{"id":50449,"date":"2026-06-29T10:51:12","date_gmt":"2026-06-29T10:51:12","guid":{"rendered":"https:\/\/www.vtmarkets.com\/kr-asia\/uncategorized\/%eb%9d%bc%ea%b0%80%eb%a5%b4%eb%93%9c-ecb-%ec%a0%95%ec%b1%85-%eb%b0%a9%ed%96%a5-%ec%a0%9c%ec%8b%9c-%ec%9e%84%eb%b0%95%ec%8b%a0%ed%8a%b8%eb%9d%bc-%ed%8f%ac%eb%9f%bc-%ec%a3%bc%eb%aa%a9\/"},"modified":"2026-06-29T10:51:12","modified_gmt":"2026-06-29T10:51:12","slug":"%eb%9d%bc%ea%b0%80%eb%a5%b4%eb%93%9c-ecb-%ec%a0%95%ec%b1%85-%eb%b0%a9%ed%96%a5-%ec%a0%9c%ec%8b%9c-%ec%9e%84%eb%b0%95%ec%8b%a0%ed%8a%b8%eb%9d%bc-%ed%8f%ac%eb%9f%bc-%ec%a3%bc%eb%aa%a9","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/kr-asia\/live-updates\/%eb%9d%bc%ea%b0%80%eb%a5%b4%eb%93%9c-ecb-%ec%a0%95%ec%b1%85-%eb%b0%a9%ed%96%a5-%ec%a0%9c%ec%8b%9c-%ec%9e%84%eb%b0%95%ec%8b%a0%ed%8a%b8%eb%9d%bc-%ed%8f%ac%eb%9f%bc-%ec%a3%bc%eb%aa%a9\/","title":{"rendered":"\ub77c\uac00\ub974\ub4dc, ECB \uc815\ucc45 \ubc29\ud5a5 \uc81c\uc2dc \uc784\ubc15\u2026\uc2e0\ud2b8\ub77c \ud3ec\ub7fc \uc8fc\ubaa9 \uc18d \uae08\ub9ac\uc778\uc0c1 \ud504\ub9ac\ubbf8\uc5c4, \uc218\uc775\ub960\uace1\uc120\uc5d0 \uc720\uc9c0"},"content":{"rendered":"

\uc2e0\ud2b8\ub77c \ud3ec\ub7fc\uc774 \uc720\ub7fd\uc911\uc559\uc740\ud589(ECB) \uba54\uc2dc\uc9c0\uc758 \ubc29\ud5a5\uc744 \uac00\ub97c \uc804\ub9dd\uc774\ub2e4. \ud06c\ub9ac\uc2a4\ud2f4 \ub77c\uac00\ub974\ub4dc \ucd1d\uc7ac\ub294 \uc624\ub298 \ubc24 \ub9cc\ucc2c \uc774\ud6c4 \uac1c\ud68c \uc5f0\uc124\uc5d0 \ub098\uc11c\uba70, \uc218\uc694\uc77c\uc5d0\ub294 \ub77c\uac00\ub974\ub4dc\uac00 \uc6cc\uc2dc, \ubca0\uc77c\ub9ac, \ub9e5\ud074\ub7fc\uacfc \ud568\uaed8\ud558\ub294 \uc815\ucc45 \ud328\ub110\uc774 \uc608\uc815\ub3fc \uc788\ub2e4. \uc2dc\uc7a5\uc758 \uae08\ub9ac \uacbd\ub85c \ubc18\uc601\uc740 \ub2e4\uc18c \uc644\ud654\ub3fc \ub0b4\ub144 4\uc6d4\uae4c\uc9c0 ECB \uae34\ucd95 \ud3ed\uc774 \ucd1d 27bp\ub85c \uac00\uaca9\uc5d0 \ubc18\uc601\ub3fc \uc788\uc9c0\ub9cc, \ub2e8\uae30\ubb3c \uae08\ub9ac\uc758 \ucd94\uac00 \ud558\ub77d \uae30\ub300\ub294 \ub3c4\uc804\uc744 \ubc1b\uace0 \uc788\uc5b4 \uc218\uc775\ub960\uace1\uc120\uc5d0\ub294 \uc5ec\uc804\ud788 \uae08\ub9ac\uc778\uc0c1 \ud504\ub9ac\ubbf8\uc5c4\uc774 \ub0b4\uc7ac\ub3fc \uc788\ub2e4.<\/p>\n

