{"id":7833,"date":"2025-12-09T16:56:04","date_gmt":"2025-12-09T08:56:04","guid":{"rendered":"https:\/\/www.kpai1.cn\/?p=7833"},"modified":"2025-12-10T15:41:55","modified_gmt":"2025-12-10T07:41:55","slug":"2025%e5%b9%b4%e6%9c%ab%e4%ba%9a%e5%a4%aa%e5%a4%ae%e8%a1%8c%e8%b4%a7%e5%b8%81%e6%94%bf%e7%ad%96%e5%88%86%e5%8c%96-%e6%be%b3%e6%b4%b2%e8%81%94%e5%82%a8%e4%b8%8e%e6%97%a5%e6%9c%ac%e5%a4%ae%e8%a1%8c","status":"publish","type":"post","link":"https:\/\/www.kpai1.cn\/vi\/luu-tru\/7833","title":{"rendered":"S\u1ef1 kh\u00e1c bi\u1ec7t ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 c\u1ee7a c\u00e1c ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng ch\u00e2u \u00c1 - Th\u00e1i B\u00ecnh D\u01b0\u01a1ng v\u00e0o cu\u1ed1i n\u0103m 2025 \u2013 logic li\u00ean k\u1ebft c\u1ee7a Ng\u00e2n h\u00e0ng D\u1ef1 tr\u1eef \u00dac v\u00e0 Ng\u00e2n h\u00e0ng Nh\u1eadt B\u1ea3n"},"content":{"rendered":"

V\u00e0o cu\u1ed1i n\u0103m 2025, ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng Australia v\u00e0 Nh\u1eadt B\u1ea3n, hai n\u1ec1n kinh t\u1ebf l\u1edbn \u1edf ch\u00e2u \u00c1 - Th\u00e1i B\u00ecnh D\u01b0\u01a1ng, \u0111\u00e3 \u0111\u01b0a ra quy\u1ebft \u0111\u1ecbnh v\u1edbi nh\u1eefng h\u01b0\u1edbng \u0111i ho\u00e0n to\u00e0n kh\u00e1c nhau trong c\u00f9ng m\u1ed9t kho\u1ea3ng th\u1eddi gian - Ng\u00e2n h\u00e0ng D\u1ef1 tr\u1eef Australia gi\u1eef nguy\u00ean l\u00e3i su\u1ea5t v\u00e0 k\u1ebft th\u00fac chu k\u1ef3 n\u1edbi l\u1ecfng, trong khi Ng\u00e2n h\u00e0ng Nh\u1eadt B\u1ea3n ho\u00e0n t\u1ea5t vi\u1ec7c t\u0103ng l\u00e3i su\u1ea5t v\u00e0o th\u00e1ng 12 v\u00e0 b\u1eaft \u0111\u1ea7u th\u1eaft ch\u1eb7t ch\u00ednh s\u00e1ch. C\u00e1c quy\u1ebft \u0111\u1ecbnh c\u1ee7a c\u1ea3 hai \u0111\u1ec1u \u0111\u01b0\u1ee3c th\u00fac \u0111\u1ea9y b\u1edfi c\u00e1c nguy\u00ean t\u1eafc c\u01a1 b\u1ea3n c\u1ee7a ri\u00eang h\u1ecd, chia s\u1ebb \u0111i\u1ec3m neo c\u1ed1t l\u00f5i c\u1ee7a l\u1ea1m ph\u00e1t v\u00e0 \u0111\u1ed1i m\u1eb7t v\u1edbi t\u00ecnh th\u1ebf ti\u1ebfn tho\u00e1i l\u01b0\u1ee1ng nan chung v\u1ec1 s\u1ef1 kh\u00f4ng ch\u1eafc ch\u1eafn trong \u0111\u01b0\u1eddng l\u1ed1i ch\u00ednh s\u00e1ch. M\u1ed1i li\u00ean k\u1ebft v\u00e0 s\u1ef1 kh\u00e1c bi\u1ec7t c\u1ee7a ch\u00fang ph\u00e1c th\u1ea3o m\u00f4 h\u00ecnh ph\u1ee9c t\u1ea1p c\u1ee7a ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 ch\u00e2u \u00c1-Th\u00e1i B\u00ecnh D\u01b0\u01a1ng v\u00e0o cu\u1ed1i n\u0103m. L\u1ea1m ph\u00e1t l\u00e0 \u0111\u1ed9ng l\u1ef1c c\u1ed1t l\u00f5i chung \u0111\u1ec3 hai ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng l\u1edbn \u0111i\u1ec1u ch\u1ec9nh ch\u00ednh s\u00e1ch. Tuy nhi\u00ean, d\u1ef1a tr\u00ean nh\u1eefng \u0111i\u1ec3m y\u1ebfu c\u1ee7a n\u1ec1n kinh t\u1ebf t\u01b0\u01a1ng \u1ee9ng, c\u1ea3 hai \u0111\u00e3 \u00e1p d\u1ee5ng c\u00e1c ph\u1ea3n \u1ee9ng kh\u00e1c nhau l\u00e0 \"duy tr\u00ec s\u1ef1 \u1ed5n \u0111\u1ecbnh v\u00e0 ch\u1edd \u0111\u1ee3i\" v\u00e0 \"t\u00edch c\u1ef1c t\u0103ng l\u00e3i su\u1ea5t\".<\/p>\n

