{"id":39516,"date":"2026-03-04T00:43:30","date_gmt":"2026-03-04T00:43:30","guid":{"rendered":"https:\/\/www.vtmarkets.com\/kr\/uncategorized\/%eb%85%b8%eb%ac%b4%eb%9d%bc%eb%8a%94-ecb%ea%b0%80-%ec%97%90%eb%84%88%ec%a7%80-%ec%a3%bc%eb%8f%84%ec%9d%98-%ec%8b%9c%ec%9e%a5-%eb%b3%80%eb%8f%99%ec%9d%80-%eb%ac%b4%ec%8b%9c%ed%95%98%ea%b3%a0-%ec%a0%84\/"},"modified":"2026-03-04T00:43:30","modified_gmt":"2026-03-04T00:43:30","slug":"%eb%85%b8%eb%ac%b4%eb%9d%bc%eb%8a%94-ecb%ea%b0%80-%ec%97%90%eb%84%88%ec%a7%80-%ec%a3%bc%eb%8f%84%ec%9d%98-%ec%8b%9c%ec%9e%a5-%eb%b3%80%eb%8f%99%ec%9d%80-%eb%ac%b4%ec%8b%9c%ed%95%98%ea%b3%a0-%ec%a0%84","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/kr-asia\/live-updates\/%eb%85%b8%eb%ac%b4%eb%9d%bc%eb%8a%94-ecb%ea%b0%80-%ec%97%90%eb%84%88%ec%a7%80-%ec%a3%bc%eb%8f%84%ec%9d%98-%ec%8b%9c%ec%9e%a5-%eb%b3%80%eb%8f%99%ec%9d%80-%eb%ac%b4%ec%8b%9c%ed%95%98%ea%b3%a0-%ec%a0%84\/","title":{"rendered":"\ub178\ubb34\ub77c\ub294 ECB\uac00 \uc5d0\ub108\uc9c0 \uc8fc\ub3c4\uc758 \uc2dc\uc7a5 \ubcc0\ub3d9\uc740 \ubb34\uc2dc\ud558\uace0, \uc804\ub9dd \uae30\uac04 \ub9d0\uc758 HICP(\uc870\ud654\uc18c\ube44\uc790\ubb3c\uac00\uc9c0\uc218) \uc804\ub9dd\uc5d0 \uc9d1\uc911\ud558\uba70 \uc815\ucc45\uc744 \uc548\uc815\uc801\uc73c\ub85c \uc720\uc9c0\ud560 \uac83\uc73c\ub85c \uc608\uc0c1\ud55c\ub2e4."},"content":{"rendered":"\ub178\ubb34\ub77c(Nomura) \uc560\ub110\ub9ac\uc2a4\ud2b8\ub4e4\uc740 \uc720\ub7fd\uc911\uc559\uc740\ud589(ECB)\uc774 \ucd5c\uadfc \uc5d0\ub108\uc9c0 \uac00\uaca9 \uae09\ub4f1\uc73c\ub85c \uc778\ud55c \uc2dc\uc7a5 \uc6c0\uc9c1\uc784\uc5d0 \uc989\uac01 \ubc18\uc751\ud558\uae30\ubcf4\ub2e4, \uc804\ub9dd \uae30\uac04 \ub9d0(\uc608\uce21\uc758 \ub9c8\uc9c0\ub9c9 \uc2dc\uc810)\uc758 HICP \ubb3c\uac00 \uc804\ub9dd\uc5d0 \ub354 \ucd08\uc810\uc744 \ub9de\ucd9c \uac83\uc73c\ub85c \ubcf8\ub2e4. \uc774\ub4e4\uc740 \uc6d0\uc720(\uc6d0\uc720: \uc815\uc81c\ub418\uc9c0 \uc54a\uc740 \uc11d\uc720)\uc640 \ucc9c\uc5f0\uac00\uc2a4 \uac00\uaca9(\ucc9c\uc5f0\uac00\uc2a4: \ub09c\ubc29\u00b7\ubc1c\uc804 \ub4f1\uc5d0 \uc4f0\uc774\ub294 \uc5f0\ub8cc)\uc774 \uc624\ub974\uba74, ECB\uac00 \uc608\uc0c1\ud558\ub294 \uc720\ub85c\uc874 \uc778\ud50c\ub808\uc774\uc158(\ubb3c\uac00\uc0c1\uc2b9) \uacbd\ub85c\uac00 \ub354 \ub192\uc544\uc9c8 \uc218 \uc788\ub2e4\uace0 \uc608\uc0c1\ud55c\ub2e4.