ECB\ub97c \ub118\uc5b4 \uad6d\uc81c\uacb0\uc81c\uc740\ud589(BIS) \uc5f0\ucc28\ubcf4\uace0\uc11c\ub294 \u201c\uc0c8\ub85c\uc6b4 \uc7ac\uc815-\uae08\uc735\uc548\uc815\uc131\uc758 \uc5f0\uacb0\uace0\ub9ac(fiscal-financial stability nexus)\uc640 \ubcc0\ud654\ud558\ub294 \uc778\ud50c\ub808\uc774\uc158 \uc5ed\ud559\u201d\uc744 \uc5b8\uae09\ud588\ub2e4. \ubbf8\uad6d\uc5d0\uc11c\ub294 \uce74\uc288\uce74\ub9ac\uac00 \uc62c\ud574 1\ucc28\ub840 \uc778\uc0c1\uc744 \uc804\ub9dd\ud55c \ub4a4 2027\ub144\uc5d0\ub294 \uae08\ub9ac\ub97c \ub3d9\uacb0\ud560 \uac83\uc73c\ub85c \ub0b4\ub2e4\ubcf4\uba70, \uad11\ubc94\uc704\ud55c \uc778\ud50c\ub808\uc774\uc158 \uc555\ub825\uacfc \uc778\uacf5\uc9c0\ub2a5(AI)\uc774 \uc2dc\uc7a5 \uae08\ub9ac\ub97c \ub04c\uc5b4\uc62c\ub9b4 \uac00\ub2a5\uc131\uc744 \uadfc\uac70\ub85c \ub4e4\uc5c8\ub2e4. \ubcc4\ub3c4\ub85c \ubc14\ud0a8\uc740 \uc778\ud50c\ub808\uc774\uc158\uc774 \uc5ec\uc804\ud788 \ub192\ub2e4\uace0 \uacbd\uace0\ud558\uba74\uc11c\ub3c4 \uc77c\ubd80 \uc644\ud654 \uc2e0\ud638\ub97c \uc9c0\ubaa9\ud588\uc73c\uba70, \uc560\ud2c0\ub79c\ud0c0 \uc5f0\uc740 \ucd1d\uc7ac \uc120\uc784 \uc808\ucc28\uac00 \uc7ac\uac1c\ub418\uba74\uc11c \uc6cc\uc2dc\uac00 2027\ub144 \ud22c\ud45c\uad8c\uc744 \uac00\uc9c4 \ud6c4\ubcf4 \uc120\ucd9c\uc5d0 \uad00\uc5ec\ud558\ub294 \uc5ed\ud560\uc744 \ub9e1\uac8c \ub410\ub2e4.<\/p>\n

\uc2e0\ud2b8\ub77c \ud3ec\ub7fc, \uc2dc\uc7a5\uc758 ECB \uac00\uc774\ub358\uc2a4 \ub300\uae30 \uc18d \u2018\ud1a4\u2019 \uacb0\uc815<\/h3>\n

\uc624\ub298(2026\ub144 6\uc6d4 29\uc77c) \uae30\uc900\uc73c\ub85c \uc6b0\ub9ac\ub294 ECB \uc2e0\ud2b8\ub77c \ud3ec\ub7fc\uc5d0\uc11c \ub098\uc62c \uac00\uc774\ub358\uc2a4\ub97c \uc8fc\uc2dc\ud558\uace0 \uc788\ub2e4. \uc2dc\uc7a5\uc740 \ub0b4\ub144 4\uc6d4\uae4c\uc9c0 \uc57d 27bp\uc5d0 \ubd88\uacfc\ud55c \uae08\ub9ac \uc778\uc0c1\uc744 \ubc18\uc601\ud558\uace0 \uc788\uc73c\ub098, \uc774\ub294 \ub2e4\uc18c \ub099\uad00\uc801\uc77c \uc218 \uc788\ub2e4\uace0 \ubcf8\ub2e4. \ub77c\uac00\ub974\ub4dc \ucd1d\uc7ac\uc758 \uc624\ub298 \ubc24 \uc5f0\uc124\uc774 \ub2e8\uae30\ubb3c \uae08\ub9ac(\ud504\ub7f0\ud2b8\uc5d4\ub4dc) \ucd94\uac00 \ud558\ub77d\uc5d0 \u2018\uccad\uc2e0\ud638\u2019\ub97c \uc8fc\uc9c0\ub294 \uc54a\uc744 \uac00\ub2a5\uc131\uc774 \ud06c\ub2e4\uace0 \ud310\ub2e8\ud55c\ub2e4.<\/p>\n