Ng\u00e2n h\u00e0ng D\u1ef1 tr\u1eef \u00dac: Ch\u1ea5m d\u1ee9t c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t khi l\u1ea1m ph\u00e1t gia t\u0103ng, duy tr\u00ec s\u1ef1 \u1ed5n \u0111\u1ecbnh v\u00e0 gi\u1ea3m \u0111\u1ed9 tr\u1ec5 ch\u00ednh s\u00e1ch<\/strong><\/p>\n

K\u1ec3 t\u1eeb th\u00e1ng 2 n\u0103m 2025, Ng\u00e2n h\u00e0ng D\u1ef1 tr\u1eef \u00dac \u0111\u00e3 c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t t\u1ed5ng c\u1ed9ng 75 \u0111i\u1ec3m c\u01a1 b\u1ea3n. Tuy nhi\u00ean, l\u1ea1m ph\u00e1t b\u1ea5t ng\u1edd t\u0103ng tr\u1edf l\u1ea1i trong n\u1eeda cu\u1ed1i n\u0103m \u0111\u00e3 ph\u00e1 v\u1ee1 k\u1ef3 v\u1ecdng v\u1ec1 vi\u1ec7c c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t th\u00eam, v\u00e0 cu\u1ed9c h\u1ecdp cu\u1ed1i n\u0103m \u0111\u00e3 quy\u1ebft \u0111\u1ecbnh duy tr\u00ec t\u1ef7 l\u1ec7 ti\u1ec1n m\u1eb7t \u1edf m\u1ee9c 3,60%. M\u1eb7c d\u00f9 ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng tin r\u1eb1ng m\u1ed9t ph\u1ea7n s\u1ef1 ph\u1ee5c h\u1ed3i c\u1ee7a l\u1ea1m ph\u00e1t c\u01a1 b\u1ea3n ch\u1ec9 l\u00e0 t\u1ea1m th\u1eddi v\u00e0 gi\u00e1 tr\u1ecb tham chi\u1ebfu c\u1ee7a chu\u1ed7i ch\u1ec9 s\u1ed1 CPI h\u00e0ng th\u00e1ng m\u1edbi c\u00f2n \u0111\u00e1ng nghi ng\u1edd, nh\u01b0ng d\u1eef li\u1ec7u \u0111\u00e3 cho th\u1ea5y s\u1ef1 ph\u1ee5c h\u1ed3i l\u1ea1m ph\u00e1t tr\u00ean di\u1ec7n r\u1ed9ng v\u1eabn t\u1ed3n t\u1ea1i l\u00e2u d\u00e0i, \u0111i\u1ec1u n\u00e0y \u0111\u00e3 tr\u1edf th\u00e0nh c\u01a1 s\u1edf quan tr\u1ecdng \u0111\u1ec3 k\u1ebft th\u00fac chu k\u1ef3 n\u1edbi l\u1ecfng. \u0110\u1ed9ng th\u00e1i n\u00e0y c\u0169ng t\u00ednh \u0111\u1ebfn \u0111\u1ed9 tr\u1ec5 ch\u00ednh s\u00e1ch: m\u00f4i tr\u01b0\u1eddng l\u1ecfng l\u1ebbo k\u1ec3 t\u1eeb \u0111\u1ea7u n\u0103m v\u1eabn ch\u01b0a \u0111\u01b0\u1ee3c truy\u1ec1n t\u1ea3i \u0111\u1ea7y \u0111\u1ee7 \u0111\u1ebfn nhu c\u1ea7u, gi\u00e1 c\u1ea3 v\u00e0 ti\u1ec1n l\u01b0\u01a1ng, \u0111\u1ed3ng th\u1eddi l\u00e3i su\u1ea5t t\u0103ng v\u1ed9i c\u00f3 th\u1ec3 \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn nhu c\u1ea7u t\u01b0 nh\u00e2n \u0111ang ph\u1ee5c h\u1ed3i (c\u1ea3 ti\u00eau d\u00f9ng v\u00e0 \u0111\u1ea7u t\u01b0 \u0111\u1ec1u t\u0103ng); \u0111\u1ed3ng th\u1eddi duy tr\u00ec s\u1ef1 \u1ed5n \u0111\u1ecbnh kh\u00f4ng ch\u1ec9 c\u00f3 th\u1ec3 quan s\u00e1t t\u00ecnh tr\u1ea1ng l\u1ea1m ph\u00e1t k\u00e9o d\u00e0i m\u00e0 c\u00f2n \u1ed5n \u0111\u1ecbnh t\u00ecnh tr\u1ea1ng qu\u00e1 n\u00f3ng c\u1ee7a th\u1ecb tr\u01b0\u1eddng nh\u00e0 \u0111\u1ea5t th\u00f4ng qua vi\u1ec7c \u0111\u1ea3o ng\u01b0\u1ee3c k\u1ef3 v\u1ecdng v\u1ec1 l\u00e3i su\u1ea5t.<\/p>\n