\n\n\ub610\ud55c 1\uc6d4 HICP \uc778\ud50c\ub808\uc774\uc158\uc774 ECB \uc608\uc0c1\ubcf4\ub2e4 \ub0ae\uac8c \ub098\uc628 \uc810(\ud558\ubc29 \uc11c\ud504\ub77c\uc774\uc988: \uc608\uc0c1\ubcf4\ub2e4 \ub0ae\uac8c \ub098\uc628 \uacb0\uacfc)\uc774, \uc5d0\ub108\uc9c0 \uac00\uaca9 \uc0c1\uc2b9\uc73c\ub85c \uc804\ub9dd\uc774 \ub192\uc544\uc9c0\ub294 \ud6a8\uacfc\ub97c \uc77c\ubd80 \uc0c1\uc1c4\ud560 \uc218 \uc788\ub2e4\uace0 \ubcf8\ub2e4. \uc544\uc6b8\ub7ec ECB\uc758 12\uc6d4 \uc804\ub9dd\uc5d0\uc11c \uc720\ub85c\uc874 HICP \uc778\ud50c\ub808\uc774\uc158\uc774 2026\ub144 3\ubd84\uae30(Q3: 3\ubd84\uae30)\ubd80\ud130 2027\ub144 4\ubd84\uae30(Q4: 4\ubd84\uae30)\uae4c\uc9c0 \ubaa9\ud45c\uce58\ub97c \ubc11\ub3cc \uac83\uc73c\ub85c \ubd24\ub2e4\ub294 \uc810\ub3c4 \uc5b8\uae09\ud55c\ub2e4.\n\n

ECB Expected Rate Path<\/h3>\n\uc774\ub4e4\uc740 ECB\uac00 2026\ub144\uacfc 2027\ub144\uc5d0 \uae08\ub9ac\ub97c \uadf8\ub300\ub85c \ub458 \uac83\uc73c\ub85c \uc608\uc0c1\ud55c\ub2e4. \uadf8\ub4e4\uc758 \uad00\uc810\uc5d0\uc11c\ub294 2028\ub144\uc5d0 HICP \uc778\ud50c\ub808\uc774\uc158\uc774 \ubaa9\ud45c \uc218\uc900 \uadfc\ucc98\uc5d0 \uba38\ubb3c\ub3c4\ub85d \ud558\uae30 \uc704\ud574\uc11c\ub9cc \uae08\ub9ac \uc778\uc0c1(\uae08\ub9ac \uc778\uc0c1: \uc911\uc559\uc740\ud589\uc774 \uae30\uc900\uae08\ub9ac\ub97c \uc62c\ub9ac\ub294 \uac83)\uc774 \uc774\ub904\uc9c8 \uc218 \uc788\ub2e4\uace0 \ubcf8\ub2e4.\n\n\ub610\ud55c \uc774\ub4e4\uc740 \ubbf8\uad6d\/\uc774\uc2a4\ub77c\uc5d8\uacfc \uc774\ub780 \uac04 \uac08\ub4f1\uc744 \ub2e8\uae30 \uc704\ud5d8 \uc694\uc778\uc73c\ub85c \uaf3d\ub294\ub2e4. \uc774 \uac08\ub4f1\uc774 \uc6d0\uc720\u00b7\uac00\uc2a4 \uac00\uaca9\uc5d0 \uc601\ud5a5\uc744 \uc8fc\uc5b4 \uc778\ud50c\ub808\uc774\uc158\uc744 \ub354 \uc62c\ub9b4 \uc218 \uc788\uace0, \uadf8 \uacb0\uacfc \uae08\ub9ac \uc778\uc0c1 \uc2dc\uc810\uc774 \uc55e\ub2f9\uaca8\uc9c8 \uc218 \uc788\ub2e4\ub294 \uc758\ubbf8\ub2e4. \uc5d0\ub108\uc9c0 \uac00\uaca9 \uc6c0\uc9c1\uc784\uc774 \uc5bc\ub9c8\ub098 \uc624\ub798 \uc774\uc5b4\uc9c0\ub294\uc9c0(\uc9c0\uc18d\uc131: \ubcc0\ud654\uac00 \uc624\ub798 \uc720\uc9c0\ub418\ub294 \uc815\ub3c4)\uc5d0 \ub530\ub77c HICP \uc778\ud50c\ub808\uc774\uc158\uc73c\ub85c \uc804\uac00\ub418\ub294 \uaddc\ubaa8(\uc804\uac00: \ube44\uc6a9 \uc0c1\uc2b9\uc774 \ubb3c\uac00\uc5d0 \ubc18\uc601\ub418\ub294 \uac83)\uac00 \ub2ec\ub77c\uc9c8 \uc218 \uc788\ub2e4\uace0 \ub367\ubd99\uc774\uba70, \uc720\ub85c\uc874 \uc778\ud50c\ub808\uc774\uc158 \uad00\ub828 \uc2dc\uc7a5 \uac00\uaca9\uc774 \uc77c\ubd80 \ub418\ub3cc\ub9bc(\ub418\ub3cc\ub9bc: \uae09\ub4f1 \ud6c4 \uc77c\ubd80 \ud558\ub77d)\uc774 \uc788\uc5c8\ub2e4\uace0\ub3c4 \uc9c0\uc801\ud55c\ub2e4.\n\n

