{"id":9745,"date":"2026-04-24T16:20:23","date_gmt":"2026-04-24T08:20:23","guid":{"rendered":"https:\/\/www.kpai1.cn\/?p=9745"},"modified":"2026-04-24T16:22:37","modified_gmt":"2026-04-24T08:22:37","slug":"%e6%ac%a7%e5%a4%ae%e8%a1%8c6%e6%9c%88%e5%8a%a0%e6%81%af%e5%87%a0%e6%88%90%e5%ae%9a%e5%b1%80%ef%bc%8c%e9%80%9a%e8%83%80-%e5%a2%9e%e9%95%bf%e4%b8%a4%e9%9a%be%e4%b8%8b%e6%94%bf%e7%ad%96%e8%b7%af","status":"publish","type":"post","link":"https:\/\/www.kpai1.cn\/ko\/\uc544\uce74\uc774\ube0c\/9745","title":{"rendered":"\uc720\ub7fd\uc911\uc559\uc740\ud589(ECB)\uc740 6\uc6d4 \uae08\ub9ac \uc778\uc0c1\uc774 \uac70\uc758 \ud655\uc2e4\uc2dc\ub418\uace0, \uc778\ud50c\ub808\uc774\uc158-\uc131\uc7a5 \ub51c\ub808\ub9c8\ub85c \uc778\ud574 \uc815\ucc45 \uacbd\ub85c\uac00 \ud06c\uac8c \ucc28\ubcc4\ud654\ub429\ub2c8\ub2e4."},"content":{"rendered":"<p>Wmax\ub294 \uc720\ub85c\uc874\uc758 \uace0\ube48\ub3c4 \uc778\ud50c\ub808\uc774\uc158 \ubaa8\ub2c8\ud130\ub9c1, \uc911\uc559\uc740\ud589 \uc815\ucc45 \uc804\ub9dd \ubaa8\ub378 \ubc0f \uc8fc\ub958 \uae30\uad00 \uc870\uc0ac\uc758 \u200b\u200b\ud1b5\ud569\uc5d0 \uc758\uc874\ud558\uba70, \uc911\ub3d9\uc758 \ucd5c\uc2e0 \uc9c0\uc815\ud559\uc801 \ubc0f \uc5d0\ub108\uc9c0 \uac00\uaca9 \ub3d9\ud5a5\uc744 \uacb0\ud569\ud558\uc5ec \uc720\ub7fd\uc911\uc559\uc740\ud589\uc758 \ud1b5\ud654 \uc815\ucc45 \uacbd\ub85c\uc5d0 \ub300\ud55c \uacb0\uc815\uc744 \ub0b4\ub9bd\ub2c8\ub2e4.<strong>\uba85\ud655\ud558\uace0 \uac80\uc99d \uac00\ub2a5\ud55c \uc804\ubb38\uc801\uc778 \uc608\uce21<\/strong>. \uc774\ub780 \uc804\uc7c1\uc73c\ub85c \ucd09\ubc1c\ub41c \uc5d0\ub108\uc9c0 \uac00\uaca9 \uae09\ub4f1\uc73c\ub85c \uc778\ud574 \uc720\ub7fd\uc911\uc559\uc740\ud589\uc740 \uc815\ucc45\uc744 \ubcc0\uacbd\ud558\uac8c \ub418\uc5c8\uc2b5\ub2c8\ub2e4.\\<em>\\4\uc6d4 30\uc77c\uc744 \ubcf4\ub958\ud558\uace0 6\uc6d4\uc5d0\ub294 \uae08\ub9ac\ub97c 25bp \uc778\uc0c1\ud558\uc5ec 2.25%\ub85c \uc124\uc815\ud569\ub2c8\ub2e4\\\\<\/em> \uae30\ubcf8 \uc2dc\ub098\ub9ac\uc624\uac00 \ub418\uc5c8\uc2b5\ub2c8\ub2e4. \uadf8\ub7ec\ub098 \uc57d\ud55c \uc131\uc7a5\uacfc \uc774\uc911 \uc5ed\uc0ac\uc801 \uad50\ud6c8\uc73c\ub85c \uc778\ud574 6\uc6d4 \uc774\ud6c4 \uc815\ucc45 \uacbd\ub85c\uac00 \ud06c\uac8c \ub2ec\ub77c\uc84c\uc73c\uba70 \uc911\uae30\uc801\uc73c\ub85c \uae08\ub9ac \uc778\ud558\uac00 \uc5ec\uc804\ud788 \uac00\ub2a5\ud569\ub2c8\ub2e4. \uc720\ub85c\uc874\uc740 \uc804\ud615\uc801\uc778 \uc2a4\ud0dc\uadf8\ud50c\ub808\uc774\uc158 \uc815\ucc45 \ub51c\ub808\ub9c8\uc5d0 \ube60\uc9c0\uace0 \uc788\ub2e4.<\/p>\n<p><a id=\"post-9745-heading_0\"><\/a><strong>6\uc6d4\uc758 \uc608\ubc29\uc801 \uae08\ub9ac \uc778\uc0c1\uc774 \uae30\uc900\uc120\uc774 \ub418\uc5c8\uc2b5\ub2c8\ub2e4.