\"\u5c40\u90e8\u622a\u53d6_20251209_161044\"<\/p>\n

Ng\u00e2n h\u00e0ng Nh\u1eadt B\u1ea3n: L\u1ea1m ph\u00e1t c\u1ed9ng \u0111\u1ed3ng Y\u00ean y\u1ebfu, t\u0103ng l\u00e3i su\u1ea5t nh\u1eb1m gi\u1ea3m \u00e1p l\u1ef1c k\u00e9p<\/strong><\/p>\n

Vi\u1ec7c t\u0103ng l\u00e3i su\u1ea5t c\u1ee7a Ng\u00e2n h\u00e0ng Nh\u1eadt B\u1ea3n c\u0169ng ki\u1ec1m ch\u1ebf l\u1ea1m ph\u00e1t v\u00e0 l\u00e0m t\u0103ng th\u00eam t\u00ecnh th\u1ebf kh\u00f3 x\u1eed khi \u0111\u1ed3ng y\u00ean y\u1ebfu - \u0111\u1ed3ng y\u00ean gi\u1ea3m xu\u1ed1ng m\u1ee9c th\u1ea5p nh\u1ea5t trong 10 th\u00e1ng, g\u00e2y ra nguy c\u01a1 can thi\u1ec7p v\u00e0 l\u1ea1m ph\u00e1t cao \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn t\u1ef7 l\u1ec7 h\u1ed7 tr\u1ee3 c\u1ee7a ch\u00ednh ph\u1ee7. \u00c1p l\u1ef1c n\u00e0y tr\u1edf th\u00e0nh ch\u00eca kh\u00f3a \u0111\u1ec3 Th\u1ed1ng \u0111\u1ed1c Kazuo Ueda thuy\u1ebft ph\u1ee5c Th\u1ee7 t\u01b0\u1edbng Takaichi Sanae, ng\u01b0\u1eddi ph\u1ea3n \u0111\u1ed1i vi\u1ec7c t\u0103ng l\u00e3i su\u1ea5t. So v\u1edbi \"ph\u1ea3n \u1ee9ng ch\u1edd xem\" c\u1ee7a Ng\u00e2n h\u00e0ng D\u1ef1 tr\u1eef \u00dac, Ng\u00e2n h\u00e0ng Nh\u1eadt B\u1ea3n \u0111\u00e3 ch\u1ee7 \u0111\u1ed9ng t\u0103ng l\u00e3i su\u1ea5t th\u00eam 25 \u0111i\u1ec3m c\u01a1 b\u1ea3n l\u00ean 0,75% (m\u1ee9c cao m\u1edbi trong 30 n\u0103m), \u0111i\u1ec1u n\u00e0y kh\u00f4ng ch\u1ec9 l\u00e0m gi\u1ea3m b\u1edbt l\u1ea1m ph\u00e1t nh\u1eadp kh\u1ea9u m\u00e0 c\u00f2n \u1ed5n \u0111\u1ecbnh t\u1ef7 gi\u00e1 h\u1ed1i \u0111o\u00e1i b\u1eb1ng c\u00e1ch t\u0103ng l\u00e3i su\u1ea5t th\u1ef1c. \u0110\u1ed9ng th\u00e1i n\u00e0y c\u0169ng g\u00e1nh v\u00e1c s\u1ee9 m\u1ec7nh b\u00ecnh th\u01b0\u1eddng h\u00f3a ch\u00ednh s\u00e1ch v\u00e0 l\u00e0 ch\u00eca kh\u00f3a cho gi\u1ea3i ph\u00e1p c\u1ee7a Ueda Kazuo \u0111\u1ed1i v\u1edbi nh\u1eefng v\u1ea5n \u0111\u1ec1 do ch\u00ednh s\u00e1ch k\u00edch th\u00edch tri\u1ec7t \u0111\u1ec3 c\u1ee7a ng\u01b0\u1eddi ti\u1ec1n nhi\u1ec7m \u0111\u1ec3 l\u1ea1i. N\u00f3 ho\u00e0n to\u00e0n tr\u00e1i ng\u01b0\u1ee3c v\u1edbi m\u1ee5c ti\u00eau c\u1ee7a RBA l\u00e0 \"gi\u1ea3m \u0111\u1ed9 tr\u1ec5 ch\u00ednh s\u00e1ch\".<\/p>\n

C\u1ea3 hai ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng l\u1edbn \u0111\u1ec1u c\u1ea7n ph\u1ea3i v\u01b0\u1ee3t qua nh\u1eefng h\u1ea1n ch\u1ebf \u0111\u1ec3 th\u1ef1c hi\u1ec7n ch\u00ednh s\u00e1ch c\u1ee7a m\u00ecnh, nh\u01b0ng \u0111i\u1ec3m kh\u00e1c bi\u1ec7t c\u1ed1t l\u00f5i n\u1eb1m \u1edf \u201cs\u1ef1 ph\u1ee5 thu\u1ed9c v\u00e0o d\u1eef li\u1ec7u kinh t\u1ebf\u201d v\u00e0 \u201cc\u00e2n b\u1eb1ng nhu c\u1ea7u ch\u00ednh tr\u1ecb\u201d, nh\u1eefng y\u1ebfu t\u1ed1 tr\u1ef1c ti\u1ebfp quy\u1ebft \u0111\u1ecbnh t\u1ed1c \u0111\u1ed9 ti\u1ebfn b\u1ed9 ch\u00ednh s\u00e1ch.<\/p>\n

