{"id":49824,"date":"2026-06-18T15:22:52","date_gmt":"2026-06-18T15:22:52","guid":{"rendered":"https:\/\/www.vtmarkets.com\/kr\/uncategorized\/%eb%85%b8%eb%a5%b4%ec%9b%a8%ec%9d%b4-%ec%a4%91%ec%95%99%ec%9d%80%ed%96%89-%ea%b8%b0%ec%a4%80%ea%b8%88%eb%a6%ac-4-25-%eb%8f%99%ea%b2%b0%ea%b8%88%eb%a6%ac-%ec%a0%95%ec%a0%90-4-55-%ec%a0%84\/"},"modified":"2026-06-18T15:22:52","modified_gmt":"2026-06-18T15:22:52","slug":"%eb%85%b8%eb%a5%b4%ec%9b%a8%ec%9d%b4-%ec%a4%91%ec%95%99%ec%9d%80%ed%96%89-%ea%b8%b0%ec%a4%80%ea%b8%88%eb%a6%ac-4-25-%eb%8f%99%ea%b2%b0%ea%b8%88%eb%a6%ac-%ec%a0%95%ec%a0%90-4-55-%ec%a0%84","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/kr-asia\/live-updates\/%eb%85%b8%eb%a5%b4%ec%9b%a8%ec%9d%b4-%ec%a4%91%ec%95%99%ec%9d%80%ed%96%89-%ea%b8%b0%ec%a4%80%ea%b8%88%eb%a6%ac-4-25-%eb%8f%99%ea%b2%b0%ea%b8%88%eb%a6%ac-%ec%a0%95%ec%a0%90-4-55-%ec%a0%84\/","title":{"rendered":"\ub178\ub974\uc6e8\uc774 \uc911\uc559\uc740\ud589, \uae30\uc900\uae08\ub9ac 4.25% \ub3d9\uacb0\u2026\uae08\ub9ac \uc815\uc810 4.55% \uc804\ub9dd \uc18d \ucd94\uac00 \uae34\ucd95 \uc2dc\uc0ac"},"content":{"rendered":"<p>\ub178\ub974\uc6e8\uc774 \uc911\uc559\uc740\ud589(\ub178\ub974\uac8c\uc2a4\ubc29\ud06c)\uc740 \uae30\uc900\uae08\ub9ac\ub97c 4.25%\ub85c \ub3d9\uacb0\ud558\uace0, \ud5a5\ud6c4 \ud1b5\ud654\uc815\ucc45 \ud68c\uc758 \uc911 \ud55c \ucc28\ub840 \ucd94\uac00 \uc778\uc0c1\uc774 \ud544\uc694\ud560 \uac00\ub2a5\uc131\uc774 \ub192\ub2e4\ub294 \uae30\uc874 \uac00\uc774\ub358\uc2a4\ub97c \uc7ac\ud655\uc778\ud588\ub2e4. \uc774\ubc88 \uacb0\uc815\uc740 \uc2dc\uc7a5\uc758 \ub300\uccb4\uc801 \uc608\uc0c1\uc5d0 \ubd80\ud569\ud588\uc9c0\ub9cc, \uae34\ucd95 \ud3b8\ud5a5\uc744 \uc720\uc9c0\ud558\uba70 \ub9e4\ud30c\uc801 \ud1a4\uc744 \uc774\uc5b4\uac14\ub2e4\ub294 \uc810\uc5d0\uc11c \ucee4\ubba4\ub2c8\ucf00\uc774\uc158\uc740 \uc5ec\uc804\ud788 \uac15\uacbd\ud588\ub2e4. \ube0c\ub77c\uc6b4\ube0c\ub77c\ub354\uc2a4\ud574\ub9ac\uba3c(BBH)\uc740 \uc774\ub97c \u2018\ub9e4\ud30c\uc801 \ub3d9\uacb0(hawkish hold)\u2019\ub85c \ud3c9\uac00\ud558\uba70 \ub178\ub974\uc6e8\uc774 \ud06c\ub85c\ub124(NOK)\uc5d0 \uc77c\ubd80 \uc9c0\uc9c0 \uc694\uc778\uc774 \ub420 \uc218 \uc788\ub2e4\uace0 \ubd24\uc9c0\ub9cc, \ud658\uc728 \uc601\ud5a5\uc740 \uc81c\ud55c\uc801\uc77c \uac83\uc774\ub77c\ub294 \ub2e8\uc11c\ub97c \ub2ec\uc558\ub2e4.