{"id":42308,"date":"2026-03-25T09:38:09","date_gmt":"2026-03-25T09:38:09","guid":{"rendered":"https:\/\/www.vtmarkets.com\/kr\/uncategorized\/inging-%ec%9d%b4%ec%bd%94%eb%85%b8%eb%af%b8%ec%8a%a4%ed%8a%b8%eb%93%a4-nbh-%ea%b8%b0%ec%a4%80%ea%b8%88%eb%a6%ac-6-25-%eb%8f%99%ea%b2%b0%ec%a4%91%eb%8f%99-%ec%a0%84%ec%9f%81\/"},"modified":"2026-03-25T09:38:09","modified_gmt":"2026-03-25T09:38:09","slug":"inging-%ec%9d%b4%ec%bd%94%eb%85%b8%eb%af%b8%ec%8a%a4%ed%8a%b8%eb%93%a4-nbh-%ea%b8%b0%ec%a4%80%ea%b8%88%eb%a6%ac-6-25-%eb%8f%99%ea%b2%b0%ec%a4%91%eb%8f%99-%ec%a0%84%ec%9f%81","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/kr-asia\/live-updates\/inging-%ec%9d%b4%ec%bd%94%eb%85%b8%eb%af%b8%ec%8a%a4%ed%8a%b8%eb%93%a4-nbh-%ea%b8%b0%ec%a4%80%ea%b8%88%eb%a6%ac-6-25-%eb%8f%99%ea%b2%b0%ec%a4%91%eb%8f%99-%ec%a0%84%ec%9f%81\/","title":{"rendered":"INGING \uc774\ucf54\ub178\ubbf8\uc2a4\ud2b8\ub4e4 \u201cNBH, \uae30\uc900\uae08\ub9ac 6.25% \ub3d9\uacb0\u2026\uc911\ub3d9 \uc804\uc7c1 \uc774\ud6c4 \ub9e4\ud30c\uc801 \uae30\uc870\ub85c \uc804\ud658\ud558\uba70 \uc644\ud654 \uae30\ub300 \uc5b5\uc81c\u201d"},"content":{"rendered":"ING\uc758 \ud53c\ud130 \ube44\ub85c\ubc14\uce20\uc640 \uc878\ud0c4 \ud638\ubab0\uc57c \uc774\ucf54\ub178\ubbf8\uc2a4\ud2b8\ub294 \ud5dd\uac00\ub9ac \uc911\uc559\uc740\ud589(NBH\u00b7\ub9c8\uc800\ub974 \ub124\ubbc0\uc81c\ud2f0 \ubc29\ud06c)\uc774 2026\ub144 3\uc6d4 24\uc77c \uae30\uc900\uae08\ub9ac\ub97c 6.25%\ub85c \ub3d9\uacb0\ud588\ub2e4\uace0 \ubc1d\ud614\ub2e4. \uc774\ub4e4\uc740 \uc911\ub3d9 \uc804\uc7c1\uacfc \uc774\uc5d0 \ub530\ub978 \uc2dc\uc7a5 \ud63c\ub780 \uc774\ud6c4 \uc911\uc559\uc740\ud589\uc774 \uc778\ud50c\ub808\uc774\uc158 \uc5b5\uc81c\uc5d0 \ub354 \ubb34\uac8c\ub97c \ub450\ub294 \u2018\ub9e4\ud30c\uc801(hawkish\u00b7\ubb3c\uac00 \uc0c1\uc2b9\uc744 \ub9c9\uae30 \uc704\ud574 \uae08\ub9ac \uc778\uc0c1 \ub4f1 \uae34\ucd95\uc744 \uc120\ud638\ud558\ub294) \ud0dc\ub3c4\u2019\ub85c \ub3cc\uc544\uc130\ub2e4\uace0 \ubd84\uc11d\ud588\ub2e4.