<\/strong><\/p>\n<p>Wmax \ucd94\uc801 \ub370\uc774\ud130\uc5d0 \ub530\ub974\uba74 \uc911\ub3d9 \ubd84\uc7c1\uc73c\ub85c \ube0c\ub80c\ud2b8\uc720 \ud3c9\uade0 \uac00\uaca9\uc774 \ubc30\ub7f4\ub2f9 100\ub2ec\ub7ec\uc5d0 \uac00\uae4c\uc6cc \uc720\ub7fd\uc911\uc559\uc740\ud589(ECB)\uc758 \ubca4\uce58\ub9c8\ud06c \uac00\uc815\uc778 90\ub2ec\ub7ec\ub97c \ub3cc\ud30c\ud588\uc73c\uba70, \uc720\ub85c\uc874 \uc778\ud50c\ub808\uc774\uc158\uc774 2\uc6d4 1.9%\uc5d0\uc11c 3\uc6d4 2.6%\ub85c \uae09\ub4f1\ud558\uc5ec \uc815\ucc45 \ubaa9\ud45c\uc778 2%\uc5d0\uc11c \ud06c\uac8c \ubc97\uc5b4\ub098\uace0 2\ucc28 \uc778\ud50c\ub808\uc774\uc158 \uc704\ud5d8\uc774 \uacc4\uc18d \uc99d\uac00\ud558\uace0 \uc788\ub294 \uac83\uc73c\ub85c \ub098\ud0c0\ub0ac\uc2b5\ub2c8\ub2e4.<\/p>\n<p>Reuters\uc640 Bloomberg\uc758 \ucd5c\uc2e0 \uc124\ubb38 \uc870\uc0ac \uacb0\uacfc\ub97c \ud1b5\ud569\ud558\uc5ec Wmax\ub294 \ud569\uc758\ub41c \uc2dc\uc7a5 \uae30\ub300\uce58\ub97c \ud655\uc778\ud569\ub2c8\ub2e4.<\/p>\n<ol>\n<li>4\uc6d4 30\uc77c \ud68c\uc758: \uac70\uc758 \ubaa8\ub4e0 \uc774\ucf54\ub178\ubbf8\uc2a4\ud2b8\ub4e4\uc740 \uc608\uae08 \uae08\ub9ac\uac00 \ub3d9\uacb0\ub420 \uac83\uc73c\ub85c \uc608\uc0c1\ud569\ub2c8\ub2e4.<strong>2% \ubd88\ubcc0<\/strong>, \uc720\ub7fd \uc911\uc559 \uc740\ud589\uc740 \ud604\uc7ac \uc5d0\ub108\uc9c0 \ucda9\uaca9\uc758 \uc644\uc804\ud55c \uc804\ub2ec \ud6a8\uacfc\ub97c \ud655\uc778\ud560 \ub9cc\ud07c \ucda9\ubd84\ud55c \ub370\uc774\ud130\ub97c \uac16\uace0 \uc788\uc9c0 \uc54a\uc2b5\ub2c8\ub2e4.<\/li>\n<li>6\uc6d4 \ud68c\uc758: \uc751\ub2f5\uc790 \uc808\ubc18 \uc774\uc0c1\uc774 \uae08\ub9ac\uc778\uc0c1 \uc9c0\uc9c0<strong>25 \ubca0\uc774\uc2dc\uc2a4 \ud3ec\uc778\ud2b8<\/strong>, \ud3ed\uc8fc\ud558\ub294 \uc778\ud50c\ub808\uc774\uc158\uc744 \ubc29\uc9c0\ud558\ub294 \ubc29\ubc95\uc73c\ub85c \uac04\uc8fc\ub429\ub2c8\ub2e4.<strong>\ubcf4\ud5d8 \uc6b4\uc601<\/strong>, \uc2dc\uc7a5\uc740 \uc62c\ud574 \uc801\uc5b4\ub3c4 \ud55c \ubc88\uc758 \uae08\ub9ac \uc778\uc0c1\uc744 \uac00\uaca9\uc5d0 \ubc18\uc601\ud588\uc2b5\ub2c8\ub2e4.<\/li>\n<\/ol>\n<p>Wmax\ub294 \uc774\ub7ec\ud55c \uc815\ucc45 \ubcc0\ud654\uac00 \uc9c0\ub09c \ub2ec\ubd80\ud130 \uadfc\ubcf8\uc801\uc778 \ubcc0\ud654\ub97c \uacaa\uc5c8\ub2e4\uace0 \uc9c0\uc801\ud588\uc2b5\ub2c8\ub2e4. \uc774\uc804\uc5d0\ub294 \ub300\ubd80\ubd84\uc758 \uae30\uad00\uc774 \uae08\ub9ac\uac00 \uc77c\ub144 \ub0b4\ub0b4 \ubcc0\ud558\uc9c0 \uc54a\uc744 \uac83\uc73c\ub85c \uc608\uc0c1\ud588\uc73c\uba70, \uc5d0\ub108\uc9c0 \ucda9\uaca9\uc73c\ub85c \uc778\ud574 ECB\uc758 \uc815\ucc45 \uac00\uc911\uce58 \uccb4\uacc4\uac00 \uc644\uc804\ud788 \ub2e4\uc2dc \uc791\uc131\ub418\uc5c8\uc2b5\ub2c8\ub2e4.<\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" width=\"1029\" height=\"517\" class=\"wp-image-9747\" src=\"https:\/\/www.kpai1.cn\/wp-content\/uploads\/2026\/04\/20260424_153705.png\" alt=\"\ubd80\ubd84\ucc28\ub2e8_20260424_153705\" srcset=\"https:\/\/www.kpai1.cn\/wp-content\/uploads\/2026\/04\/20260424_153705.png 1029w, https:\/\/www.kpai1.cn\/wp-content\/uploads\/2026\/04\/20260424_153705-300x151.png 300w, https:\/\/www.kpai1.cn\/wp-content\/uploads\/2026\/04\/20260424_153705-1024x514.png 1024w, https:\/\/www.kpai1.cn\/wp-content\/uploads\/2026\/04\/20260424_153705-768x386.png 768w, https:\/\/www.kpai1.cn\/wp-content\/uploads\/2026\/04\/20260424_153705-18x9.png 