<\/p>\n<p>\uc5c5\ub370\uc774\ud2b8\ub41c \uc815\ucc45\uae08\ub9ac \uacbd\ub85c\ub294 \ub300\uccb4\ub85c \uc2a4\uc651 \ucee4\ube0c\uac00 \ubc18\uc601\ud574\uc628 \uc218\uc900\uc5d0 \ub9de\ucdb0 \uc0c1\ud5a5 \uc870\uc815\ub410\ub2e4. \ub178\ub974\uac8c\uc2a4\ubc29\ud06c\ub294 \uc5f0\ub9d0 \uae30\uc900\uae08\ub9ac \ud53c\ud06c\ub97c 4.55%\ub85c \uc81c\uc2dc\ud588\ub294\ub370, \uc774\ub294 3\uc6d4 \uc804\ub9dd(4.35%)\uc5d0\uc11c \uc62c\ub77c\uac04 \uc218\uce58\ub2e4. \ub610\ud55c \ud569\ub9ac\uc801\uc778 \uae30\uac04 \ub0b4 \ubb3c\uac00\ub97c \ubaa9\ud45c\ub85c \ub418\ub3cc\ub9ac\uae30 \uc704\ud574\uc11c\ub294 \ub2e4\uc18c \ub354 \uae34\ucd95\uc801\uc778 \ud1b5\ud654\uc815\ucc45 \uae30\uc870\uac00 \ud544\uc694\ud560 \uc218 \uc788\ub2e4\uace0 \ubc1d\ud614\ub2e4. BBH\ub294 \ucd5c\uc885\uae08\ub9ac(terminal rate) \uc804\ub9dd\uc774 \ub192\uc544\uc84c\uc74c\uc5d0\ub3c4 NOK\uc5d0 \uc81c\uacf5\ud558\ub294 \ucd94\uac00 \uc9c0\uc9c0\ub825\uc740 \uc81c\ud55c\uc801\uc774\ub77c\uace0 \ud3c9\uac00\ud588\ub2e4.<\/p>\n<h3>\ub9e4\ud30c\uc801 \uac00\uc774\ub358\uc2a4\uc640 \uc778\ud50c\ub808\uc774\uc158 \uc804\ub9dd<\/h3>\n<p>\ub178\ub974\uac8c\uc2a4\ubc29\ud06c\ub294 \uae30\uc900\uae08\ub9ac\ub97c 4.25%\ub85c \ub3d9\uacb0\ud558\ub418, \uac00\uae4c\uc6b4 \uc2dc\uc77c \ub0b4 \ucd94\uac00 \uae08\ub9ac \uc778\uc0c1 \uac00\uc774\ub358\uc2a4\ub97c \uac15\ud654\ud55c \uac83\uc73c\ub85c \ud310\ub2e8\ub41c\ub2e4. \uc911\uc559\uc740\ud589 \uc790\uccb4 \uc804\ub9dd\uc5d0 \ub530\ub974\uba74 \uc5f0\ub9d0 \uae08\ub9ac \ud53c\ud06c\ub294 4.55% \ub0b4\uc678\ub85c \uc81c\uc2dc\ub410\uc73c\uba70, \uc774\ub294 \uba85\ubc31\ud788 \ub9e4\ud30c\uc801 \uc2e0\ud638\ub2e4. \uc774\ub294 \ub2e8\uae30\uc801\uc73c\ub85c \ub178\ub974\uc6e8\uc774 \ud06c\ub85c\ub124\uc758 \ud558\ub2e8\uc744 \uc9c0\uc9c0\ud560 \uc218 \uc788\ub294 \ud380\ub354\uba58\ud138 \uc694\uc778\uc73c\ub85c \uc791\uc6a9\ud560 \uc5ec\uc9c0\uac00 \uc788\ub2e4.<\/p>\n<p>\uc911\uc559\uc740\ud589\uc758 \uac15\uacbd\ud55c \uc2a4\ud0e0\uc2a4\ub294 \uace0\ucc29\ud654\ub41c \uc778\ud50c\ub808\uc774\uc158\uc5d0 \ub300\ud55c \uc9c1\uc811\uc801\uc778 \ub300\uc751\uc774\ub2e4. \ub178\ub974\uc6e8\uc774\uc758 2026\ub144 5\uc6d4 \uc18c\ube44\uc790\ubb3c\uac00\uc9c0\uc218(CPI)\ub294 3.9%\ub85c \uc9d1\uacc4\ub3fc, \uc911\uc559\uc740\ud589 \ubaa9\ud45c(2.0%)\ub97c \uc5ec\uc804\ud788 \ud070 \ud3ed\uc73c\ub85c \uc0c1\ud68c\ud588\uc744 \ubfd0 \uc544\ub2c8\ub77c \uc2dc\uc7a5 \ucee8\uc13c\uc11c\uc2a4\ub3c4 \uc18c\ud3ed \uc6c3\ub3cc\uc558\ub2e4. \uc774\ub7ec\ud55c \ubb3c\uac00 \uc555\ub825\uc744 \uac10\uc548\ud558\uba74 9\uc6d4 \ud68c\uc758\uae4c\uc9c0 \ucd94\uac00 \uc778\uc0c1\uc774 \ub2e8\ud589\ub420 \uac00\ub2a5\uc131\uc774 \ub192\ub2e4\ub294 \ud310\ub2e8\uc774\ub2e4.