{"id":50784,"date":"2026-07-03T06:28:47","date_gmt":"2026-07-03T06:28:47","guid":{"rendered":"https:\/\/www.vtmarkets.com\/kr-asia\/uncategorized\/%ec%a4%91%ea%b5%ad-%ec%9d%b8%eb%af%bc%ec%9d%80%ed%96%89-%ec%98%88%ec%83%81%ec%b9%98-%eb%b0%91%eb%8f%84%eb%8a%94-%eb%8d%94-%ea%b0%95%ed%95%9c-%ec%9c%84%ec%95%88%c2%b7%eb%8b%ac%eb%9f%ac-%ea%b8%b0\/"},"modified":"2026-07-03T06:28:47","modified_gmt":"2026-07-03T06:28:47","slug":"%ec%a4%91%ea%b5%ad-%ec%9d%b8%eb%af%bc%ec%9d%80%ed%96%89-%ec%98%88%ec%83%81%ec%b9%98-%eb%b0%91%eb%8f%84%eb%8a%94-%eb%8d%94-%ea%b0%95%ed%95%9c-%ec%9c%84%ec%95%88%c2%b7%eb%8b%ac%eb%9f%ac-%ea%b8%b0","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/kr-asia\/live-updates\/%ec%a4%91%ea%b5%ad-%ec%9d%b8%eb%af%bc%ec%9d%80%ed%96%89-%ec%98%88%ec%83%81%ec%b9%98-%eb%b0%91%eb%8f%84%eb%8a%94-%eb%8d%94-%ea%b0%95%ed%95%9c-%ec%9c%84%ec%95%88%c2%b7%eb%8b%ac%eb%9f%ac-%ea%b8%b0\/","title":{"rendered":"\uc911\uad6d \uc778\ubbfc\uc740\ud589, \uc608\uc0c1\uce58 \ubc11\ub3c4\ub294 \ub354 \uac15\ud55c \uc704\uc548\u00b7\ub2ec\ub7ec \uae30\uc900\ud658\uc728 \uace0\uc2dc\u2026\uc131\uc7a5 \ub454\ud654 \uc18d \uc704\uc548\ud654 \uac15\uc138 \uad00\ub9ac \uc2e0\ud638"},"content":{"rendered":"

\uc911\uad6d\uc778\ubbfc\uc740\ud589(PBoC)\uc740 \uae08\uc694\uc77c \ub2ec\ub7ec\/\uc704\uc548(USD\/CNY) \uae30\uc900\ud658\uc728(\uc911\uac04\uace0\uc2dc)\uc744 6.8047\ub85c \uace0\uc2dc\ud588\ub2e4. \uc774\ub294 \uc804\ub0a0(\ubaa9\uc694\uc77c) 6.8088\ubcf4\ub2e4 \uc704\uc548\ud654 \uac15\uc138(\ub2ec\ub7ec \uc57d\uc138) \ubc29\ud5a5\uc758 \uace0\uc2dc\uc774\uba70, \ub85c\uc774\ud130 \ucd94\uc815\uce58 6.7808\ubcf4\ub2e4\ub294 \ub192\uc740 \uc218\uc900\uc774\ub2e4. PBoC\uac00 \ubc1d\ud78c \ud1b5\ud654\uc815\ucc45 \ubaa9\ud45c\ub294 \ud658\uc728 \uc548\uc815\uc131\uc744 \ud3ec\ud568\ud55c \ubb3c\uac00 \uc548\uc815\uacfc \uacbd\uc81c\uc131\uc7a5 \uc9c0\uc6d0\uc774\uba70, \ub3d9\uc2dc\uc5d0 \uc911\uad6d \uae08\uc735\uc2dc\uc7a5\uc758 \uac1c\ubc29 \ubc0f \ubc1c\uc804 \ub4f1 \uae08\uc735\uac1c\ud601\ub3c4 \ucd94\uc9c4\ud558\uace0 \uc788\ub2e4.<\/p>\n