\n\n\ub610 2\uc6d4 \u2018\ud5e4\ub4dc\ub77c\uc778 \uc778\ud50c\ub808\uc774\uc158(headline inflation\u00b7\uc5d0\ub108\uc9c0\u00b7\uc2dd\ud488\uc744 \ud3ec\ud568\ud55c \uc804\uccb4 \uc18c\ube44\uc790\ubb3c\uac00 \uc0c1\uc2b9\ub960)\u2019\uc774 10\ub144\ub798 \ucd5c\uc800\ub85c \ub0b4\ub824\uac00, \ud574\uc678\ubc1c \uac00\uaca9 \ucda9\uaca9(\uc678\ubd80 \uac00\uaca9 \ucda9\uaca9\u00b7\uad6d\uc81c \uc720\uac00 \uae09\ub4f1 \ub4f1\uc73c\ub85c \uad6d\ub0b4 \ubb3c\uac00\uac00 \uc624\ub974\ub294 \ud604\uc0c1)\uc5d0 \ub300\uc751\ud558\uae30 \uc720\ub9ac\ud55c \ucd9c\ubc1c\uc810\uc774\ub77c\uace0 \ud3c9\uac00\ud588\ub2e4. \uc5d0\ub108\uc9c0 \uac00\uaca9\uc5d0 \ub300\ud55c \uae30\ubcf8 \uc2dc\ub098\ub9ac\uc624(\uac00\uc7a5 \uac00\ub2a5\uc131\uc774 \ub192\ub2e4\uace0 \ubcf4\ub294 \uc804\ub9dd)\uc5d0\uc11c\ub294 \uc778\ud50c\ub808\uc774\uc158\uc774 \uc77c\uc2dc\uc801\uc73c\ub85c \ubc18\ub4f1\ud55c \ub4a4, \ud558\ubc18\uae30\uc5d0\ub294 \uc57d 4% \uc218\uc900\uc5d0\uc11c \uc548\uc815\ub420 \uac83\uc73c\ub85c \uc608\uc0c1\ud588\ub2e4.\n\n

National Bank Of Hungary Holds Rate<\/h3>\n\uc774\ub4e4\uc740 \uae30\ubcf8 \uc2dc\ub098\ub9ac\uc624\uc758 \ud655\ub960\uc744 40%\ub85c \uc81c\uc2dc\ud558\uba70, \uc5d0\ub108\uc9c0 \uc601\ud5a5\uc774 \uc57d\ud574\uc9c0\uba74 \ubb3c\uac00\uac00 NBH \ud5c8\uc6a9 \ubc94\uc704(\uc911\uc559\uc740\ud589\uc774 \ubaa9\ud45c\uc5d0 \uac00\uae5d\ub2e4\uace0 \ubcf4\ub294 \ubb3c\uac00 \ubcc0\ub3d9 \uad6c\uac04) \uc548\uc5d0 \uba38\ubb3c \uc218 \uc788\ub2e4\uace0 \ubd24\ub2e4. \ub610\ud55c \uc774 \uc2dc\ub098\ub9ac\uc624\uc5d0\uc11c\ub294 \uc5ec\ub984 \ubb34\ub835 \ud638\ub974\ubb34\uc988 \ud574\ud611\uc758 \uc120\ubc15 \ud1b5\ud56d\uc774 \uc815\uc0c1\ud654\ub420 \uac83\uc73c\ub85c \uc608\uc0c1\ud588\ub2e4.\n\n\uc774 \uacbd\ub85c\ub77c\uba74 3\ubd84\uae30 \ub9d0(3\ubd84\uae30 \ud6c4\ubc18) \uae08\ub9ac \uc778\ud558 \uc5ec\uc9c0\uac00 \uc0dd\uae30\uba70, \uc5f0\ub9d0 \uae30\uc900\uae08\ub9ac\ub294 6.00%\uac00 \ub420 \uac83\uc73c\ub85c \uc804\ub9dd\ud588\ub2e4. \ubc18\uba74 \u2018\uc7a5\uae30\uc804\u2019 \uc2dc\ub098\ub9ac\uc624(\uc804\uc7c1\uc774 \uae38\uc5b4\uc9c0\ub294 \uacbd\uc6b0)\uc5d0\ub294 30%\uc758 \ud655\ub960\uc744 \ubd80\uc5ec\ud588\uace0, \uc774 \uacbd\uc6b0 \ud3ec\ub9b0\ud2b8\ud654(\ud5dd\uac00\ub9ac \ud1b5\ud654)\ub97c \ubc29\uc5b4\ud558\ub824\uba74 \ucd94\uac00\uc801\uc778 \uc815\ucc45 \uc9c0\uc6d0\uc774 \ud544\uc694\ud574 NBH\uac00 ECB(\uc720\ub7fd\uc911\uc559\uc740\ud589)\uc640 \ubcf4\uc870\ub97c \ub9de\ucdb0 \ud5a5\ud6c4 \uba87 \ubd84\uae30 \uc548\uc5d0 \ub450 \ucc28\ub840 \uae08\ub9ac\ub97c \uc62c\ub9b4 \uc218 \uc788\ub2e4\uace0 \ub0b4\ub2e4\ubd24\ub2e4.