18w, https:\/\/www.kpai1.cn\/wp-content\/uploads\/2026\/04\/20260424_153705-900x452.png 900w, https:\/\/www.kpai1.cn\/wp-content\/uploads\/2026\/04\/20260424_153705-600x301.png 600w\" sizes=\"(max-width: 1029px) 100vw, 1029px\" \/><\/p>\n<p><a id=\"post-9745-heading_1\"><\/a><strong>\uba85\ud655\ud55c \uc608\uce21: \ud5a5\ud6c4 1~2\ub144 \ub3d9\uc548\uc758 ECB \uc815\ucc45 \uacbd\ub85c<\/strong><\/p>\n<p>\uc9c0\ub9ac, \uc778\ud50c\ub808\uc774\uc158, \uc131\uc7a5\uc758 3\ucc28\uc6d0 \ubaa8\ub378\uc744 \uacb0\ud569\ud558\uc5ec,<strong>Wmax\ub294 \uc720\ub7fd\uc911\uc559\uc740\ud589\uc5d0 \ub300\ud55c \uad6c\uccb4\uc801\uc778 \uc2dc\uae30\uc640 \ubc94\uc704 \uc608\uce21\uc744 \uc81c\uacf5\ud569\ub2c8\ub2e4.<\/strong>\uff1a<\/p>\n<ol>\n<li><strong>4\uc6d4 30\uc77c(\ud655\uc815)<\/strong>: \uc608\uae08\uae08\ub9ac \uc720\uc9c0<strong>2.00% \ubd88\ubcc0<\/strong>, \uae08\ub9ac \uc778\uc0c1\uc5d0 \ub300\ud55c \uba85\ud655\ud55c \uc77c\uc815\uc744 \uacf5\uac1c\ud558\uc9c0 \uc54a\uc558\uc73c\uba70 \ub370\uc774\ud130 \uc758\uc874\uc131\uacfc \uc778\ud50c\ub808\uc774\uc158 \uc704\ud5d8 \ubaa8\ub2c8\ud130\ub9c1\uc744 \uac15\uc870\ud588\uc2b5\ub2c8\ub2e4.<\/li>\n<li><strong>6\uc6d4(\ub9e4\uc6b0 \ud655\uc2e4\ud568)<\/strong>: \uae08\ub9ac \uc778\uc0c1<strong>25 \ubca0\uc774\uc2dc\uc2a4 \ud3ec\uc778\ud2b8<\/strong>\uc5d0\uac8c<strong>2.25%<\/strong>, \uc5d0\ub108\uc9c0 \uc778\ud50c\ub808\uc774\uc158\uacfc \uc5ec\ub860 \uc555\ub825\uc5d0 \ub300\uc751\ud558\uc5ec \uc77c\ud68c\uc131 \"\ubcf4\ud5d8 \uae08\ub9ac \uc778\uc0c1\"\uc785\ub2c8\ub2e4.<\/li>\n<li><strong>9\uc6d4(\uae08\ub9ac\uc778\uc0c1 \uc5c6\uc744 \uac00\ub2a5\uc131 \ub192\uc74c)<\/strong>: \uc778\ud50c\ub808\uc774\uc158\uc774 \ub2e4\uc2dc \ud558\ub77d\ud560 \uacbd\uc6b0 \uacbd\uae30 \ub454\ud654 \uc555\ub825\uc774 \ub098\ud0c0\ub0a9\ub2c8\ub2e4.<strong>2.3% \uc774\ub0b4<\/strong>, \uc720\ub7fd\uc911\uc559\uc740\ud589\uc740 \uae34\ucd95\uc744 \uc911\ub2e8\ud560 \uc608\uc815\uc774\ub2e4.<\/li>\n<li><strong>2027\ub144 2~3\ubd84\uae30(\uae08\ub9ac \uc778\ud558 \uac00\ub2a5\uc131 \ub192\uc74c)<\/strong>: 1\ucc28 \uae08\ub9ac \uc778\ud558<strong>25 \ubca0\uc774\uc2dc\uc2a4 \ud3ec\uc778\ud2b8<\/strong>\ub85c \ub3cc\uc544\uac00\ub2e4<strong>2.00%<\/strong>, \uc57d\ud55c \uc131\uc7a5\uacfc \ud558\ub77d\ud558\ub294 \uc778\ud50c\ub808\uc774\uc158\uc5d0 \ub300\ucc98\ud558\uae30 \uc704\ud574.<\/li>\n<li><strong>\ucd5c\uc885 \uc774\uc790\uc728<\/strong>: \uc774 \uc8fc\uae30\uc758 \ucd5c\uace0\uac12\uc774 \uace0\uc815\ub429\ub2c8\ub2e4.<strong>2.25%<\/strong>, \uc9c0\uc18d\uc801\uc778 \uae08\ub9ac \uc778\uc0c1\uc8fc\uae30\ub97c \uc2dc\uc791\ud558\uc9c0 \uc54a\uc2b5\ub2c8\ub2e4.<\/li>\n<\/ol>\n<p>Wmax\ub294 \ub2e4\uc74c\uacfc \uac19\uc774 \uac15\uc870\ud569\ub2c8\ub2e4. \uc774\ubc88 \uae08\ub9ac \uc778\uc0c1\uc740<strong>\uc608\ubc29\uc801, \uc77c\ud68c\uc131, \ube44\uc8fc\uae30\uc801 \uac1c\ubc29<\/strong>\uc774 \uc791\uc5c5\uc740 \uacb0\ucf54 \uc0c8\ub85c\uc6b4 \ub2e8\uacc4\uc758 \uae09\uc9c4\uc801\uc778 \uc870\uc784\uc774 \uc544\ub2d9\ub2c8\ub2e4.