Volatility And Market Positioning<\/h3>\n\ub0b4\uc7ac\ubcc0\ub3d9\uc131(\ub0b4\uc7ac\ubcc0\ub3d9\uc131: \uc635\uc158 \uac00\uaca9\uc5d0 \ubc18\uc601\ub41c \u2018\uc55e\uc73c\ub85c\uc758 \ubcc0\ub3d9\uc131 \uc608\uc0c1\uce58\u2019)\uc740 \ud2b9\ud788 \uc720\ub85c\uc874 \uc8fc\uc2dd\u00b7\ucc44\uad8c \uc2dc\uc7a5\uc5d0\uc11c \uac08\ub4f1 \ub274\uc2a4\ub85c \ub108\ubb34 \ube60\ub974\uac8c \ub192\uc544\uc84c\uc744 \uac00\ub2a5\uc131\uc774 \uc788\ub2e4. \ube0c\ub80c\ud2b8\uc720(\ube0c\ub80c\ud2b8\uc720: \uad6d\uc81c \uc720\uac00 \uae30\uc900 \uc911 \ud558\ub098)\uac00 2026\ub144 2\uc6d4 \ub9d0 \ubc30\ub7f4\ub2f9 95\ub2ec\ub7ec\ub97c \ub118\uc5c8\ub358 \uace0\uc810\uc5d0\uc11c \uc57d 88\ub2ec\ub7ec \uc218\uc900\uc73c\ub85c \ub0b4\ub824\uc628 \ub9cc\ud07c, \uc720\ub85c\uc2a4\ud1a1\uc2a4 50 \uc635\uc158(Euro Stoxx 50 \uc635\uc158: \uc720\ub85c\uc874 \ub300\ud45c \uc8fc\uac00\uc9c0\uc218\uc5d0 \ub300\ud55c \uc635\uc158) \uac19\uc740 \uc0c1\ud488\uc5d0\uc11c \ubcc0\ub3d9\uc131\uc744 \ub9e4\ub3c4(\ubcc0\ub3d9\uc131 \ub9e4\ub3c4: \ubcc0\ub3d9\uc131\uc774 \ub0ae\uc544\uc9c8 \ub54c \uc720\ub9ac\ud55c \uc635\uc158 \ub9e4\ub9e4 \uc804\ub7b5)\ud558\ub294 \uac83\uc774 \uc720\ub9ac\ud560 \uc218 \uc788\ub2e4. \uc774 \uc804\ub7b5\uc740 ECB\uac00 \uc2dc\uc7a5\uc744 \uc548\uc815\uc2dc\ud0a4\uba70 \ud5a5\ud6c4 \uba87 \uc8fc \ub3d9\uc548 \ubcc0\ub3d9\uc131\uc774 \uc904\uc5b4\ub4dc\ub294 \ucabd\uc5d0 \ubca0\ud305\ud55c\ub2e4.\n\nECB\uac00 \ub2e4\ub978 \uc911\uc559\uc740\ud589\ub4e4\uacfc \ub2ec\ub9ac \ucc9c\ucc9c\ud788 \uc6c0\uc9c1\uc774\uba74, \uc720\ub85c\ud654\uc5d0 \uc644\ub9cc\ud55c \uc57d\uc138 \uc555\ub825\uc774 \uc0dd\uae38 \uc218 \uc788\ub2e4. \ub530\ub77c\uc11c EUR\/USD \ud658\uc728(\uc720\ub85c\/\ub2ec\ub7ec \ud658\uc728)\uc774 \uc548\uc815\uc801\uc774\uac70\ub098 \uc57d\uac04 \uc57d\ud574\uc9c8 \ub54c \uc774\uc775\uc744 \uc5bb\ub294 \ud1b5\ud654 \ud30c\uc0dd\uc0c1\ud488 \uc804\ub7b5(\ud1b5\ud654 \ud30c\uc0dd\uc0c1\ud488: \ud658\uc728 \ubcc0\ub3d9\uc5d0 \uc5f0\ub3d9\ub41c \uacc4\uc57d)\uc744 \uace0\ub824\ud560 \ub9cc\ud558\ub2e4. \uc774 \uad00\uc810\uc758 \uac00\uc7a5 \ud070 \uc704\ud5d8\uc740 \uac08\ub4f1\uc774 \ud06c\uac8c, \uadf8\ub9ac\uace0 \uc624\ub798 \uc545\ud654\ub418\uc5b4 \uc5d0\ub108\uc9c0 \uac00\uaca9\uc774 100\ub2ec\ub7ec \uc704\uc5d0\uc11c \uacc4\uc18d \uc720\uc9c0\ub418\ub294 \uc0c1\ud669\uc774\ub2e4.