\n\n\ud5dd\uac00\ub9ac \uc911\uc559\uc740\ud589\uc758 \uae30\uc900\uae08\ub9ac 6.25% \ub3d9\uacb0\uc740 \uc911\ub3d9 \uc804\uc7c1\uc73c\ub85c \uc778\ud574 \ubcf4\ub2e4 \uc2e0\uc911\ud55c(\ub9ac\uc2a4\ud06c\ub97c \uc6b0\uc120 \ubc18\uc601\ud558\ub294) \uae30\uc870\ub85c \uc804\ud658\ud588\uc74c\uc744 \ubcf4\uc5ec\uc900\ub2e4. \uc774\ub294 \uc2dc\uc7a5 \uc608\uc0c1\uacfc \ub300\uccb4\ub85c \ubd80\ud569\ud588\uc9c0\ub9cc, 2025\ub144 \ub0b4\ub0b4 \uc774\uc5b4\uc84c\ub358 \uae08\ub9ac \uc778\ud558 \ud750\ub984\uc5d0 \uc81c\ub3d9\uc774 \uac78\ub838\ub2e4\ub294 \ub73b\uc774\uae30\ub3c4 \ud558\ub2e4. \uadf8 \uacb0\uacfc \ud5a5\ud6c4 \uc218 \uc8fc \ub3d9\uc548 \uc2dc\uc7a5 \ubd88\ud655\uc2e4\uc131\uc774 \ucee4\uc9c8 \uc218 \uc788\ub2e4.\n\n

Market Focus Shifts To Risk<\/h3>\n2\uc6d4 \ud5e4\ub4dc\ub77c\uc778 \uc778\ud50c\ub808\uc774\uc158\uc774 3.5%\ub85c 10\ub144\ub798 \ucd5c\uc800\ub97c \uae30\ub85d\ud574 \ud574\uc678\ubc1c \uac00\uaca9 \ucda9\uaca9\uc744 \ud761\uc218\ud560 \u2018\uc644\ucda9 \uc5ed\ud560(\ucda9\uaca9\uc744 \ub35c \ubc1b\uac8c \ud574\uc8fc\ub294 \uc5ec\ub825)\u2019\uc774 \uc0dd\uacbc\ub2e4. \ub2e4\ub9cc \ucd5c\uadfc \ube0c\ub80c\ud2b8\uc720(Brent crude\u00b7\uad6d\uc81c\uc720\uac00 \ub300\ud45c \uc9c0\ud45c \uc911 \ud558\ub098)\uac00 \ubc30\ub7f4\ub2f9 110\ub2ec\ub7ec\ub97c \ub118\uc5b4\uc11c\uba70 \uc911\uc559\uc740\ud589\uc758 \ub9e4\ud30c\uc801 \uae30\uc870\ub97c \uc124\uba85\ud55c\ub2e4. \uc2dc\uc7a5\uc740 \uc5d0\ub108\uc9c0 \ucda9\uaca9\uc774 \ubb3c\uac00\ub97c \ub2e4\uc2dc \ubc00\uc5b4\uc62c\ub9b4\uc9c0, \uc544\ub2c8\uba74 \uad6d\ub0b4 \ubb3c\uac00 \uc555\ub825\uc774 \ub454\ud654\ub418\ub294 \ud750\ub984\uc774 \uc774\ub97c \uc0c1\uc1c4\ud560\uc9c0\ub97c \uc800\uc6b8\uc9c8\ud558\uace0 \uc788\ub2e4.\n\n\ud3ec\ub9b0\ud2b8\ud654\ub294 \uc9c0\ub09c\uc8fc \uc720\ub85c\ub2f9 405\ub97c \ub118\uc5b4 \uc57d\uc138\ub97c \ubcf4\uc774\uba70 \ubd88\uc548 \uc870\uc9d0\uc744 \ub4dc\ub7ec\ub0c8\ub2e4. \uc774\ub294 2022\ub144\uc758 \uae09\uaca9\ud55c \ud658\uc728 \ubcc0\ub3d9\uc744 \ub5a0\uc62c\ub9ac\uac8c \ud55c\ub2e4. \ud1b5\ud654 \uc57d\uc138\uac00 \uc911\uc559\uc740\ud589\uc758 \uac15\uacbd\ud55c \ud0dc\ub3c4\ub97c \uc774\ub044\ub294 \ud575\uc2ec \uc694\uc778\uc77c \uac00\ub2a5\uc131\uc774 \ud06c\ub2e4. \ub2f9\uc2dc\uc5d0\ub294 \uc5d0\ub108\uc9c0 \ucda9\uaca9\uc73c\ub85c \ubb3c\uac00\uac00 \ub450 \uc790\ub9bf\uc218\uae4c\uc9c0 \uce58\uc19f\uc558\uace0, \uc911\uc559\uc740\ud589\uc774 \ud070 \ud3ed\uc73c\ub85c \uae08\ub9ac\ub97c \uc62c\ub9ac\ub294 \uac15\ud55c \uae34\ucd95\uc5d0 \ub098\uc130\ub2e4.