\u6fb3\u6d32\u8054\u50a8\uff1a\u951a\u5b9a\u7ecf\u6d4e\u6570\u636e\uff0c\u8c28\u614e\u5e94\u5bf9\u4e0d\u786e\u5b9a\u6027<\/strong><\/p>\n

Qu\u00e1 tr\u00ecnh ra quy\u1ebft \u0111\u1ecbnh c\u1ee7a Ng\u00e2n h\u00e0ng D\u1ef1 tr\u1eef \u00dac \u0111\u01b0\u1ee3c d\u1ef1a tr\u00ean d\u1eef li\u1ec7u v\u00e0 kh\u00f4ng c\u00f3 tr\u00f2 ch\u01a1i ch\u00ednh tr\u1ecb r\u00f5 r\u00e0ng. C\u00e1c h\u1ea1n ch\u1ebf t\u1eadp trung v\u00e0o ba \u0111i\u1ec3m kh\u00f4ng ch\u1eafc ch\u1eafn v\u1ec1 d\u1eef li\u1ec7u: th\u1ee9 nh\u1ea5t, t\u00ednh h\u1ee3p l\u1ec7 c\u1ee7a d\u1eef li\u1ec7u l\u1ea1m ph\u00e1t (gi\u00e1 tr\u1ecb tham chi\u1ebfu c\u1ee7a chu\u1ed7i CPI h\u00e0ng th\u00e1ng m\u1edbi c\u00f2n nhi\u1ec1u nghi v\u1ea5n); th\u1ee9 hai, nh\u1eefng m\u00e2u thu\u1eabn tr\u00ean th\u1ecb tr\u01b0\u1eddng lao \u0111\u1ed9ng (t\u1ef7 l\u1ec7 th\u1ea5t nghi\u1ec7p t\u0103ng cao nh\u01b0ng t\u1ef7 l\u1ec7 s\u1eed d\u1ee5ng kh\u00f4ng \u0111\u00fang m\u1ee9c th\u1ea5p, kh\u00f3 tuy\u1ec3n d\u1ee5ng lao \u0111\u1ed9ng v\u00e0 chi ph\u00ed \u0111\u01a1n v\u1ecb lao \u0111\u1ed9ng cao c\u00f9ng t\u1ed3n t\u1ea1i); th\u1ee9 ba, \u0111\u1ed9ng l\u1ef1c c\u1ee7a khu v\u1ef1c t\u01b0 nh\u00e2n ph\u1ee5c h\u1ed3i nhi\u1ec1u h\u01a1n d\u1ef1 ki\u1ebfn \u200b\u200bho\u1eb7c t\u0103ng th\u00eam \u00e1p l\u1ef1c l\u00ean n\u0103ng l\u1ef1c s\u1ea3n xu\u1ea5t. \u0110\u1ec3 \u0111\u1ea1t \u0111\u01b0\u1ee3c m\u1ee5c ti\u00eau n\u00e0y, Ng\u00e2n h\u00e0ng D\u1ef1 tr\u1eef \u00dac \u0111\u00e3 n\u00f3i r\u00f5 r\u1eb1ng h\u1ecd \u201cc\u1ea7n c\u1eadp nh\u1eadt \u0111\u00e1nh gi\u00e1 tri\u1ec3n v\u1ecdng d\u1ef1a tr\u00ean d\u1eef li\u1ec7u\u201d v\u00e0 r\u00e0ng bu\u1ed9c s\u00e2u s\u1eafc vi\u1ec7c ra quy\u1ebft \u0111\u1ecbnh c\u1ee7a m\u00ecnh v\u1edbi d\u1eef li\u1ec7u kinh t\u1ebf to\u00e0n c\u1ea7u, nhu c\u1ea7u trong n\u01b0\u1edbc, l\u1ea1m ph\u00e1t v\u00e0 th\u1ecb tr\u01b0\u1eddng lao \u0111\u1ed9ng, n\u00eau b\u1eadt c\u00e1c \u0111\u1eb7c \u0111i\u1ec3m c\u1ee7a ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 \u201cph\u1ee5 thu\u1ed9c v\u00e0o d\u1eef li\u1ec7u\u201d.<\/p>\n

\u65e5\u672c\u592e\u884c\uff1a\u7a81\u7834\u653f\u6cbb\u963b\u529b\uff0c\u8bdd\u672f\u94fa\u57ab\u4fc3\u843d\u5730<\/strong><\/p>\n