\ucd5c\uadfc \uc720\ub85c\uc874 \uc9c0\ud45c\ub294 \uc911\uc559\uc740\ud589\uc758 \uc2e0\uc911\ud55c \uc2a4\ud0e0\uc2a4\ub97c \ub4b7\ubc1b\uce68\ud574, \uc758\ubbf8 \uc788\ub294 \uae08\ub9ac \uc778\ud558\ub97c \uae30\ub300\ud558\uae30 \uc5b4\ub835\uac8c \ub9cc\ub4e0\ub2e4. 6\uc6d4 \uc18d\ubcf4\uce58\uc5d0\uc11c \ubb3c\uac00\uc0c1\uc2b9\ub960\uc740 2.4%\ub85c \ub048\uc801\ud55c \ud750\ub984\uc744 \uc774\uc5b4\uac00\uba70 ECB \ubaa9\ud45c(2%)\ub97c \uc0c1\ud68c\ud588\uace0, \uc2e4\uc5c5\ub960\ub3c4 6.4%\uc758 \ub0ae\uc740 \uc218\uc900\uc744 \uc720\uc9c0\ud558\uace0 \uc788\ub2e4. \uc774\ub7ec\ud55c \ubc30\uacbd\uc740 \uc815\ucc45\ub2f9\uad6d\uc774 \uc774\ubc88 \uc8fc \ube44\ub458\uae30\ud30c\uc801 \uc804\ud658\uc744 \uc2dc\uc0ac\ud558\uae30 \uc5b4\ub835\uac8c \ud55c\ub2e4.<\/p>\n

\uc911\uc559\uc740\ud589\uc758 \uae34\ucd95 \uc758\uc9c0 \uc18d \uc2dc\uc7a5 \ud30c\uc7a5 \ubc0f \ubcf4\uc218\uc801 \uc804\ub7b5<\/h3>\n

\ud30c\uc0dd\uc0c1\ud488 \ud2b8\ub808\uc774\ub354 \uad00\uc810\uc5d0\uc11c \ub2e8\uae30\uae08\ub9ac\uc758 \uae09\ub77d\uc5d0 \ubca0\ud305\ud558\ub294 \ud3ec\uc9c0\uc154\ub2dd\uc740 \uc704\ud5d8\ud55c \uc804\ub7b5\uc73c\ub85c \ubcf4\uc778\ub2e4. \uae08\ub9ac \uc778\uc0c1 \uac00\ub2a5\uc131\uc5d0 \ub300\ud55c \ud504\ub9ac\ubbf8\uc5c4\uc740 \uc218\uc775\ub960\uace1\uc120 \ud504\ub7f0\ud2b8\uc5d4\ub4dc\uc5d0 \uacc4\uc18d \ub0b4\uc7ac\ub420 \uac83\uc73c\ub85c \ud310\ub2e8\ud55c\ub2e4. \ub530\ub77c\uc11c \ub2e8\uae30 \uc2a4\uc651\uc5d0\uc11c \uace0\uc815\uae08\ub9ac \uc218\ucde8(receive fixed)\ub97c \ub298\ub9ac\uac70\ub098, \uc720\ub9ac\ubcf4(Euribor) \uae30\ubc18 \uc120\ubb3c \ub4f1 \uae08\ub9ac \ud558\ub77d\uc5d0 \ubbfc\uac10\ud55c \uc0c1\ud488\uc744 \ub9e4\uc218\ud558\ub294 \ub370\uc5d0\ub294 \uc2e0\uc911\ud560 \ud544\uc694\uac00 \uc788\ub2e4.<\/p>\n

\uae00\ub85c\ubc8c \uce21\uba74\uc5d0\uc11c\ub3c4 \uc774\ub7ec\ud55c \uc2dc\uac01\uc740 \uac15\ud654\ub41c\ub2e4. \uc5f0\uc900 \uc778\uc0ac\ub4e4 \uc5ed\uc2dc \ub9e4\ud30c\uc801 \ubc1c\uc5b8\uc744 \uc774\uc5b4\uac00\uace0 \uc788\ub2e4. \uce74\uc288\uce74\ub9ac\uc758 \u2018\uc778\ud50c\ub808\uc774\uc158 \uc555\ub825 \uc9c0\uc18d\u2019 \uad00\ub828 \ucf54\uba58\ud2b8\ub294 \uadfc\uc6d0 PCE \ubb3c\uac00\uac00 2.8% \uc218\uc900\uc744 \uc720\uc9c0\ud55c\ub2e4\ub294 \ucd5c\uadfc \ubbf8\uad6d \uc9c0\ud45c\uc640\ub3c4 \uacb0\uc774 \ub9de\ub294\ub2e4. \uc911\uc559\uc740\ud589\ub4e4\uc758 \ub3d9\uc870\uc801 \uacbd\uacc4 \uae30\uc870\ub294 \uae00\ub85c\ubc8c \ucc44\uad8c\uc2dc\uc7a5 \ub7a0\ub9ac \uac00\ub2a5\uc131\uc744 \uc81c\ud55c\ud55c\ub2e4.<\/p>\n