\n\n\uc5f0\ub0b4 \uae08\ub9ac \uc778\ud558 \uac00\ub2a5\uc131\uacfc \uae08\ub9ac \uc778\uc0c1 \uc704\ud5d8\uc774 \ub3d9\uc2dc\uc5d0 \uc874\uc7ac\ud558\uba74\uc11c \ubcc0\ub3d9\uc131\uc774 \ucee4\uc9c0\uae30 \uc26c\uc6b4 \uad6d\uba74\uc774 \ud615\uc131\ub410\ub2e4. \ud2b8\ub808\uc774\ub354\ub294 EUR\/HUF(\uc720\ub85c\/\ud5dd\uac00\ub9ac \ud3ec\ub9b0\ud2b8) \ud658\uc728\uc5d0\uc11c \uc591\ubc29\ud5a5 \ud070 \ubcc0\ub3d9\uc5d0\uc11c \uc218\uc775\uc744 \ub178\ub9ac\ub294 \u2018\uc591\ub9e4\uc218(straddle\u00b7\uac19\uc740 \ub9cc\uae30\uc640 \ud589\uc0ac\uac00\ub85c \ucf5c\uc635\uc158\uacfc \ud48b\uc635\uc158\uc744 \ub3d9\uc2dc\uc5d0 \uc0ac\ub294 \uc804\ub7b5)\u2019 \uac19\uc740 \uc635\uc158 \uc804\ub7b5\uc744 \uac80\ud1a0\ud560 \uc218 \uc788\ub2e4. \u2018\ub0b4\uc7ac \ubcc0\ub3d9\uc131(implied volatility\u00b7\uc635\uc158 \uac00\uaca9\uc5d0 \ubc18\uc601\ub41c \uc2dc\uc7a5\uc758 \uc608\uc0c1 \ubcc0\ub3d9\uc131)\u2019\uc740 \ucd5c\uadfc 2\uc8fc \ub3d9\uc548 15% \uc0c1\uc2b9\ud574 \uc774\ub7f0 \ubd88\ud655\uc2e4\uc131\uc744 \ubc18\uc601\ud558\uace0 \uc788\ub2e4.\n\nFRA(Forward Rate Agreement\u00b7\ubbf8\ub798\uc758 \ud2b9\uc815 \uae30\uac04\uc5d0 \uc801\uc6a9\ub420 \uae08\ub9ac\ub97c \ubbf8\ub9ac \uace0\uc815\ud558\ub294 \uc7a5\uc678 \uae08\ub9ac \uacc4\uc57d) \uc2dc\uc7a5\uc740 3\ubd84\uae30 \ub9d0\uae4c\uc9c0 25bp(basis point\u00b71bp=0.01%\ud3ec\uc778\ud2b8) \uae08\ub9ac \uc778\ud558 \uac00\ub2a5\uc131\uc744 \uc57d 40%\ub85c \ubc18\uc601\ud558\uace0 \uc788\ub2e4. \uc774\ub294 \ud55c \ub2ec \uc804 \uc57d 70%\uc5d0\uc11c \ud06c\uac8c \ub0ae\uc544\uc9c4 \uac83\uc73c\ub85c, \ucc38\uac00\uc790\ub4e4\uc774 \ud1b5\ud654\uc815\ucc45 \uacbd\ub85c(\uae08\ub9ac\uac00 \uc5b4\ub5bb\uac8c \uc6c0\uc9c1\uc77c\uc9c0\uc5d0 \ub300\ud55c \uc804\ub9dd)\ub97c \ube60\ub974\uac8c \ub2e4\uc2dc \ud3c9\uac00\ud558\uace0 \uc788\uc74c\uc744 \ub73b\ud55c\ub2e4. \uad00\uac74\uc740 \uc5d0\ub108\uc9c0 \uc2dc\uc7a5 \ud750\ub984\uacfc \ud638\ub974\ubb34\uc988 \ud574\ud611 \uc120\ubc15 \uc6b4\ud56d \uad00\ub828 \ub274\uc2a4\ub2e4.