Vi\u1ec7c Ng\u00e2n h\u00e0ng Nh\u1eadt B\u1ea3n t\u0103ng l\u00e3i su\u1ea5t l\u00e0 m\u1ed9t h\u00e0nh \u0111\u1ed9ng c\u00e2n b\u1eb1ng ch\u00ednh tr\u1ecb ch\u00ednh x\u00e1c - Th\u1ee7 t\u01b0\u1edbng Takaichi Sanae t\u1eebng th\u1eb3ng th\u1eafn cho r\u1eb1ng vi\u1ec7c t\u0103ng l\u00e3i su\u1ea5t l\u00e0 \"ngu ng\u1ed1c\". Ch\u00ednh ph\u1ee7 lu\u00f4n ch\u1ee7 tr\u01b0\u01a1ng n\u1edbi l\u1ecfng v\u00e0 lo\u1ea1i b\u1ecf s\u1ef1 ph\u1ea3n kh\u00e1ng ch\u00ednh tr\u1ecb l\u00e0 \u0111i\u1ec1u ki\u1ec7n ti\u00ean quy\u1ebft c\u1ed1t l\u00f5i \u0111\u1ec3 Kazuo Ueda t\u0103ng l\u00e3i su\u1ea5t. Ueda Kazuo \u0111\u00e3 v\u01b0\u1ee3t qua t\u00ecnh th\u1ebf n\u00e0y b\u1eb1ng ba b\u01b0\u1edbc: th\u1ee9 nh\u1ea5t, \u00f4ng s\u1eed d\u1ee5ng \u0111\u1ed3ng y\u00ean y\u1ebfu v\u00e0 \u00e1p l\u1ef1c l\u1ea1m ph\u00e1t \u0111\u1ec3 thuy\u1ebft ph\u1ee5c Th\u1ee7 t\u01b0\u1edbng t\u00e1n th\u00e0nh \"t\u0103ng l\u00e3i su\u1ea5t d\u1ea7n d\u1ea7n \u0111\u1ec3 gi\u00e1 c\u1ea3 h\u1ea1 c\u00e1nh nh\u1eb9 nh\u00e0ng\" t\u1ea1i m\u1ed9t cu\u1ed9c h\u1ecdp b\u1ea5t th\u01b0\u1eddng v\u00e0o ng\u00e0y 18 th\u00e1ng 11; th\u1ee9 hai, \u00f4ng th\u00fac \u0111\u1ea9y B\u1ed9 tr\u01b0\u1edfng T\u00e0i ch\u00ednh Katayama Satsuki b\u00e0y t\u1ecf s\u1ef1 \u1ee7ng h\u1ed9 \u0111\u1ed1i v\u1edbi vi\u1ec7c \u201c\u0111i\u1ec1u ch\u1ec9nh d\u1ea7n d\u1ea7n\u201d ch\u00ednh s\u00e1ch v\u00e0 gi\u1ea3i quy\u1ebft c\u00e1c tr\u1edf ng\u1ea1i trong n\u1ed9i c\u00e1c; th\u1ee9 ba, trong b\u00e0i ph\u00e1t bi\u1ec3u ng\u00e0y 1 th\u00e1ng 12, \u00f4ng ca ng\u1ee3i \"Abenomics\" do Sanae Takaichi th\u00fac \u0111\u1ea9y v\u00e0 c\u1ee7ng c\u1ed1 n\u1ec1n t\u1ea3ng ch\u00ednh tr\u1ecb. Logic \u201cph\u00e1 v\u1ee1 s\u1ef1 ph\u1ea3n kh\u00e1ng ch\u00ednh tr\u1ecb tr\u01b0\u1edbc r\u1ed3i m\u1edbi th\u00fac \u0111\u1ea9y c\u00e1c ho\u1ea1t \u0111\u1ed9ng\u201d n\u00e0y tr\u00e1i ng\u01b0\u1ee3c ho\u00e0n to\u00e0n v\u1edbi c\u00e1ch ti\u1ebfp c\u1eadn \u201cd\u1ef1a tr\u00ean d\u1eef li\u1ec7u\u201d c\u1ee7a Ng\u00e2n h\u00e0ng D\u1ef1 tr\u1eef \u00dac.<\/p>\n

\"\u5c40\u90e8\u622a\u53d6_20251209_161205\"<\/p>\n

<\/a>Nh\u1eefng v\u1ea5n \u0111\u1ec1 nan gi\u1ea3i th\u01b0\u1eddng g\u1eb7p trong l\u1ed9 tr\u00ecnh ch\u00ednh s\u00e1ch: tr\u00f2 ch\u01a1i k\u1ef3 v\u1ecdng c\u1ee7a th\u1ecb tr\u01b0\u1eddng trong \u0111i\u1ec1u ki\u1ec7n kh\u00f4ng ch\u1eafc ch\u1eafn<\/strong><\/p>\n