<\/p>\n<p>\ud06c\ub85c\ub124\uc5d0 \uc6b0\ud638\uc801\uc778 \ubc30\uacbd\uc73c\ub85c\ub294 \uc5d0\ub108\uc9c0 \uc2dc\uc7a5 \uac15\uc138\ub3c4 \uaf3d\ud78c\ub2e4. \ube0c\ub80c\ud2b8\uc720\ub294 \uacf5\uae09 \ud1b5\uc81c \uae30\uc870\uc640 \uc5ec\ub984\ucca0 \uc218\uc694 \uc804\ub9dd\uc774 \ub9de\ubb3c\ub9ac\uba70 \uacac\uc870\ud558\uac8c \uac70\ub798\ub418\uace0 \uc788\uc73c\uba70, \ucd5c\uadfc \ubc30\ub7f4\ub2f9 95\ub2ec\ub7ec \uc218\uc900\uae4c\uc9c0 \uc0c1\uc2b9\ud588\ub2e4. \uc5d0\ub108\uc9c0 \uc21c\uc218\ucd9c\uad6d\uc778 \ub178\ub974\uc6e8\uc774\ub294 \uc720\uac00 \uc0c1\uc2b9\uc758 \uc218\ud61c\ub97c \uacbd\uc81c\uc640 \ud1b5\ud654\uac00 \uc9c1\uc811\uc801\uc73c\ub85c \ub204\ub9b4 \uc218 \uc788\ub2e4.<\/p>\n<h3>\uc815\ucc45 \ucc28\ubcc4\ud654\uc640 \ud2b8\ub808\uc774\ub529 \uc2dc\uc0ac\uc810<\/h3>\n<p>\uc774\ubc88 \uc815\ucc45 \uacbd\ub85c\ub294 \uc774\ub2ec \ucd08 \uae08\ub9ac \uc778\ud558\ub97c \uac1c\uc2dc\ud558\uace0 \uc774\ud6c4 \ud589\ubcf4\uc5d0 \uc2e0\uc911\ud55c \uc2a4\ud0e0\uc2a4\ub97c \uc2dc\uc0ac\ud55c \uc720\ub7fd\uc911\uc559\uc740\ud589(ECB)\uacfc \ub69c\ub837\ud558\uac8c \ub300\ube44\ub41c\ub2e4. \ud655\ub300\ub418\ub294 \uc815\ucc45 \ucc28\ubcc4\ud654\ub294 \uc720\ub85c \ub300\ube44 \ud06c\ub85c\ub124\uc758 \uae08\ub9ac \ucc28(\uc2a4\ud504\ub808\ub4dc)\ub97c \ud06c\ub85c\ub124\uc5d0 \uc720\ub9ac\ud558\uac8c \ubc8c\ub824\ub193\ub294\ub2e4. \ub354 \ub192\uc740 \uc218\uc775\ub960\uc740 \ud2b8\ub808\uc774\ub354 \uad00\uc810\uc5d0\uc11c NOK \ubcf4\uc720 \ub9e4\ub825\uc744 \uc810\ucc28 \ub192\uc774\ub294 \uc694\uc778\uc774\ub2e4.<\/p>\n<p>\uc774 \uac19\uc740 \uc804\ub9dd\ud558\uc5d0 \ud30c\uc0dd\uc0c1\ud488 \uc2dc\uc7a5\uc744 \ud1b5\ud574 \ud06c\ub85c\ub124 \uac15\uc138\uc5d0 \ud3ec\uc9c0\uc154\ub2dd\ud558\ub294 \uc804\ub7b5\uc774 \ud569\ub9ac\uc801\uc774\ub77c\ub294 \ud310\ub2e8\uc774\ub2e4. \ud604 \uc218\uc900\uc5d0\uc11c \ud06c\uac8c \uc0c1\uc2b9\ud558\uc9c0 \uc54a\uc744 \uac83\uc5d0 \ubca0\ud305\ud558\uba70 \ud504\ub9ac\ubbf8\uc5c4\uc744 \uc218\ucde8\ud558\uae30 \uc704\ud574, \uc678\uac00\uaca9(out-of-the-money) EUR\/NOK \ucf5c\uc635\uc158 \ub9e4\ub3c4\ub97c \uac80\ud1a0\ud558\uace0 \uc788\ub2e4. \uacfc\uac70 2022~2023\ub144 \uc778\uc0c1 \uc0ac\uc774\ud074 \ub2f9\uc2dc\ucc98\ub7fc \ub178\ub974\uac8c\uc2a4\ubc29\ud06c\uac00 ECB\ubcf4\ub2e4 \ub354 \uacf5\uaca9\uc801\uc774\uc5c8\ub358 \uad6c\uac04\uc5d0\uc11c\ub294 EUR\/NOK \ubcc0\ub3d9\uc131 \ub9e4\ub3c4 \uc804\ub7b5\uc774 \uc591\ud638\ud55c \uc131\uacfc\ub97c \ubcf4\uc778 \ubc14 \uc788\ub2e4.