{"id":9829,"date":"2026-05-07T15:09:33","date_gmt":"2026-05-07T07:09:33","guid":{"rendered":"https:\/\/www.kpai1.cn\/?p=9829"},"modified":"2026-05-07T15:09:38","modified_gmt":"2026-05-07T07:09:38","slug":"%e6%94%bf%e7%ad%96%e5%ba%95%e7%ba%bf%e4%b8%8e%e5%b8%82%e5%9c%ba%e5%8d%9a%e5%bc%88%ef%bc%9awmax-%e8%a7%a3%e8%af%bb%e6%97%a5%e5%85%83%e5%b9%b2%e9%a2%84%e6%96%b0%e8%a7%84%e7%9a%84%e5%85%a8%e7%90%83","status":"publish","type":"post","link":"https:\/\/www.kpai1.cn\/vi\/luu-tru\/9829","title":{"rendered":"\u0110i\u1ec3m m\u1ea5u ch\u1ed1t c\u1ee7a ch\u00ednh s\u00e1ch v\u00e0 tr\u00f2 ch\u01a1i th\u1ecb tr\u01b0\u1eddng: Wmax di\u1ec5n gi\u1ea3i t\u00e1c \u0111\u1ed9ng to\u00e0n c\u1ea7u c\u1ee7a c\u00e1c quy \u0111\u1ecbnh can thi\u1ec7p m\u1edbi b\u1eb1ng \u0111\u1ed3ng Y\u00ean Nh\u1eadt"},"content":{"rendered":"

Nh\u00f3m chi\u1ebfn l\u01b0\u1ee3c ngo\u1ea1i h\u1ed1i Wmax \u0111\u01b0a ra \u0111\u00e1nh gi\u00e1 to\u00e0n di\u1ec7n d\u1ef1a tr\u00ean tuy\u00ean b\u1ed1 ch\u00ednh th\u1ee9c m\u1edbi nh\u1ea5t t\u1eeb \u200b\u200bB\u1ed9 T\u00e0i ch\u00ednh Nh\u1eadt B\u1ea3n, d\u1eef li\u1ec7u giao d\u1ecbch tr\u00ean to\u00e0n th\u1ecb tr\u01b0\u1eddng c\u1ee7a Bloomberg v\u00e0 x\u00e1c minh ch\u00e9o t\u1eeb c\u00e1c t\u1ed5 ch\u1ee9c h\u00e0ng \u0111\u1ea7u nh\u01b0 Goldman Sachs v\u00e0 Morgan Stanley: Ch\u00ednh quy\u1ec1n Nh\u1eadt B\u1ea3n hi\u1ebfm khi c\u00f4ng khai tr\u00edch d\u1eabn khu\u00f4n kh\u1ed5 IMF \u0111\u1ec3 l\u00e0m r\u00f5 c\u00e1c quy t\u1eafc can thi\u1ec7p v\u00e0o th\u1ecb tr\u01b0\u1eddng ngo\u1ea1i h\u1ed1i, \u0111\u00e1nh d\u1ea5u r\u1eb1ng \u0111i\u1ec3m m\u1ea5u ch\u1ed1t c\u1ee7a ch\u00ednh s\u00e1ch \u0111\u1ed3ng y\u00ean Nh\u1eadt v\u00e0 tr\u00f2 ch\u01a1i th\u1ecb tr\u01b0\u1eddng \u0111\u00e3 ch\u00ednh th\u1ee9c b\u01b0\u1edbc v\u00e0o m\u1ed9t giai \u0111o\u1ea1n m\u1edbi c\u00f3 th\u1ec3 \u0111\u1ecbnh l\u01b0\u1ee3ng v\u00e0 d\u1ef1 \u0111o\u00e1n \u0111\u01b0\u1ee3c. Trong ng\u1eafn h\u1ea1n, ranh gi\u1edbi can thi\u1ec7p r\u00f5 r\u00e0ng v\u00e0 k\u1ef3 v\u1ecdng v\u1ec1 vi\u1ec7c t\u0103ng l\u00e3i su\u1ea5t v\u00e0o th\u00e1ng 6 s\u1ebd h\u00ecnh th\u00e0nh h\u1ed7 tr\u1ee3 k\u00e9p v\u00e0 \u0111\u1ed3ng y\u00ean Nh\u1eadt c\u00f3 th\u1ec3 s\u1ebd dao \u0111\u1ed9ng trong kho\u1ea3ng 155-160. Tuy nhi\u00ean, trong trung v\u00e0 d\u00e0i h\u1ea1n, m\u00e2u thu\u1eabn c\u1ed1t l\u00f5i c\u1ee7a vi\u1ec7c ch\u00eanh l\u1ec7ch l\u00e3i su\u1ea5t gi\u1eefa M\u1ef9 v\u00e0 Nh\u1eadt B\u1ea3n ti\u1ebfp t\u1ee5c gia t\u0103ng v\u00e0 chi ph\u00ed nh\u1eadp kh\u1ea9u n\u0103ng l\u01b0\u1ee3ng cao v\u1eabn ch\u01b0a \u0111\u01b0\u1ee3c kh\u1eafc ph\u1ee5c. R\u1ea5t kh\u00f3 \u0111\u1ec3 can thi\u1ec7p ngo\u1ea1i h\u1ed1i \u0111\u01a1n gi\u1ea3n c\u00f3 th\u1ec3 thay \u0111\u1ed5i \u00e1p l\u1ef1c gi\u1ea3m gi\u00e1 theo xu h\u01b0\u1edbng c\u1ee7a \u0111\u1ed3ng Y\u00ean Nh\u1eadt. Wmax s\u1ebd ti\u1ebfp t\u1ee5c theo d\u00f5i nh\u1eefng thay \u0111\u1ed5i nh\u1ecf trong ch\u00ednh s\u00e1ch v\u00e0 th\u1ecb tr\u01b0\u1eddng \u0111\u1ec3 n\u1eafm b\u1eaft c\u00e1c c\u01a1 h\u1ed9i giao d\u1ecbch ch\u1eafc ch\u1eafn cho c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0.<\/p>\n