M\u1eb7c d\u00f9 c\u00e1c \u0111\u1ecbnh h\u01b0\u1edbng ch\u00ednh s\u00e1ch kh\u00e1c nhau, nh\u01b0ng hai ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng l\u1edbn \u0111ang ph\u1ea3i \u0111\u1ed1i m\u1eb7t v\u1edbi t\u00ecnh th\u1ebf ti\u1ebfn tho\u00e1i l\u01b0\u1ee1ng nan chung l\u00e0 c\u00e1c \u0111\u01b0\u1eddng l\u1ed1i ch\u00ednh s\u00e1ch kh\u00f4ng r\u00f5 r\u00e0ng v\u00e0 t\u00ecnh th\u1ebf ti\u1ebfn tho\u00e1i l\u01b0\u1ee1ng nan n\u00e0y \u0111\u01b0\u1ee3c truy\u1ec1n tr\u1ef1c ti\u1ebfp \u0111\u1ebfn th\u1ecb tr\u01b0\u1eddng, g\u00e2y ra tr\u00f2 ch\u01a1i k\u1ef3 v\u1ecdng d\u00e0i h\u1ea1n v\u00e0 s\u1ef1 kh\u00f4ng ch\u1eafc ch\u1eafn g\u00e2y ra c\u00e1c ph\u1ea3n \u1ee9ng kh\u00e1c nhau c\u1ee7a th\u1ecb tr\u01b0\u1eddng. \u1ede \u00dac, k\u1ef3 v\u1ecdng v\u1ec1 l\u00e3i su\u1ea5t \u0111\u00e3 \u0111\u1ea3o ng\u01b0\u1ee3c \u0111\u1ec3 ph\u00f2ng ng\u1eeba th\u1ecb tr\u01b0\u1eddng nh\u00e0 \u0111\u1ea5t qu\u00e1 n\u00f3ng, \u0111\u1ed3ng th\u1eddi s\u1ef1 gia t\u0103ng l\u00e3i su\u1ea5t tr\u00ean th\u1ecb tr\u01b0\u1eddng ti\u1ec1n t\u1ec7 v\u00e0 l\u00e3i su\u1ea5t tr\u00e1i phi\u1ebfu ch\u00ednh ph\u1ee7 \u0111\u00e3 d\u1ea7n thay \u0111\u1ed5i m\u00f4i tr\u01b0\u1eddng n\u1edbi l\u1ecfng; T\u1ea1i Nh\u1eadt B\u1ea3n, \"th\u1ecfa thu\u1eadn ng\u1eebng b\u1eafn kh\u00f3 ch\u1ecbu\" gi\u1eefa ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng v\u00e0 ch\u00ednh ph\u1ee7 \u0111\u00e3 g\u00e2y \u00e1p l\u1ef1c l\u00ean th\u1ecb tr\u01b0\u1eddng tr\u00e1i phi\u1ebfu, v\u00e0 tr\u1ecdng t\u00e2m c\u1ee7a c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 \u0111\u00e3 chuy\u1ec3n t\u1eeb \"c\u00f3 n\u00ean t\u0103ng l\u00e3i su\u1ea5t\" sang \"c\u00e1c b\u01b0\u1edbc ti\u1ebfp theo hay kh\u00f4ng\". Nomura Securities ch\u1ec9 ra r\u1eb1ng n\u1ebfu Ueda Kazuo kh\u00f4ng th\u1ec3 ph\u00e1t t\u00edn hi\u1ec7u r\u00f5 r\u00e0ng v\u1ec1 vi\u1ec7c ti\u1ebfp t\u1ee5c t\u0103ng l\u00e3i su\u1ea5t, \u0111\u1ed3ng y\u00ean c\u00f3 th\u1ec3 gi\u1ea3m tr\u1edf l\u1ea1i. N\u1ebfu \u00f4ng g\u1ee3i \u00fd v\u1ec1 vi\u1ec7c t\u0103ng l\u00e3i su\u1ea5t \u0111\u1ec1u \u0111\u1eb7n, \u0111i\u1ec1u \u0111\u00f3 s\u1ebd g\u00e2y c\u0103ng th\u1eb3ng cho ch\u00ednh ph\u1ee7 v\u00e0 r\u01a1i v\u00e0o t\u00ecnh th\u1ebf ti\u1ebfn tho\u00e1i l\u01b0\u1ee1ng nan trong giao ti\u1ebfp.<\/p>\n