<\/p>\n<p><a id=\"post-9745-heading_2\"><\/a><strong>\uc5ed\uc0ac\uc801 \uad50\ud6c8\uc758 \uc81c\uc57d: '\uc778\ud50c\ub808\uc774\uc158 \ubc29\uc9c0'\uc640 '\uacbd\uae30 \uce68\uccb4 \ubc29\uc9c0' \uc0ac\uc774\uc5d0\uc11c \uc2e0\uc911\ud558\uac8c \uac8c\uc784\uc744 \uc9c4\ud589\ud558\uc138\uc694.<\/strong><\/p>\n<p>Wmax \ub9e4\ud06c\ub85c \uc5f0\uad6c\ud300\uc740 \ud604\uc7ac \uc720\ub7fd\uc911\uc559\uc740\ud589\uc758 \uc758\uc0ac\uacb0\uc815\uc774 \uc774\uc911\uc758 \uc5ed\uc0ac\uc801 \uadf8\ub9bc\uc790\uc5d0 \uae4a\uc740 \uc601\ud5a5\uc744 \ubc1b\uace0 \uc788\uc73c\uba70, \uc774\ub294 '\ub370\uc774\ud130\ub97c \uae30\ub2e4\ub9ac\uba70 \ucc9c\ucc9c\ud788 \uc6c0\uc9c1\uc778\ub2e4'\ub97c \uc120\ud0dd\ud55c \ud575\uc2ec \uc774\uc720\uc774\uae30\ub3c4 \ud568\uc744 \uac15\uc870\ud588\ub2e4.<\/p>\n<ul>\n<li>2022\ub144\uc5d0 \ubb34\uc2a8 \uc77c\uc774 \uc77c\uc5b4\ub0a0\uc9c0 \uc8fc\uc758\ud558\uc138\uc694. \ub290\ub9b0 \ub300\uc751\uc73c\ub85c \uc778\ud574 \uc778\ud50c\ub808\uc774\uc158\uc774 \uc644\uc804\ud788 \ud1b5\uc81c \ubd88\ub2a5 \uc0c1\ud0dc\uac00 \ub418\uc5b4 \uc774\ud6c4\uc5d0 \uae09\uaca9\ud55c \uae34\ucd95\uc774 \ucd08\ub798\ub420 \uac83\uc744 \uac71\uc815\ud569\ub2c8\ub2e4.<\/li>\n<li>2011\ub144\uc758 \uad50\ud6c8\uc744 \ud53c\ud558\uc2ed\uc2dc\uc624. \uc6d0\uc790\uc7ac \uac00\uaca9\uc73c\ub85c \uc778\ud574 \uae08\ub9ac\ub97c \ub108\ubb34 \ube68\ub9ac \uc778\uc0c1\ud558\uace0, \uc720\ub85c\uc874\uc758 \uc131\uc7a5\uacfc \ubd80\ucc44 \uc555\ub825\uc744 \uc545\ud654\uc2dc\ud0a4\uba70, \uacb0\uad6d \uc815\ucc45\uc744 \uc2e0\uc18d\ud558\uac8c \uc804\ud658\ud574\uc57c \ud558\ub294 \uc0c1\ud669\uc744 \ud53c\ud558\uc2ed\uc2dc\uc624.<\/li>\n<\/ul>\n<p>WMAX\ub294 6\uc6d4 \uae08\ub9ac \uc778\uc0c1\uc758 \ubcf8\uc9c8\uc740 \ub2e4\uc74c\uacfc \uac19\ub2e4\uace0 \ubcf8\ub2e4.<strong>\ud0c0\ud611<\/strong>: \uc778\ud50c\ub808\uc774\uc158 \uae30\ub300 \uc548\uc815\uc744 \uc704\ud574 \ub9e4\ud30c\uc801 \uc785\uc7a5\uc744 \ub0b4\ub193\uc744 \ubfd0\ub9cc \uc544\ub2c8\ub77c, \uc5d0\ub108\uc9c0 \ucda9\uaca9\uc774 \uacbd\uc81c\uc5d0 \ubbf8\uce58\ub294 \uc2e4\uc81c \uc601\ud5a5\uc744 \ud3c9\uac00\ud560 \uc218 \uc788\ub294 \ucda9\ubd84\ud55c \uc2dc\uac04\uc744 \ud655\ubcf4\ud55c \uac83\uc740 \u201c\uacfc\ub3c4\ud55c \uc778\ud50c\ub808\uc774\uc158\uc744 \ubb34\uc2dc\ud558\uc9c0\ub3c4 \uc54a\uace0, \uacbd\uc194\ud558\uac8c \ud589\ub3d9\ud558\uc9c0\ub3c4 \uc54a\ub294\ub2e4\u201d\ub294 \ub77c\uac00\ub974\ub4dc\uc758 \ubc1c\uc5b8 \ub17c\ub9ac\uc640 \ub9e5\uc744 \uac19\uc774\ud55c\ub2e4.<\/p>\n<p><img decoding=\"async\" width=\"1024\" height=\"522\" class=\"wp-image-9748\" src=\"https:\/\/www.kpai1.cn\/wp-content\/uploads\/2026\/04\/20260424_154607.png\" alt=\"\ubd80\ubd84\ucc28\ub2e8_20260424_154607\" srcset=\"https:\/\/www.kpai1.cn\/wp-content\/uploads\/2026\/04\/20260424_154607.png 1024w, https:\/\/www.kpai1.cn\/wp-content\/uploads\/2026\/04\/20260424_154607-300x153.png 300w, https:\/\/www.kpai1.cn\/wp-content\/uploads\/2026\/04\/20260424_154607-768x392.png 768w, https:\/\/www.kpai1.cn\/wp-content\/uploads\/2026\/04\/20260424_154607-18x9.png 