\n\n\uacb0\uad6d \ud655\uc778\ud574\uc57c \ud560 \ud575\uc2ec \ubcc0\uc218\ub294 \ud604\uc7ac \uc5d0\ub108\uc9c0 \uac00\uaca9 \uc218\uc900\uc774 \uc9c0\uc18d\ub418\ub294\uc9c0 \uc5ec\ubd80\ub2e4. \ub2e8\uae30 \uae09\ub4f1\uc740 \ubb34\uc2dc\ud560 \uc218 \uc788\uc9c0\ub9cc, 2022\ub144 \uc778\ud50c\ub808\uc774\uc158 \uad6d\uba74\uc5d0\uc11c \ubd24\ub4ef \uc5d0\ub108\uc9c0 \ube44\uc6a9\uc774 \uc5ec\ub7ec \ub2ec \ub3d9\uc548 \ub192\uac8c \uc720\uc9c0\ub418\uba74 \uacb0\uad6d \uadfc\uc6d0 \ubb3c\uac00(\uadfc\uc6d0 \ubb3c\uac00: \uc5d0\ub108\uc9c0\u00b7\uc2dd\ud488\ucc98\ub7fc \ubcc0\ub3d9\uc774 \ud070 \ud488\ubaa9\uc744 \uc81c\uc678\ud55c \ubb3c\uac00)\uc5d0\uae4c\uc9c0 \uc601\ud5a5\uc744 \uc900\ub2e4. \uadf8\ub807\uac8c \ub418\uba74 ECB\ub294 \uc9c0\uae08\uc758 \u2018\uae30\ub2e4\ub9ac\ub294\u2019 \ud0dc\ub3c4\ub97c \ub2e4\uc2dc \uc0dd\uac01\ud574\uc57c \ud558\uace0, 2028\ub144\uc774\ub77c\ub294 \uae30\ubcf8 \uc2dc\ub098\ub9ac\uc624(\uae30\ubcf8 \uc2dc\ub098\ub9ac\uc624: \uac00\uc7a5 \uac00\ub2a5\uc131\uc774 \ub192\ub2e4\uace0 \ubcf4\ub294 \uae30\uc900 \uc804\ub9dd)\ubcf4\ub2e4 \ub354 \ube68\ub9ac \uc6c0\uc9c1\uc77c \uc218 \uc788\ub2e4.\n\n\n

VT Markets \ub77c\uc774\ube0c \uacc4\uc815\uc744 \ub9cc\ub4e4\uace0 \uc9c0\uae08 \ubc14\ub85c \uac70\ub798<\/a>\ub97c \uc2dc\uc791\ud558\uc138\uc694.<\/b><\/p>\n","protected":false},"excerpt":{"rendered":"

\uc5d0\ub108\uc9c0 \uae09\ub4f1\uc5d0\ub3c4 ECB\ub294 \uc7a5\uae30 HICP \uc804\ub9dd\uc5d0 \uc9d1\uc911\ud558\uba70 2026~27 \uae08\ub9ac \ub3d9\uacb0 \uc804\ub9dd. \uc720\uac00\u00b7\uac00\uc2a4 \uc0c1\uc2b9\uc740 \ubb3c\uac00\uacbd\ub85c \uc0c1\ud5a5, \ubd84\uc7c1 \uaca9\ud654 \uc2dc \uc778\uc0c1 \uc2dc\uc810 \uc55e\ub2f9\uae40 \uac00\ub2a5. – vtmarkets.com<\/p>\n","protected":false},"author":103,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[71],"tags":[],"class_list":["post-39516","post","type-post","status-publish","format-standard","hentry","category-live-updates"],"acf":{"acf_article_selection_author":null},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/posts\/39516","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/users\/103"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/comments?post=39516"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/posts\/39516\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/media?parent=39516"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/categories?post=39516"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/tags?post=39516"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}