\n\n\uc5ec\ub984\uae4c\uc9c0 \uae34\uc7a5\uc774 \uc644\ud654\ub41c\ub2e4\uace0 \ubcf8\ub2e4\uba74, \uae08\ub9ac \uc2a4\uc651(interest rate swap\u00b7\ubcc0\ub3d9\uae08\ub9ac\uc640 \uace0\uc815\uae08\ub9ac\ub97c \uc11c\ub85c \uad50\ud658\ud558\ub294 \uacc4\uc57d)\uc744 \ud1b5\ud574 2026\ub144 \ub9d0 \uae08\ub9ac \uc778\ud558\ub97c \uaca8\ub0e5\ud55c \ud3ec\uc9c0\uc158\uc774 \uc720\ub9ac\ud560 \uc218 \uc788\ub2e4. \ubc18\ub300\ub85c \uac08\ub4f1\uc774 \uc7a5\uae30\ud654\ub41c\ub2e4\uba74 \uc2dc\uc7a5\uc740 \ud3ec\ub9b0\ud2b8 \ubc29\uc5b4\ub97c \uc704\ud55c \uae08\ub9ac \uc778\uc0c1\uc744 \ub354 \ubc18\uc601\ud560 \uc218 \uc788\ub2e4. \uc774 \uacbd\uc6b0 \ub2e8\uae30 \uc2a4\uc651\uc5d0\uc11c \u2018\uace0\uc815\uae08\ub9ac \uc9c0\uae09(pay fixed\u00b7\uace0\uc815\uae08\ub9ac\ub97c \ub0b4\uace0 \ubcc0\ub3d9\uae08\ub9ac\ub97c \ubc1b\ub294 \ud3ec\uc9c0\uc158)\u2019\uc73c\ub85c \uc911\uc559\uc740\ud589\uc758 \ucd94\uac00 \uae34\ucd95 \uc704\ud5d8\uc744 \ud5e4\uc9c0(hedge\u00b7\uc190\uc2e4 \uc704\ud5d8\uc744 \uc904\uc774\uae30 \uc704\ud55c \ubc29\uc5b4 \uac70\ub798)\ud558\ub294 \uc804\ub7b5\uc774 \uac70\ub860\ub41c\ub2e4.\n

\n\n

\uc9c0\uae08 \ubc14\ub85c \uac70\ub798\ub97c \uc2dc\uc791\ud558\uc138\uc694 – VT Markets \uc2e4\uacc4\uc88c\ub97c \uac1c\uc124\ud558\ub824\uba74 \uc5ec\uae30<\/a>\ub97c \ud074\ub9ad\ud558\uc138\uc694 <\/strong> <\/p>\n","protected":false},"excerpt":{"rendered":"

\ud5dd\uac00\ub9ac \uc911\uc559\uc740\ud589, \uae30\uc900\uae08\ub9ac 6.25% \ub3d9\uacb0\u2026\uc911\ub3d9\uc804\uc7c1\uc5d0 \u2018\ub9e4\ud30c\u2019 \ud68c\uadc0. \ubb3c\uac00 10\ub144 \ucd5c\uc800\uc5d0\ub3c4 \uc720\uac00\u00b7\ud3ec\ub9b0\ud2b8 \uc57d\uc138 \ubd80\ub2f4. 3\ubd84\uae30 \uc778\ud558 \uc5ec\uc9c0 vs \ucd94\uac00 \uc778\uc0c1 \ub9ac\uc2a4\ud06c \uacf5\uc874.<\/p>\n","protected":false},"author":87,"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-42308","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\/42308","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\/87"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/comments?post=42308"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/posts\/42308\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/media?parent=42308"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/categories?post=42308"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/tags?post=42308"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}