18w, https:\/\/www.kpai1.cn\/wp-content\/uploads\/2026\/04\/20260424_154607-900x459.png 900w, https:\/\/www.kpai1.cn\/wp-content\/uploads\/2026\/04\/20260424_154607-600x306.png 600w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/p>\n<p><a id=\"post-9745-heading_3\"><\/a><strong>\uc2a4\ud0dc\uadf8\ud50c\ub808\uc774\uc158\uc774 \ub2e4\uac00\uc624\uace0 \uc788\uc73c\uba70, \ud6c4\uc18d \uc815\ucc45 \ud569\uc758\ub294 \ube60\ub974\uac8c \uc18c\uba78\ub418\uace0 \uc788\uc2b5\ub2c8\ub2e4.<\/strong><\/p>\n<p>Wmax \uacc4\uc0b0\uc5d0 \ub530\ub974\uba74 \ub192\uc740 \uc5d0\ub108\uc9c0 \uac00\uaca9\uc73c\ub85c \uc778\ud574 \uc720\ub85c\uc874\uc758 \ud380\ub354\uba58\ud0c8\uc774 \ud06c\uac8c \ud558\ub77d\ud588\uc73c\uba70 \uc9c0\uc18d\uc801\uc778 \uc815\ucc45 \uac15\ud654 \uc5ec\uc9c0\uac00 \ud06c\uac8c \uc904\uc5b4\ub4e4\uc5c8\uc2b5\ub2c8\ub2e4.<\/p>\n<p>\uc131\uc7a5 \uce21\uba74: 2026\ub144 \uc720\ub85c\uc874 GDP \uc131\uc7a5 \uc804\ub9dd\uc740<strong>0.9%<\/strong>, \ub3c5\uc77c\uacfc \ud504\ub791\uc2a4\uc758 \ub450 \ud575\uc2ec \uacbd\uc81c\uc758 \uc131\uc7a5\ub960\uc740<strong>0.7%, 0.9%<\/strong>, \uc18c\ube44 \ubc0f \ud22c\uc790 \uc2e0\ub8b0\ub3c4\uac00 \uacc4\uc18d \uc57d\ud654\ub418\uace0 \uc788\uc2b5\ub2c8\ub2e4.<\/p>\n<p>\uc778\ud50c\ub808\uc774\uc158: \uc751\ub2f5\uc790\uc758 \uc57d 90%\ub294 \uc778\ud50c\ub808\uc774\uc158\uc774 \uc911\uae30\uc801\uc73c\ub85c \ubaa9\ud45c\ubcf4\ub2e4 \uacc4\uc18d \ub192\uc544\uc9c8 \uac83\uc774\ub77c\uace0 \uc6b0\ub824\ud558\uace0 \uc788\uc2b5\ub2c8\ub2e4. \ud558\uc9c0\ub9cc \uc720\uac00\uac00 \ud558\ub77d\ud560 \uacbd\uc6b0 2\ucc28 \ud6a8\uacfc\uac00 \ub098\ud0c0\ub098\uc9c0 \uc54a\uc744 \uc218\ub3c4 \uc788\ub2e4.<\/p>\n<p>\uc774\ub7ec\ud55c \ubc30\uacbd\uc5d0\uc11c \uc815\ucc45 \uacbd\ub85c\uc758 \ucc28\uc774\ub294 6\uc6d4 \uc774\ud6c4 \uae09\uaca9\ud788 \ud655\ub300\ub418\uc5c8\uc2b5\ub2c8\ub2e4.<\/p>\n<ul>\n<li>\uacbd\uc81c\ud559\uc790\uc758 \uc57d 40%\ub9cc\uc774 \uc704\ud5d8\uc744 \uc0ac\uc804\uc5d0 \uc608\ubc29\ud574\uc57c \ud55c\ub2e4\uace0 \ubbff\uc73c\uba70 \uc5f0\uc911 \uacc4\uc18d\ud574\uc11c \uae08\ub9ac\ub97c \uc778\uc0c1\ud558\ub294 \uac83\uc744 \uc9c0\uc9c0\ud569\ub2c8\ub2e4.<\/li>\n<li>\ub300\ubd80\ubd84\uc758 \uae30\uad00\ub4e4\uc740 6\uc6d4 \uae08\ub9ac \uc778\uc0c1\uc774 \uc885\ucc29\uc810\uc774 \ub420 \uac83\uc774\uba70, \uacbd\uae30 \uce68\uccb4\ub85c \uc778\ud574 \uae08\ub9ac \uc778\uc0c1 \ucc3d\uad6c\uac00 \ube60\ub974\uac8c \ub2eb\ud790 \uac83\uc774\ub77c\uace0 \ubbff\uace0 \uc788\uc2b5\ub2c8\ub2e4.<\/li>\n<\/ul>\n<p>Wmax\ub294 \uc720\ub85c\uc874\uc774 \uc704\uae30\uc5d0 \ucc98\ud574 \uc788\ub2e4\uace0 \uacbd\uace0\ud569\ub2c8\ub2e4.<strong>\ub192\uc740 \uc778\ud50c\ub808\uc774\uc158 + \ub0ae\uc740 \uc131\uc7a5<\/strong>\uc608\uc0c1\uce58 \ubabb\ud55c \uc9c0\uc815\ud559\uc801, \uc5d0\ub108\uc9c0 \ubcc0\ub3d9\uc73c\ub85c \uc778\ud574 \uae08\ub9ac \uc778\uc0c1 \uacc4\ud68d\uc774 \uace7\ubc14\ub85c \ubcf4\ub958\ub420 \uc218\ub3c4 \uc788\uc2b5\ub2c8\ub2e4.