M\u1eb7c d\u00f9 c\u00e1c \u0111\u1ecbnh h\u01b0\u1edbng ch\u00ednh s\u00e1ch kh\u00e1c nhau, nh\u01b0ng hai ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng l\u1edbn \u0111ang ph\u1ea3i \u0111\u1ed1i m\u1eb7t v\u1edbi t\u00ecnh th\u1ebf ti\u1ebfn tho\u00e1i l\u01b0\u1ee1ng nan chung l\u00e0 c\u00e1c \u0111\u01b0\u1eddng l\u1ed1i ch\u00ednh s\u00e1ch kh\u00f4ng r\u00f5 r\u00e0ng v\u00e0 t\u00ecnh th\u1ebf ti\u1ebfn tho\u00e1i l\u01b0\u1ee1ng nan n\u00e0y \u0111\u01b0\u1ee3c truy\u1ec1n tr\u1ef1c ti\u1ebfp \u0111\u1ebfn th\u1ecb tr\u01b0\u1eddng, g\u00e2y ra tr\u00f2 ch\u01a1i k\u1ef3 v\u1ecdng d\u00e0i h\u1ea1n v\u00e0 s\u1ef1 kh\u00f4ng ch\u1eafc ch\u1eafn g\u00e2y ra c\u00e1c ph\u1ea3n \u1ee9ng kh\u00e1c nhau c\u1ee7a th\u1ecb tr\u01b0\u1eddng. \u1ede \u00dac, k\u1ef3 v\u1ecdng v\u1ec1 l\u00e3i su\u1ea5t \u0111\u00e3 \u0111\u1ea3o ng\u01b0\u1ee3c \u0111\u1ec3 ph\u00f2ng ng\u1eeba th\u1ecb tr\u01b0\u1eddng nh\u00e0 \u0111\u1ea5t qu\u00e1 n\u00f3ng, \u0111\u1ed3ng th\u1eddi s\u1ef1 gia t\u0103ng l\u00e3i su\u1ea5t tr\u00ean th\u1ecb tr\u01b0\u1eddng ti\u1ec1n t\u1ec7 v\u00e0 l\u00e3i su\u1ea5t tr\u00e1i phi\u1ebfu ch\u00ednh ph\u1ee7 \u0111\u00e3 d\u1ea7n thay \u0111\u1ed5i m\u00f4i tr\u01b0\u1eddng n\u1edbi l\u1ecfng; T\u1ea1i Nh\u1eadt B\u1ea3n, \"th\u1ecfa thu\u1eadn ng\u1eebng b\u1eafn kh\u00f3 ch\u1ecbu\" gi\u1eefa ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng v\u00e0 ch\u00ednh ph\u1ee7 \u0111\u00e3 g\u00e2y \u00e1p l\u1ef1c l\u00ean th\u1ecb tr\u01b0\u1eddng tr\u00e1i phi\u1ebfu, v\u00e0 tr\u1ecdng t\u00e2m c\u1ee7a c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 \u0111\u00e3 chuy\u1ec3n t\u1eeb \"c\u00f3 n\u00ean t\u0103ng l\u00e3i su\u1ea5t\" sang \"c\u00e1c b\u01b0\u1edbc ti\u1ebfp theo hay kh\u00f4ng\". Nomura Securities ch\u1ec9 ra r\u1eb1ng n\u1ebfu Ueda Kazuo kh\u00f4ng th\u1ec3 ph\u00e1t t\u00edn hi\u1ec7u r\u00f5 r\u00e0ng v\u1ec1 vi\u1ec7c ti\u1ebfp t\u1ee5c t\u0103ng l\u00e3i su\u1ea5t, \u0111\u1ed3ng y\u00ean c\u00f3 th\u1ec3 gi\u1ea3m tr\u1edf l\u1ea1i. N\u1ebfu \u00f4ng g\u1ee3i \u00fd v\u1ec1 vi\u1ec7c t\u0103ng l\u00e3i su\u1ea5t \u0111\u1ec1u \u0111\u1eb7n, \u0111i\u1ec1u \u0111\u00f3 s\u1ebd g\u00e2y c\u0103ng th\u1eb3ng cho ch\u00ednh ph\u1ee7 v\u00e0 r\u01a1i v\u00e0o t\u00ecnh th\u1ebf ti\u1ebfn tho\u00e1i l\u01b0\u1ee1ng nan trong giao ti\u1ebfp.<\/p>\n

<\/a>S\u1ef1 gi\u00e1c ng\u1ed9 t\u1eeb s\u1ef1 kh\u00e1c bi\u1ec7t c\u1ee7a ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 ch\u00e2u \u00c1 - Th\u00e1i B\u00ecnh D\u01b0\u01a1ng<\/strong><\/p>\n

Ho\u1ea1t \u0111\u1ed9ng cu\u1ed1i n\u0103m c\u1ee7a hai ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng l\u1edbn v\u1ec1 c\u01a1 b\u1ea3n l\u00e0 m\u1ed9t ph\u00e9p th\u1eed kh\u00e1c bi\u1ec7t v\u1ec1 \"k\u1ef7 nguy\u00ean h\u1eadu n\u1edbi l\u1ecfng\" c\u1ee7a c\u00e1c n\u1ec1n kinh t\u1ebf ch\u00e2u \u00c1 - Th\u00e1i B\u00ecnh D\u01b0\u01a1ng: Ng\u00e2n h\u00e0ng D\u1ef1 tr\u1eef Australia l\u00e0 m\u1ed9t phe ch\u1edd \u0111\u1ee3i th\u1eadn tr\u1ecdng trong \"l\u1ea1m ph\u00e1t ph\u1ee5c h\u1ed3i + \u0111\u1ed9 tr\u1ec5 ch\u00ednh s\u00e1ch\", v\u00e0 vi\u1ec7c ra quy\u1ebft \u0111\u1ecbnh c\u1ee7a n\u00f3 t\u1eadp trung v\u00e0o s\u1ef1 c\u00e2n b\u1eb1ng d\u1eef li\u1ec7u n\u1ed9i b\u1ed9; Ng\u00e2n h\u00e0ng Nh\u1eadt B\u1ea3n l\u00e0 c\u01a1 quan th\u1eaft ch\u1eb7t t\u00edch c\u1ef1c d\u01b0\u1edbi \"\u00e1p l\u1ef1c t\u1ef7 gi\u00e1 h\u1ed1i \u0111o\u00e1i + b\u00ecnh th\u01b0\u1eddng h\u00f3a ch\u00ednh s\u00e1ch\", v\u00e0 ho\u1ea1t \u0111\u1ed9ng c\u1ee7a ng\u00e2n h\u00e0ng n\u00e0y c\u1ea7n t\u00ednh \u0111\u1ebfn c\u00e1c tr\u00f2 ch\u01a1i ch\u00ednh tr\u1ecb v\u00e0 k\u1ef3 v\u1ecdng c\u1ee7a th\u1ecb tr\u01b0\u1eddng. S\u1ef1 ph\u00e2n chia n\u00e0y kh\u00f4ng ch\u1ec9 ph\u1ea3n \u00e1nh nh\u1eefng kh\u00e1c bi\u1ec7t c\u01a1 b\u1ea3n gi\u1eefa c\u00e1c n\u1ec1n kinh t\u1ebf ch\u00e2u \u00c1-Th\u00e1i B\u00ecnh D\u01b0\u01a1ng m\u00e0 c\u00f2n cung c\u1ea5p m\u1ed9t \u0111i\u1ec3m neo m\u1edbi cho d\u00f2ng v\u1ed1n, xu h\u01b0\u1edbng t\u1ef7 gi\u00e1 h\u1ed1i \u0111o\u00e1i v\u00e0 \u0111\u1ecbnh gi\u00e1 t\u00e0i s\u1ea3n trong khu v\u1ef1c. N\u00f3 c\u0169ng ch\u1ec9 ra r\u1eb1ng ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 ch\u00e2u \u00c1 - Th\u00e1i B\u00ecnh D\u01b0\u01a1ng s\u1ebd b\u01b0\u1edbc v\u00e0o giai \u0111o\u1ea1n ph\u1ee9c t\u1ea1p \u201ckh\u00e1c bi\u1ec7t h\u00f3a v\u00e0 li\u00ean k\u1ebft\u201d v\u00e0o n\u0103m 2026.<\/p>","protected":false},"excerpt":{"rendered":"