PBoC\ub294 \uc911\ud654\uc778\ubbfc\uacf5\ud654\uad6d(PRC) \uc0b0\ud558 \uad6d\uc720\uae30\uad00\uc73c\ub85c \uc790\uc728\uc801 \uae30\uad00\uc73c\ub85c \ucde8\uae09\ub418\uc9c0 \uc54a\ub294\ub2e4. \uad6d\ubb34\uc6d0 \ucd1d\ub9ac\uac00 \uc9c0\uba85\ud558\ub294 \uacf5\uc0b0\ub2f9(CCP) \ub2f9\uc704\uc6d0\ud68c \uc11c\uae30\uac00 \uc6b4\uc601\uacfc \ubc29\ud5a5\uc131\uc5d0 \ud575\uc2ec\uc801 \uc601\ud5a5\ub825\uc744 \ud589\uc0ac\ud558\uba70, \ud310\uad81\uc131(\u6f58\u529f\u80dc)\uc774 \ub450 \uc9c1\ucc45\uc744 \uacb8\ud558\uace0 \uc788\ub2e4. \uc815\ucc45\uc740 7\uc77c\ubb3c \uc5ed\ud658\ub9e4\uc870\uac74\ubd80\ucc44\uad8c(\uc5ed\ub808\ud3ec) \uae08\ub9ac, \uc911\uae30\uc720\ub3d9\uc131\uc9c0\uc6d0\ucc3d\uad6c(MLF), \uc678\ud658\uc2dc\uc7a5 \uac1c\uc785, \uc9c0\uae09\uc900\ube44\uc728(RRR) \ub4f1 \uc218\ub2e8\uc744 \ud1b5\ud574 \uc9d1\ud589\ub41c\ub2e4. \ub300\ucd9c\uc6b0\ub300\uae08\ub9ac(LPR)\ub294 \ub300\ucd9c\u00b7\ubaa8\uae30\uc9c0 \uae08\ub9ac \ubc0f \uc608\uae08 \uc218\uc775\ub960 \ucc45\uc815\uc5d0 \uc9c1\uc811 \ubc18\uc601\ub418\ub294 \uae30\uc900\uae08\ub9ac\ub85c, \uc704\uc548\ud654\uc5d0\ub3c4 \uc601\ud5a5\uc744 \uc904 \uc218 \uc788\ub2e4. \uc911\uad6d\uc5d0\ub294 19\uac1c \ubbfc\uc601\uc740\ud589\uc774 \uc788\uc73c\uba70, \ub514\uc9c0\ud138 \uc740\ud589\uc778 \uc6e8\uc774\ubc45\ud06c(WeBank)\uc640 \ub9c8\uc774\ubc45\ud06c(MYbank)\uac00 \ub300\ud45c\uc801\uc774\ub2e4. \uc911\uad6d\uc740 2014\ub144\ubd80\ud130 \uad6d\ub0b4 \uc790\ubcf8 \uae30\ubc18\uc758 \ubbfc\uc601 \uae08\uc735\uae30\uad00 \uc9c4\uc785\uc744 \ud5c8\uc6a9\ud558\uba70 \ubbfc\uc601\uc740\ud589 \ubd80\ubb38\uc744 \uac1c\ubc29\ud588\ub2e4.<\/p>\n

PBoC’s Currency Signal and the Broader Economic Context<\/h3>\n

\uc774\ubc88 \ud658\uc728 \uace0\uc2dc\ub294 \uc704\uc548\ud654 \uc808\uc0c1 \uc18d\ub3c4\ub97c \uad00\ub9ac\ud558\uaca0\ub2e4\ub294 \uc911\uad6d\uc778\ubbfc\uc740\ud589\uc758 \uba85\ud655\ud55c \uc2e0\ud638\ub85c \ud574\uc11d\ub41c\ub2e4. \uace0\uc2dc\uac00 \uc804\uc77c \ub300\ube44 \uc18c\ud3ed \uac15\uc138\uc600\uc9c0\ub9cc, \uc2dc\uc7a5 \ucd94\uc815\uce58 \ub300\ube44\ub85c\ub294 \uc758\ubbf8 \uc788\uac8c \uc57d\ud55c(\ub2ec\ub7ec\/\uc704\uc548\uc774 \ub192\uac8c \ub098\uc624\ub294) \uc218\uc900\uc774\uc5b4\uc11c, \uc704\uc548\ud654\uac00 \ub108\ubb34 \ube60\ub974\uac8c \uac15\uc138\ub85c \uac00\ub294 \uac83\uc744 \ucc28\ub2e8\ud558\ub824\ub294 \uc758\ub3c4\uac00 \ub4dc\ub7ec\ub09c\ub2e4. \uc774\ub294 \uacbd\uae30 \uc9c0\uc6d0\uc744 \uc704\ud574 \u2018\uc548\uc815\uc801\uc774\ub418 \uc57d\uac04 \uc57d\ud55c \uc704\uc548\ud654\u2019\ub97c \uc120\ud638\ud55c\ub2e4\ub294 \ub2f9\uad6d\uc758 \uae30\uc870\ub97c \uc2dc\uc0ac\ud55c\ub2e4.<\/p>\n