<\/p>\n<p><a id=\"post-9745-heading_4\"><\/a><strong>\uc9c0\ub9ac\uc801 \uc694\uc778\uc774 \ub2e8\uae30 \uc18d\ub3c4\ub97c \uc9c0\ubc30\ud558\uba70 2027\ub144\uc5d0 \uae08\ub9ac \uc778\ud558\uac00 \uc7ac\uac1c\ub420 \uc218 \uc788\uc2b5\ub2c8\ub2e4.<\/strong><\/p>\n<p>\uc911\ub3d9\uc758 \ud734\uc804 \uc9c4\ud589 \uc0c1\ud669\uacfc \uae30\uad00\ub4e4\uc758 \ud569\uc758\ub41c \uae30\ub300\ub97c \uacb0\ud569\ud558\uc5ec Wmax\ub294 \ub2e4\uc74c\uacfc \uac19\uc740 \uc8fc\uc694 \ud310\ub2e8\uc744 \ub0b4\ub9bd\ub2c8\ub2e4.<\/p>\n<ol>\n<li><strong>\ub2e8\uae30 \ud575\uc2ec\ubcc0\uc218<\/strong>: \ud638\ub974\ubb34\uc988 \ud574\ud611 \ud56d\ud574 \ud68c\ubcf5 \uc18d\ub3c4\uc640 \uc720\uac00 \ucd94\uc138. \ubd84\uc7c1\uc774 \ube60\ub974\uac8c \uc644\ud654\ub418\uace0 \uc720\uac00\uac00 \ud558\ub77d\ud55c\ub2e4\uba74 \uc720\ub7fd\uc911\uc559\uc740\ud589\uc740 6\uc6d4 \uae08\ub9ac \uc778\uc0c1\uc744 \uac74\ub108\ub6f8 \uc218\ub3c4 \uc788\uc2b5\ub2c8\ub2e4. \uc5d0\ub108\uc9c0 \uac00\uaca9\uc774 \uc5ec\uc804\ud788 \ub192\uc744 \uacbd\uc6b0 \uc608\ubc29\uc801\uc778 \uae08\ub9ac \uc778\uc0c1\uc774 \uc2dc\ud589\ub420 \uac83\uc785\ub2c8\ub2e4.<\/li>\n<li><strong>\uc911\uae30 \uc815\ucc45 \uacbd\ub85c<\/strong>: 6\uc6d4 \uae08\ub9ac \uc778\uc0c1\uc744 \uc608\uce21\ud55c \uc751\ub2f5\uc790 \uc911 \uc808\ubc18\uc740 \uc720\ub7fd\uc911\uc559\uc740\ud589\uc774 2027\ub144 \ub9d0 \uc774\uc804\uc5d0 \uc801\uc5b4\ub3c4 \ud55c \ubc88 \uae08\ub9ac\ub97c \uc778\ud558\ud560 \uac83\uc73c\ub85c \ubbff\uace0 \uc788\uc2b5\ub2c8\ub2e4. \uae34\ucd95\uc774 \uacbd\uc81c\uc5d0 \ubbf8\uce58\ub294 \uc601\ud5a5\uc774 \uc9c0\uc5f0\ub418\uba74\uc11c \uc815\ucc45 \uc804\ud658\uc774 \ubd88\uac00\ud53c\ud574 \uc608\uae08 \uae08\ub9ac\uac00 2%\ub300\ub85c \ub3cc\uc544\uac08 \uc218\ub3c4 \uc788\uc2b5\ub2c8\ub2e4.<\/li>\n<li><strong>\uc778\ub825\uacfc \ud655\uc2e4\uc131<\/strong>: \uacbd\uc81c\ud559\uc790 \uc911 \uc57d 80%\ub294 \ub77c\uac00\ub974\ub4dc\uac00 2027\ub144\uae4c\uc9c0 \uc784\uae30\ub97c \ub9c8\uce60 \uac83\uc73c\ub85c \uc608\uc0c1\ud558\uace0 \uc788\ub2e4. \uc815\ucc45 \uc5f0\uc18d\uc131\uc740 \uac1c\uc120\ub420 \uac83\uc73c\ub85c \uc608\uc0c1\ub418\uba70 \uae30\ub300\uce58\ub97c \ud06c\uac8c \uc6c3\ub3cc \uac00\ub2a5\uc131\uc740 \ub0ae\ub2e4.<\/li>\n<\/ol>\n<p><img decoding=\"async\" width=\"1038\" height=\"521\" class=\"wp-image-9749\" src=\"https:\/\/www.kpai1.cn\/wp-content\/uploads\/2026\/04\/20260424_154013.png\" alt=\"\ubd80\ubd84\ucc28\ub2e8_20260424_154013\" srcset=\"https:\/\/www.kpai1.cn\/wp-content\/uploads\/2026\/04\/20260424_154013.png 1038w, https:\/\/www.kpai1.cn\/wp-content\/uploads\/2026\/04\/20260424_154013-300x151.png 300w, https:\/\/www.kpai1.cn\/wp-content\/uploads\/2026\/04\/20260424_154013-1024x514.png 1024w, https:\/\/www.kpai1.cn\/wp-content\/uploads\/2026\/04\/20260424_154013-768x385.png 768w, https:\/\/www.kpai1.cn\/wp-content\/uploads\/2026\/04\/20260424_154013-18x9.png 18w, https:\/\/www.kpai1.cn\/wp-content\/uploads\/2026\/04\/20260424_154013-900x452.png 900w, https:\/\/www.kpai1.cn\/wp-content\/uploads\/2026\/04\/20260424_154013-600x301.png 600w\" sizes=\"(max-width: 1038px) 100vw, 1038px\" \/><\/p>\n<p><strong>Wmax \ud575\uc2ec \uc694\uc57d<\/strong><\/p>\n<p>\uc720\ub7fd\uc911\uc559\uc740\ud589(European Central Bank)\uc774 \ubd84\uba85\ud788 \uc9c4\uc785\ud588\uc2b5\ub2c8\ub2e4.