ng 3 c\u1ee7a n\u01b0\u1edbc n\u00e0y t\u0103ng cao h\u01a1n d\u1ef1 ki\u1ebfn, khi\u1ebfn th\u1ecb tr\u01b0\u1eddng ti\u1ec1n t\u1ec7 ph\u1ea3i \u0111i\u1ec1u ch\u1ec9nh l\u1ea1i k\u1ef3 v\u1ecdng v\u1ec1 vi\u1ec7c t\u0103ng l\u00e3i su\u1ea5t trong n\u0103m nay t\u1eeb ch\u1ec9 m\u1ed9t l\u00ean \u00edt nh\u1ea5t hai l\u1ea7n.<\/p>\n

\"\u5c40\u90e8\u622a\u53d6_20260427_154629\"<\/p>\n

<\/a>T\u1eeb n\u1ed7i lo l\u1ea1m ph\u00e1t \u0111\u1ebfn n\u1ed7i lo t\u0103ng tr\u01b0\u1edfng: M\u1ed9t b\u01b0\u1edbc ngo\u1eb7t ti\u1ec1m t\u00e0ng trong chu k\u1ef3 ch\u00ednh s\u00e1ch<\/strong><\/p>\n

Nh\u00f3m nghi\u00ean c\u1ee9u v\u0129 m\u00f4 c\u1ee7a ACE Markets tin r\u1eb1ng trong khi c\u00e1c ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng hi\u1ec7n \u0111ang t\u1eadp trung v\u00e0o m\u1ed1i \u0111e d\u1ecda l\u1ea1m ph\u00e1t, n\u1ebfu gi\u00e1 d\u1ea7u cao v\u00e0 \u00e1p l\u1ef1c \u0111\u1ecba ch\u00ednh tr\u1ecb b\u1eaft \u0111\u1ea7u l\u00e0m x\u00f3i m\u00f2n \u0111\u00e1ng k\u1ec3 nhu c\u1ea7u to\u00e0n c\u1ea7u, th\u1ecb tr\u01b0\u1eddng v\u00e0 c\u00e1c nh\u00e0 ho\u1ea1ch \u0111\u1ecbnh ch\u00ednh s\u00e1ch c\u00f3 th\u1ec3 ph\u1ea3i chuy\u1ec3n s\u1ef1 ch\u00fa \u00fd sang m\u1ed1i lo ng\u1ea1i v\u1ec1 t\u0103ng tr\u01b0\u1edfng kinh t\u1ebf. S\u1ef1 thay \u0111\u1ed5i tr\u1ecdng t\u00e2m n\u00e0y cu\u1ed1i c\u00f9ng c\u00f3 th\u1ec3 l\u00e0m gi\u1ea3m chi ph\u00ed \u0111i vay ch\u00ednh th\u1ee9c v\u00e0 th\u1ecb tr\u01b0\u1eddng, t\u1eeb \u0111\u00f3 b\u1eaft \u0111\u1ea7u m\u1ed9t chu k\u1ef3 ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 m\u1edbi.<\/p>\n

Nh\u01b0ng tr\u01b0\u1edbc \u0111\u00f3, c\u00e1c quan ch\u1ee9c ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng ph\u1ea3i th\u1ec3 hi\u1ec7n \u0111\u1ee7 quy\u1ebft t\u00e2m v\u1ec1 ch\u00ednh s\u00e1ch. Gi\u1ed1ng nh\u01b0 vi\u1ec7c \u0111\u00e1nh gi\u00e1 sai l\u1ea7m v\u1ec1 \u201cl\u1ea1m ph\u00e1t t\u1ea1m th\u1eddi\u201d trong th\u1eddi k\u1ef3 \u0111\u1ea1i d\u1ecbch khi\u1ebfn nhi\u1ec1u nh\u00e0 ho\u1ea1ch \u0111\u1ecbnh ch\u00ednh s\u00e1ch m\u1ea5t c\u1ea3nh gi\u00e1c, c\u00fa s\u1ed1c gi\u00e1 n\u0103ng l\u01b0\u1ee3ng hi\u1ec7n t\u1ea1i c\u0169ng \u0111\u1ea7y b\u1ea5t \u1ed5n t\u01b0\u01a1ng t\u1ef1. Gi\u00e1 d\u1ea7u s\u1ebd duy tr\u00ec \u1edf m\u1ee9c cao trong bao l\u00e2u? Hi\u1ec7u \u1ee9ng truy\u1ec1n t\u1ea3i l\u00ean l\u1ea1m ph\u00e1t c\u01a1 b\u1ea3n s\u1ebd m\u1ea1nh \u0111\u1ebfn m\u1ee9c n\u00e0o? C\u00e2u tr\u1ea3 l\u1eddi cho nh\u1eefng c\u00e2u h\u1ecfi n\u00e0y s\u1ebd tr\u1ef1c ti\u1ebfp x\u00e1c \u0111\u1ecbnh h\u01b0\u1edbng \u0111i c\u1ee7a ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 to\u00e0n c\u1ea7u trong nh\u1eefng th\u00e1ng t\u1edbi.<\/p>\n