\uc774 \uac19\uc740 \uc870\uce58\ub294 \ucd5c\uadfc \uacbd\uc81c\uc9c0\ud45c \ud750\ub984\uacfc\ub3c4 \ub9de\ub2ff\uc544 \uc788\ub2e4. \uc911\uad6d\uc758 2026\ub144 2\ubd84\uae30 GDP \uc131\uc7a5\ub960\uc740 4.8%\ub85c, \uc2dc\uc7a5 \ucee8\uc13c\uc11c\uc2a4 5.0%\ub97c \uc18c\ud3ed \ud558\ud68c\ud588\ub2e4. \ub610\ud55c 6\uc6d4 \uc218\ucd9c\uc740 \uc804\ub144 \ub3d9\uc6d4 \ub300\ube44 0.5% \uac10\uc18c\ud574 \ub300\uc678 \uc218\uc694\uac00 \uc57d\ud558\ub2e4\ub294 \uc778\uc2dd\uc744 \uac15\ud654\ud588\ub2e4. \uc774\uc5d0 \ub530\ub77c \ub2f9\uad6d\uc774 \ud658\uc728\uc744 \uc57d\ud55c \uc678\ubd80 \uc218\uc694\ub97c \ubcf4\uc644\ud558\ub294 \uc815\ucc45 \uc218\ub2e8\uc73c\ub85c \ud65c\uc6a9\ud558\uace0 \uc788\ub2e4\ub294 \ud574\uc11d\uc774 \uac00\ub2a5\ud558\ub2e4. \uc774\ub294 PBoC\uac00 \uc9c0\ub09c\ub2ec 1\ub144\ubb3c LPR\uc744 3.45%\ub85c \ub3d9\uacb0\ud558\uba70 \ud1b5\ud654\uc644\ud654\uc5d0 \uc2e0\uc911\ud55c \ud0dc\ub3c4\ub97c \ubcf4\uc778 \uc774\ud6c4\uc758 \ud750\ub984\uc774\uae30\ub3c4 \ud558\ub2e4.<\/p>\n

Implications For Markets and Trading Strategy<\/h3>\n

\ud30c\uc0dd\uc0c1\ud488 \ud2b8\ub808\uc774\ub354 \uad00\uc810\uc5d0\uc11c, \ud5a5\ud6c4 \uc218\uc8fc \ub3d9\uc548 USD\/CNY\uc758 \uace0\ubcc0\ub3d9\uc131\uc5d0 \ubca0\ud305\ud558\ub294 \uc804\ub7b5\uc740 \ub9ac\uc2a4\ud06c\uac00 \ud06c\ub2e4\ub294 \uc2dc\uc0ac\uc810\uc744 \uc900\ub2e4. \uc911\uc559\uc740\ud589\uc774 \ud658\uc728 \uacbd\ub85c\ub97c \ud1b5\uc81c\ud558\uaca0\ub2e4\ub294 \uc758\uc9c0\ub97c \ubd84\uba85\ud788 \ud558\uace0 \uc788\uc5b4, \uae09\uaca9\ud558\uace0 \ud070 \ud3ed\uc758 \ubcc0\ub3d9\uc774 \uc5b5\uc81c\ub420 \uac00\ub2a5\uc131\uc774 \ub192\uae30 \ub54c\ubb38\uc774\ub2e4. \uc774\uc5d0 \ub530\ub77c \uc5ed\uc678 \uc704\uc548(CNH) \uc635\uc158\uc5d0\uc11c \uc20f \uc2a4\ud2b8\ub798\ub4e4(short straddles) \ub4f1 \ubcc0\ub3d9\uc131 \ub9e4\ub3c4(\uc20f \ubcfc) \uc804\ub7b5\uc774 \uc720\ub9ac\ud560 \uc218 \uc788\ub2e4\ub294 \ud310\ub2e8\uc774\ub2e4.<\/p>\n