<strong>\uc218\ub3d9\uc801 \uc870\uc784 \ubc0f \uc2e0\uc911\ud55c \uac8c\uc784<\/strong>\uc774 \uc0c8\ub85c\uc6b4 \uc815\ucc45 \ub2e8\uacc4\ub294 \uc720\ub85c\uc874 \uc778\ud50c\ub808\uc774\uc158 \ub370\uc774\ud130, \uacbd\uc81c \uc131\uc7a5 \uc608\uce21 \ubc0f \uc911\uc559\uc740\ud589 \uc815\ucc45 \ub17c\ub9ac\ub97c \uae30\ubc18\uc73c\ub85c \ud55c Wmax\uc758 \ud3ec\uad04\uc801\uc778 \uc5f0\uad6c \ubc0f \ud310\ub2e8\uc744 \uae30\ubc18\uc73c\ub85c \ud569\ub2c8\ub2e4. \uc815\ucc45 \uc131\uaca9\uc73c\ub85c \ubcfc \ub54c 6\uc6d4 \uc608\uc815\ub41c 25bp \uae08\ub9ac \uc778\uc0c1\uc740 \uacb0\ucf54 \uc0c8\ub85c\uc6b4 \uae09\uc9c4\uc801 \uae34\ucd95 \uc0ac\uc774\ud074\uc758 \uc2dc\uc791\uc774 \uc544\ub2c8\ub77c \uc911\ub3d9 \uac08\ub4f1\uc73c\ub85c \uc778\ud55c \uc5d0\ub108\uc9c0 \uc778\ud50c\ub808\uc774\uc158\uc5d0 \ub300\ucc98\ud558\uae30 \uc704\ud55c \uc77c\ud68c\uc131 '\ubcf4\ud5d8 \uc6b4\uc6a9'\uc5d0 \ubd88\uacfc\ud558\ub2e4. \ud575\uc2ec \ubaa9\uc801\uc740 \uc2dc\uc7a5 \uc778\ud50c\ub808\uc774\uc158 \uae30\ub300\ub97c \uc548\uc815\uc2dc\ud0a4\uace0, \ubb3c\uac00 \uc0c1\uc2b9\uc5d0 \ub300\ud55c \ub300\uc911\uc758 \uc6b0\ub824\uc5d0 \ub300\uc751\ud558\uba70, \uacfc\ub3c4\ud55c \uae34\ucd95 \uc815\ucc45\uc73c\ub85c \uc778\ud574 \uc774\ubbf8 \uc57d\ud55c \uacbd\uc81c \uc131\uc7a5\uc774 \ub354 \uc774\uc0c1 \ud558\ub77d\ud558\ub294 \uac83\uc744 \ubc29\uc9c0\ud558\ub294 \uac83\uc785\ub2c8\ub2e4. \uc774\ub294 ECB\uc758 '\ud0c0\ud611 \uade0\ud615'\uc5d0 \ub300\ud55c Wmax\uc758 \uc774\uc804 \uc815\ucc45 \uc608\uce21\uacfc \uc644\uc804\ud788 \uc77c\uce58\ud569\ub2c8\ub2e4.<\/p>\n<p>Wmax\ub294 \ud56d\uc0c1 \uac80\uc99d \uac00\ub2a5\ud55c \ub370\uc774\ud130\uc640 \ud0c4\ud0c4\ud55c \ud380\ub354\uba58\ud138\uc744 \ud575\uc2ec \uc5f0\uad6c \uae30\ubc18\uc73c\ub85c \uace0\uc218\ud558\uace0, \ud604\uc2e4\uacfc \ub3d9\ub5a8\uc5b4\uc9c4 \uc8fc\uad00\uc801\uc778 \uc608\uce21\uc744 \uac70\ubd80\ud558\uba70, \ud604\uc7ac \uc2dc\uc7a5 \uc5ed\ud559\uacfc \uc815\ucc45 \ud658\uacbd\uc744 \uacb0\ud569\ud558\uc5ec \uc2dc\uc7a5\uc774 \uc138 \uac00\uc9c0 \ud575\uc2ec \ubcc0\uc218\uc5d0 \uc9d1\uc911\ud558\ub3c4\ub85d \uba85\ud655\ud558\uac8c \uc0c1\uae30\uc2dc\ud0b5\ub2c8\ub2e4. \ub458\uc9f8, 6\uc6d4 \uc720\ub85c\uc874 \uc778\ud50c\ub808\uc774\uc158 \ub370\uc774\ud130\uc5d0 \ub530\ub974\uba74 \ud575\uc2ec \uc778\ud50c\ub808\uc774\uc158 \ucd94\uc138\uac00 \uc815\ucc45 \uacbd\ub85c\uc5d0 \uc601\ud5a5\uc744 \ubbf8\uce60 \uac83\uc785\ub2c8\ub2e4. \uc14b\uc9f8, \uc5d0\ub108\uc9c0 \uc778\ud50c\ub808\uc774\uc158\uc758 \ud575\uc2ec \uc720\ubc1c \uc694\uc778\uc778 \uc911\ub3d9 \uc815\uc138\uc640 \uc720\uac00 \ucd94\uc774\ub294 \uc815\ucc45 \uc870\uc815 \uc5ec\uc9c0\ub97c \uc9c1\uc811\uc801\uc73c\ub85c \uacb0\uc815\ud558\uba70, Wmax\uac00 \uc9c0\uc18d\uc801\uc73c\ub85c \ucd94\uc801\ud558\ub294 \ucd08\uc810\uc774\uae30\ub3c4 \ud569\ub2c8\ub2e4. \uc138 \uac00\uc9c0 \uc8fc\uc694 \ubcc0\uc218\ub294 \uc11c\ub85c \uc5f0\uad00\ub418\uc5b4 \uc788\uc73c\uba70 \ud5a5\ud6c4 \uba87 \ub2ec\uac04 \uc720\ub7fd\uc911\uc559\uc740\ud589\uc758 \uc815\ucc45 \uc18d\ub3c4\ub97c \uacf5\ub3d9\uc73c\ub85c \uacb0\uc815\ud569\ub2c8\ub2e4. \uc774\ub294 \ud22c\uc790\uc790 \ub808\uc774\uc544\uc6c3\uc758 \ud575\uc2ec \ucc38\uc870 \uc790\ub8cc\uc785\ub2c8\ub2e4.<\/p>","protected":false},"excerpt":{"rendered":"<p>\uc911\ub3d9 \ubd84\uc7c1\uc73c\ub85c \uc778\ud574 \uc5d0\ub108\uc9c0 \uac00\uaca9\uc774 \uc0c1\uc2b9\ud588\uace0, \uc720\ub85c\uc874\uc758 \uc778\ud50c\ub808\uc774\uc158\uc740 1.9%\uc5d0\uc11c 2.6%\ub85c \uae09\ub4f1\ud588\uc2b5\ub2c8\ub2e4. \uc720\ub7fd\uc911\uc559\uc740\ud589(European Central Bank)\uc774 6\uc6d4\uc5d0 \uae08\ub9ac\ub97c 2.25%\ub85c 25bp \uc778\uc0c1\ud558\uace0 4\uc6d4 30\uc77c \uae08\ub9ac\ub97c \ub3d9\uacb0\ud560 \uac83\uc774\ub77c\ub294 \uc810\uc740 \uac70\uc758 \ud655\uc2e4\ud569\ub2c8\ub2e4. \uc774\ub294 \uc608\ubc29\uc801\uc778 \uc77c\ud68c\uc131 \uc870\uce58\uc774\uc9c0 \uc0c8\ub85c\uc6b4 \uae34\ucd95 \uc8fc\uae30\uac00 \uc544\ub2d9\ub2c8\ub2e4. \uc2a4\ud0dc\uadf8\ud50c\ub808\uc774\uc158\uc774 \ub2e4\uac00\uc624\uace0 \uc788\uc73c\uba70, 2026\ub144\uc5d0\ub294 GDP \uc131\uc7a5\ub960\uc774 0.9%\ub85c \uac10\uc18c\ud558\uace0, 2027\ub144\uc5d0\ub294 \uae08\ub9ac \uc778\ud558\uac00 \uc7ac\uac1c\ub420 \uc218\ub3c4 \uc788\uc2b5\ub2c8\ub2e4. 4\uc6d4 \ud68c\uc758 \uc9c0\uce68, 6\uc6d4 \uc778\ud50c\ub808\uc774\uc158 \ub370\uc774\ud130 \ubc0f \uc720\uac00 \ub3d9\ud5a5\uc5d0 \uc8fc\ubaa9\ud558\uc138\uc694.<\/p>","protected":false},"author":1,"featured_media":9746,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[121],"tags":[943,738,944,942],"class_list":["post-9745","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financial-news","tag-943","tag-738","tag-944","tag-942"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.kpai1.cn\/ko\/wp-json\/wp\/v2\/posts\/9745","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.kpai1.cn\/ko\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.kpai1.cn\/ko\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.kpai1.cn\/ko\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.kpai1.cn\/ko\/wp-json\/wp\/v2\/comments?post=9745"}],"version-history":[{"count":1,"href":"https:\/\/www.kpai1.cn\/ko\/wp-json\/wp\/v2\/posts\/9745\/revisions"}],"predecessor-version":[{"id":9750,"href":"https:\/\/www.kpai1.cn\/ko\/wp-json\/wp\/v2\/posts\/9745\/revisions\/9750"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.kpai1.cn\/ko\/wp-json\/wp\/v2\/media\/9746"}],"wp:attachment":[{"href":"https:\/\/www.kpai1.cn\/ko\/wp-json\/wp\/v2\/media?parent=9745"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.kpai1.cn\/ko\/wp-json\/wp\/v2\/categories?post=9745"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.kpai1.cn\/ko\/wp-json\/wp\/v2\/tags?post=9745"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}