ACE Markets k\u1ebft lu\u1eadn r\u1eb1ng th\u00f4ng \u0111i\u1ec7p r\u1ea5t c\u00f3 th\u1ec3 m\u00e0 c\u00e1c ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng \u0111ang truy\u1ec1n t\u1ea3i t\u1edbi th\u1ecb tr\u01b0\u1eddng trong tu\u1ea7n si\u00eau ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng n\u00e0y l\u00e0 gi\u1ecdng \u0111i\u1ec7u \u201cdi\u1ec1u h\u00e2u th\u1eadn tr\u1ecdng\u201d: v\u1eabn h\u1ebft s\u1ee9c c\u1ea3nh gi\u00e1c v\u1ec1 l\u1ea1m ph\u00e1t nh\u01b0ng kh\u00f4ng \u0111\u01b0a ra cam k\u1ebft r\u00f5 r\u00e0ng n\u00e0o v\u1ec1 c\u00e1c bi\u1ebfn \u0111\u1ed9ng l\u00e3i su\u1ea5t trong t\u01b0\u01a1ng lai. Quan \u0111i\u1ec3m c\u00f3 v\u1ebb m\u00e2u thu\u1eabn n\u00e0y ph\u1ea3n \u00e1nh ch\u00ednh x\u00e1c m\u1ee9c \u0111\u1ed9 b\u1ea5t \u1ed5n cao trong m\u00f4i tr\u01b0\u1eddng kinh t\u1ebf v\u0129 m\u00f4 hi\u1ec7n nay. C\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 c\u1ea7n l\u1eafng nghe c\u1ea9n th\u1eadn m\u1ecdi s\u1eafc th\u00e1i trong c\u00e1c tuy\u00ean b\u1ed1 ch\u00ednh s\u00e1ch, b\u1edfi v\u00ec l\u1ea7n n\u00e0y, ngh\u1ec7 thu\u1eadt c\u00e2n b\u1eb1ng c\u1ee7a ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng s\u1ebd th\u1ef1c s\u1ef1 \u0111\u01b0\u1ee3c th\u1eed th\u00e1ch\u2014kh\u00f4ng ch\u1ec9 gi\u1eefa l\u1ea1m ph\u00e1t v\u00e0 t\u0103ng tr\u01b0\u1edfng, m\u00e0 c\u00f2n gi\u1eefa logic t\u00e0i ch\u00ednh truy\u1ec1n th\u1ed1ng v\u00e0 th\u1ef1c t\u1ebf th\u1ecb tr\u01b0\u1eddng m\u1edbi n\u1ed5i.<\/p>","protected":false},"excerpt":{"rendered":"

Kh\u00e1m ph\u00e1 c\u00e1ch c\u00e1c quy\u1ebft \u0111\u1ecbnh c\u1ee7a ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng G7, r\u1ee7i ro l\u1ea1m ph\u00e1t v\u00e0 s\u1ef1 thay \u0111\u1ed5i c\u1ee7a th\u1ecb tr\u01b0\u1eddng v\u00e0ng \u0111ang \u0111\u1ecbnh h\u00ecnh l\u1ea1i ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 v\u00e0 chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0 to\u00e0n c\u1ea7u.<\/p>","protected":false},"author":1,"featured_media":9380,"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":[716,714,715],"class_list":["post-9379","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financial-news","tag-g7-central-bank-meetings","tag-global-monetary-policy-outlook","tag-inflation-vs-growth-dilemma"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.mdwcc.com\/vi\/wp-json\/wp\/v2\/posts\/9379","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.mdwcc.com\/vi\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.mdwcc.com\/vi\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.mdwcc.com\/vi\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.mdwcc.com\/vi\/wp-json\/wp\/v2\/comments?post=9379"}],"version-history":[{"count":1,"href":"https:\/\/www.mdwcc.com\/vi\/wp-json\/wp\/v2\/posts\/9379\/revisions"}],"predecessor-version":[{"id":9384,"href":"https:\/\/www.mdwcc.com\/vi\/wp-json\/wp\/v2\/posts\/9379\/revisions\/9384"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.mdwcc.com\/vi\/wp-json\/wp\/v2\/media\/9380"}],"wp:attachment":[{"href":"https:\/\/www.mdwcc.com\/vi\/wp-json\/wp\/v2\/media?parent=9379"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mdwcc.com\/vi\/wp-json\/wp\/v2\/categories?post=9379"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mdwcc.com\/vi\/wp-json\/wp\/v2\/tags?post=9379"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}