Cu\u1ed1i n\u0103m 2025, Ng\u00e2n h\u00e0ng D\u1ef1 tr\u1eef Australia duy tr\u00ec l\u00e3i su\u1ea5t \u0111\u1ec3 ch\u1ea5m d\u1ee9t n\u1edbi l\u1ecfng, Ng\u00e2n h\u00e0ng Nh\u1eadt B\u1ea3n quy\u1ebft \u0111\u1ecbnh t\u0103ng l\u00e3i su\u1ea5t l\u00ean 0,75% v\u00e0 b\u1eaft \u0111\u1ea7u th\u1eaft ch\u1eb7t. L\u1ea1m ph\u00e1t l\u00e0 nguy\u00ean nh\u00e2n c\u1ed1t l\u00f5i ph\u1ed5 bi\u1ebfn, nh\u01b0ng Australia \u0111ang ch\u1edd xem s\u1ed1 li\u1ec7u, trong khi Nh\u1eadt B\u1ea3n \u0111\u00e3 ch\u1ee7 \u0111\u1ed9ng th\u1eaft ch\u1eb7t b\u1ea5t ch\u1ea5p s\u1ef1 ph\u1ea3n \u0111\u1ed1i ch\u00ednh tr\u1ecb. C\u1ea3 hai \u0111\u1ec1u b\u1ecb m\u1eafc k\u1eb9t trong t\u00ecnh th\u1ebf ti\u1ebfn tho\u00e1i l\u01b0\u1ee1ng nan v\u1ec1 s\u1ef1 kh\u00f4ng ch\u1eafc ch\u1eafn trong l\u1ed9 tr\u00ecnh ch\u00ednh s\u00e1ch, cho th\u1ea5y ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 ch\u00e2u \u00c1-Th\u00e1i B\u00ecnh D\u01b0\u01a1ng s\u1ebd b\u01b0\u1edbc v\u00e0o giai \u0111o\u1ea1n ph\u1ee9c t\u1ea1p c\u1ee7a s\u1ef1 kh\u00e1c bi\u1ec7t v\u00e0 li\u00ean k\u1ebft v\u00e0o n\u0103m 2026.<\/p>","protected":false},"author":1,"featured_media":7837,"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":[285,286,287],"class_list":["post-7833","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financial-news","tag-285","tag-286","tag-287"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.kpai1.cn\/vi\/wp-json\/wp\/v2\/posts\/7833","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.kpai1.cn\/vi\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.kpai1.cn\/vi\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.kpai1.cn\/vi\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.kpai1.cn\/vi\/wp-json\/wp\/v2\/comments?post=7833"}],"version-history":[{"count":4,"href":"https:\/\/www.kpai1.cn\/vi\/wp-json\/wp\/v2\/posts\/7833\/revisions"}],"predecessor-version":[{"id":7901,"href":"https:\/\/www.kpai1.cn\/vi\/wp-json\/wp\/v2\/posts\/7833\/revisions\/7901"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.kpai1.cn\/vi\/wp-json\/wp\/v2\/media\/7837"}],"wp:attachment":[{"href":"https:\/\/www.kpai1.cn\/vi\/wp-json\/wp\/v2\/media?parent=7833"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.kpai1.cn\/vi\/wp-json\/wp\/v2\/categories?post=7833"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.kpai1.cn\/vi\/wp-json\/wp\/v2\/tags?post=7833"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}