\uc774 \uac19\uc740 \ud328\ud134\uc740 2022~2023\ub144\uc5d0\ub3c4 \ubc18\ubcf5\ub410\ub2e4. \ub2f9\uc2dc \uc2dc\uc7a5\uc740 \uc815\ucc45 \uc804\ud658(pivot)\uc744 \ub108\ubb34 \uc774\ub974\uac8c \uac00\uaca9\uc5d0 \ubc18\uc601\ud558\ub824 \ud588\uace0, \uc911\uc559\uc740\ud589\ub4e4\uc740 \uc8fc\uc694 \uc774\ubca4\ud2b8\ub97c \uacc4\uae30\ub85c \uc774\ub97c \uac15\ud558\uac8c \uacac\uc81c\ud558\uba74\uc11c \ub2e8\uae30 \uae08\ub9ac \uae30\ub300\uac00 \uae09\uaca9\ud788 \ub418\ub3cc\ub824\uc9c0\ub294 \uc77c\uc774 \uc7a6\uc558\ub2e4. \uc774\ubc88\uc5d0\ub3c4 ECB\uac00 \uc2e0\ud2b8\ub77c\ub97c \ud65c\uc6a9\ud574 \uc2dc\uc7a5 \uae30\ub300\ub97c \uad00\ub9ac\ud558\uace0 \uae08\uc735\uc5ec\uac74\uc774 \uc131\uae09\ud788 \uc644\ud654\ub418\ub294 \uac83\uc744 \ub9c9\uc744 \uc704\ud5d8\uc774 \uc720\uc0ac\ud558\uac8c \uc874\uc7ac\ud55c\ub2e4\uace0 \ubcf8\ub2e4.<\/p>\n

\uc774\ub7f0 \ud658\uacbd\uc5d0\uc11c\ub294 \uae08\ub9ac\uac00 \uacac\uc870\ud558\uac8c \uc720\uc9c0\ub418\uac70\ub098 \uc18c\ud3ed \ub354 \uc624\ub97c \uac00\ub2a5\uc131\uc5d0 \ub300\ube44\ub41c \uc804\ub7b5\uc774 \uc720\ub9ac\ud574 \ubcf4\uc778\ub2e4. BIS\uac00 \ucd5c\uadfc \uc7ac\uc815\uc815\ucc45\uacfc \uae08\uc735\uc548\uc815\uc758 \uc5f0\uacb0\uace0\ub9ac\ub97c \uacbd\uace0\ud55c \uc810\uc740, \uc911\uc559\uc740\ud589\uc774 \ubb34\uc2dc\ud558\uae30 \uc5b4\ub824\uc6b4 \ub610 \ud558\ub098\uc758 \ub9ac\uc2a4\ud06c \uce35\uc704\ub97c \ucd94\uac00\ud55c\ub2e4. \uacb0\uacfc\uc801\uc73c\ub85c \uc784\ubc15\ud558\uace0 \ud070 \ud3ed\uc758 \uae08\ub9ac \uc778\ud558\uc5d0 \ub300\ud55c \ubca0\ud305\uc740 \uc2dc\uae30\uc0c1\uc870\uc77c \uac00\ub2a5\uc131\uc774 \ub192\ub2e4.<\/p>\n\n\n\n

\uc9c0\uae08 \ubc14\ub85c \uac70\ub798\ub97c \uc2dc\uc791\ud558\uc138\uc694 \u2014 VT Markets \uc2e4\uacc4\uc88c\ub97c \uac1c\uc124\ud558\ub824\uba74 \uc5ec\uae30<\/a>\ub97c \ud074\ub9ad\ud558\uc138\uc694.<\/b>\n\n<\/p>","protected":false},"excerpt":{"rendered":"

\uc2e0\ud2b8\ub77c \ud3ec\ub7fc\uc774 ECB \u2018\ud1a4\u2019\uc744 \uac00\ub978\ub2e4: \uc2dc\uc7a5\uc740 \ub0b4\ub144 4\uc6d4\uae4c\uc9c0 27bp\ub9cc \ubc18\uc601\ud558\uc9c0\ub9cc \ubb3c\uac00\u00b7\uace0\uc6a9 \uacac\uc870\ub85c \ube44\ub458\uae30 \uc804\ud658 \ub09c\ub9dd. BIS\u00b7\uc5f0\uc900\ub3c4 \ub9e4\ud30c, \ub2e8\uae30\uae08\ub9ac \uae09\ub77d \ubca0\ud305 \uacbd\uacc4.<\/p>\n","protected":false},"author":87,"featured_media":50199,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[71],"tags":[],"class_list":["post-50449","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\/50449","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=50449"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/posts\/50449\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/media\/50199"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/media?parent=50449"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/categories?post=50449"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/tags?post=50449"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}