<\/a>Gi\u1ecdng \u0111i\u1ec7u ch\u00ednh th\u1ee9c c\u1ee7a c\u00e1c quy t\u1eafc can thi\u1ec7p \u0111\u01b0\u1ee3c thi\u1ebft l\u1eadp: ranh gi\u1edbi th\u1ec3 ch\u1ebf v\u00e0 kh\u00f4ng gian ho\u1ea1t \u0111\u1ed9ng \u0111\u01b0\u1ee3c l\u00e0m r\u00f5<\/strong><\/p>\n

Nh\u1eefng thay \u0111\u1ed5i trong ng\u00e0y g\u1ea7n \u0111\u00e2y c\u1ee7a t\u1ef7 gi\u00e1 \u0111\u1ed3ng Y\u00ean Nh\u1eadt \u0111\u00e3 thu h\u00fat s\u1ef1 ch\u00fa \u00fd l\u1edbn tr\u00ean th\u1ecb tr\u01b0\u1eddng ngo\u1ea1i h\u1ed1i to\u00e0n c\u1ea7u. L\u1ea7n \u0111\u1ea7u ti\u00ean, m\u1ed9t quan ch\u1ee9c c\u1ea5p cao c\u1ee7a B\u1ed9 T\u00e0i ch\u00ednh Nh\u1eadt B\u1ea3n \u0111\u00e3 c\u00f4ng khai tr\u00edch d\u1eabn khu\u00f4n kh\u1ed5 quy t\u1eafc can thi\u1ec7p ngo\u1ea1i h\u1ed1i c\u1ee7a IMF \u0111\u1ec3 \u0111\u01b0a ra l\u1eddi gi\u1ea3i th\u00edch c\u00f3 c\u0103n c\u1ee9 v\u1ec1 ranh gi\u1edbi can thi\u1ec7p m\u00e0u \u0111\u1ecf c\u00f3 t\u1ea7m c\u1ee1 v\u00e0 t\u1ea7n su\u1ea5t th\u1ed1ng k\u00ea. \u0110\u00e2y c\u0169ng l\u00e0 l\u1ea7n \u0111\u1ea7u ti\u00ean m\u1ed9t ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng l\u1edbn tr\u00ean th\u1ebf gi\u1edbi c\u00f4ng b\u1ed1 r\u00f5 r\u00e0ng ranh gi\u1edbi th\u1ec3 ch\u1ebf trong ho\u1ea1t \u0111\u1ed9ng can thi\u1ec7p c\u1ee7a m\u00ecnh nh\u01b0 v\u1eady.<\/p>\n

Nh\u1eefng \u0111i\u1ec3m ch\u00ednh trong c\u00e1c quy t\u1eafc c\u1ed1t l\u00f5i c\u1ee7a Wmax nh\u01b0 sau:<\/p>\n

    \n
  1. Ti\u00eau ch\u00ed x\u00e1c \u0111\u1ecbnh can thi\u1ec7p \u0111\u01a1n l\u1ebb<\/strong>: C\u00e1c h\u00e0nh \u0111\u1ed9ng can thi\u1ec7p trong ba ng\u00e0y l\u00e0m vi\u1ec7c li\u00ean ti\u1ebfp s\u1ebd \u0111\u01b0\u1ee3c c\u00f4ng nh\u1eadn l\u00e0 m\u1ed9t s\u1ef1 ki\u1ec7n can thi\u1ec7p duy nh\u1ea5t. Ngay c\u1ea3 khi Nh\u1eadt B\u1ea3n \u0111ang trong ng\u00e0y ngh\u1ec9 l\u1ec5, mi\u1ec5n l\u00e0 th\u1ecb tr\u01b0\u1eddng to\u00e0n c\u1ea7u giao d\u1ecbch b\u00ecnh th\u01b0\u1eddng th\u00ec c\u00e1c ho\u1ea1t \u0111\u1ed9ng trong ng\u00e0y \u0111\u00f3 v\u1eabn \u0111\u01b0\u1ee3c t\u00ednh l\u00e0 nh\u1eefng ng\u00e0y li\u00ean ti\u1ebfp. V\u1edbi t\u1ea7m c\u1ee1 n\u00e0y, s\u1ef1 can thi\u1ec7p b\u1ecb nghi ng\u1edd t\u1eeb ng\u00e0y 30 th\u00e1ng 4 \u0111\u1ebfn ng\u00e0y 4 th\u00e1ng 5 \u0111\u00e3 c\u1ea5u th\u00e0nh m\u1ed9t ho\u1ea1t \u0111\u1ed9ng ho\u00e0n ch\u1ec9nh.<\/li>\n<\/ol>\n