\uc720\uc0ac\ud55c \ud328\ud134\uc740 2022~2023\ub144\uc5d0\ub3c4 \uad00\ucc30\ub410\ub2e4. \ub2f9\uc2dc PBOC\ub294 \uacbd\uae30 \ubc29\uc5b4\ub97c \uc704\ud574 \uc2dc\uc7a5 \uc608\uc0c1\uc744 \ud558\ud68c\ud558\ub294(\uc704\uc548\ud654 \uc57d\uc138 \uc720\ub3c4) \uace0\uc2dc\ub97c \uc9c0\uc18d\uc801\uc73c\ub85c \uc81c\uc2dc\ud558\uba70 \uae00\ub85c\ubc8c \uc5ed\ud48d\uc744 \uc644\ucda9\ud558\ub824 \ud588\ub2e4. \ud604\uc7ac \ud658\uacbd \uc5ed\uc2dc \ubd80\uc9c4\ud55c \ub0b4\uc218 \ud68c\ubcf5\uacfc \ubd88\ud655\uc2e4\ud55c \ud574\uc678 \uc218\uc694\ub77c\ub294 \uc810\uc5d0\uc11c \ub2f9\uc2dc\uc640 \uc720\uc0ac\ud558\ub2e4. \uacfc\uac70 \uc0ac\ub840\ub294 PBOC\uac00 \uc2dc\uc7a5 \uc8fc\ub3c4\uc758 \uac15\uc138\ubcf4\ub2e4 \u2018\uc548\uc815\u2019\uc744 \uc6b0\uc120\ud558\uba70 \uac1c\uc785\uc744 \uc774\uc5b4\uac08 \uac00\ub2a5\uc131\uc744 \uc2dc\uc0ac\ud55c\ub2e4.<\/p>\n

\ub530\ub77c\uc11c \uc704\uc548\ud654\uac00 \uc608\uce21 \uac00\ub2a5\ud55c \ubc15\uc2a4\uad8c\uc5d0 \uba38\ubb3c\uac70\ub098 \uc644\ub9cc\ud55c \uc57d\uc138\ub97c \ubcf4\uc77c \ub54c \uc218\uc775\uc744 \ub0b4\ub294 \uc804\ub7b5\uc774 \uc0c1\ub300\uc801\uc73c\ub85c \ud569\ub9ac\uc801\uc774\ub2e4. \ud604 \uc218\uc900 \ub300\ube44 \uc18c\ud3ed \ub192\uc740 \ud589\uc0ac\uac00\uc758 USD\/CNH \uc7a5\uae30 \ucf5c\uc635\uc158\uc744 \ub9e4\uc218\ud558\ub294 \ubc29\uc2dd\uc740 \u2018\uad00\ub9ac\ub41c \uc57d\uc138\u2019\uc5d0 \uc800\ube44\uc6a9\uc73c\ub85c \ud3ec\uc9c0\uc154\ub2dd\ud560 \uc218 \uc788\ub294 \ub300\uc548\uc774 \ub420 \uc218 \uc788\ub2e4. \ub2e4\ub9cc \uad6d\ub0b4 \uc9c0\ud45c\uac00 \uc608\uc0c1\ubcf4\ub2e4 \uac15\ud558\uac8c \ub098\uc624\uba70 \uc815\ucc45 \uae30\uc870\uac00 \uae09\ubcc0\ud560 \uacbd\uc6b0\uc758 \ub9ac\uc2a4\ud06c\ub294 \uacbd\uacc4\ud560 \ud544\uc694\uac00 \uc788\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":"

\u201c\uc704\uc548 \uac15\uc138 \uc81c\ub3d9\u201d PBoC, \ub2ec\ub7ec\/\uc704\uc548 \uace0\uc2dc 6.8047\u2026\uc804\uc77c\ubcf4\ub2e4 \uac15\uc138\uc9c0\ub9cc \ucd94\uc815\uce58 \uc0c1\ud68c\ub85c \uc808\uc0c1 \uc18d\ub3c4 \uad00\ub9ac. \uc131\uc7a5\u00b7\uc218\ucd9c \ub454\ud654 \uc18d \ud658\uc728\uc548\uc815\u00b7\uc644\ub9cc \uc57d\uc138 \uc120\ud638, \ubcc0\ub3d9\uc131 \ub9e4\ub3c4 \uc720\ub9ac.<\/p>\n","protected":false},"author":87,"featured_media":50501,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[71],"tags":[],"class_list":["post-50784","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\/50784","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=50784"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/posts\/50784\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/media\/50501"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/media?parent=50784"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/categories?post=50784"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/tags?post=50784"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}