<\/p>\n<p>\ub2e4\ub9cc \uc774\ubc88 \ub9e4\ud30c\uc131\uc758 \uc0c1\ub2f9 \ubd80\ubd84\uc774 \uc774\ubbf8 \uc120\ubc18\uc601\ub3fc \uc788\uc5c8\ub358 \ub9cc\ud07c, \ubc1c\ud45c \uc9c1\ud6c4 \ud1b5\ud654 \ubc18\uc751\uc774 \uc81c\ud55c\uc801\uc774\uc5c8\ub358 \uc810\ub3c4 \uac10\uc548\ud574\uc57c \ud55c\ub2e4. \uc2a4\uc651 \uc2dc\uc7a5\uc740 \ubc1c\ud45c \uc774\uc804\ubd80\ud130 \ucd5c\uc885\uae08\ub9ac\ub97c 4.5%\uc5d0 \uadfc\uc811\ud55c \uc218\uc900\uc73c\ub85c \ub300\uccb4\ub85c \uac00\uaca9\uc5d0 \ubc18\uc601\ud574\uc654\ub2e4. \ub530\ub77c\uc11c \ud3ec\uc9c0\uc158\uc740 \uc804\uc220\uc801\uc73c\ub85c \uc6b4\uc6a9\ud558\ub418, \ud06c\ub85c\ub124\uc758 \uae09\ub4f1 \uc790\uccb4\ub97c \uae30\ub300\ud558\uae30\ubcf4\ub2e4\ub294 \uae08\ub9ac \ucc28\uc5d0\uc11c \ubc1c\uc0dd\ud558\ub294 \ud50c\ub7ec\uc2a4 \uce90\ub9ac(positive carry) \uc218\ucde8\uc5d0 \ucd08\uc810\uc744 \ub9de\ucd9c \ubc29\uce68\uc774\ub2e4.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\ub178\ub974\uac8c\uc2a4\ubc29\ud06c, \uae30\uc900\uae08\ub9ac 4.25% \ub3d9\uacb0\uc5d0\ub3c4 \u201c\ucd94\uac00 \uc778\uc0c1\u201d \uc7ac\ud655\uc778\u2026\uc5f0\ub9d0 \ud53c\ud06c 4.55%\ub85c \uc0c1\ud5a5. \ub9e4\ud30c\uc801 \ub3d9\uacb0\uc5d0 NOK \ud558\ubc29 \uc9c0\uc9c0 \uae30\ub300, \ub2e4\ub9cc \uc120\ubc18\uc601\uc73c\ub85c \ud658\uc728 \uc601\ud5a5 \uc81c\ud55c.<\/p>\n","protected":false},"author":87,"featured_media":47711,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[71],"tags":[],"class_list":["post-49824","post","type-post","status-publish","format-standard","has-post-thumbnail","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\/49824","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=49824"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/posts\/49824\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/media\/47711"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/media?parent=49824"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/categories?post=49824"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/tags?post=49824"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}