    <\/p>\n

      \n
    1. \u0110\u01b0\u1eddng m\u00e0u \u0111\u1ecf t\u1ea7n su\u1ea5t can thi\u1ec7p h\u00e0ng n\u0103m<\/strong>: Th\u1ef1c hi\u1ec7n kh\u00f4ng qu\u00e1 ba bi\u1ec7n ph\u00e1p can thi\u1ec7p nh\u01b0 v\u1eady trong v\u00f2ng s\u00e1u th\u00e1ng v\u1eabn s\u1ebd \u0111\u00e1p \u1ee9ng ti\u00eau chu\u1ea9n ph\u00e2n lo\u1ea1i \"h\u1ec7 th\u1ed1ng t\u1ef7 gi\u00e1 h\u1ed1i \u0111o\u00e1i th\u1ea3 n\u1ed5i t\u1ef1 do\" c\u1ee7a IMF; qu\u00e1 ba l\u1ea7n, vi\u1ec7c ph\u00e2n lo\u1ea1i h\u1ec7 th\u1ed1ng t\u1ef7 gi\u00e1 h\u1ed1i \u0111o\u00e1i s\u1ebd b\u1ecb h\u1ea1 c\u1ea5p xu\u1ed1ng \"th\u1ea3 n\u1ed5i\". \u0110i\u1ec1u n\u00e0y c\u00f3 ngh\u0129a l\u00e0 t\u00ednh \u0111\u1ebfn th\u00e1ng 11 n\u0103m 2026, ch\u00ednh quy\u1ec1n Nh\u1eadt B\u1ea3n ch\u1ec9 c\u00f2n l\u1ea1i hai th\u1eddi h\u1ea1n can thi\u1ec7p \u0111\u1ea7y \u0111\u1ee7, m\u1ed7i th\u1eddi h\u1ea1n k\u00e9o d\u00e0i t\u1edbi ba ng\u00e0y giao d\u1ecbch.<\/li>\n<\/ol>\n

      Wmax \u0111\u1eb7c bi\u1ec7t ch\u1ec9 ra r\u1eb1ng vi\u1ec7c l\u00e0m r\u00f5 c\u00e1c quy t\u1eafc ch\u00ednh th\u1ee9c kh\u00f4ng h\u1ea1n ch\u1ebf h\u00e0nh \u0111\u1ed9ng c\u1ee7a ch\u00ednh h\u1ecd. Thay v\u00e0o \u0111\u00f3, n\u00f3 mang l\u1ea1i t\u00ednh h\u1ee3p ph\u00e1p v\u1ec1 th\u1ec3 ch\u1ebf cho c\u00e1c \u0111\u1ee3t can thi\u1ec7p ti\u1ebfp theo v\u00e0 nh\u1eefng ng\u00e0y can thi\u1ec7p li\u00ean ti\u1ebfp. \u0110\u1ed3ng th\u1eddi, n\u00f3 g\u1eedi m\u1ed9t t\u00edn hi\u1ec7u r\u00f5 r\u00e0ng \u0111\u1ebfn th\u1ecb tr\u01b0\u1eddng r\u1eb1ng \u201cc\u00e1c ho\u1ea1t \u0111\u1ed9ng ch\u00ednh s\u00e1ch \u0111\u01b0\u1ee3c \u0111i\u1ec1u ch\u1ec9nh b\u1edfi c\u00e1c quy t\u1eafc v\u00e0 s\u1ebd kh\u00f4ng can thi\u1ec7p n\u1ebfu kh\u00f4ng c\u00f3 \u0111i\u1ec3m m\u1ea5u ch\u1ed1t\u201d. \u0110i\u1ec1u n\u00e0y c\u00f3 hi\u1ec7u qu\u1ea3 tr\u00e1nh \u0111\u01b0\u1ee3c t\u00ecnh tr\u1ea1ng \u0111\u1ea7u c\u01a1 m\u1ea5t tr\u1eadt t\u1ef1 v\u00e0 bi\u1ebfn \u0111\u1ed9ng qu\u00e1 m\u1ee9c tr\u00ean th\u1ecb tr\u01b0\u1eddng. K\u1ef9 n\u0103ng truy\u1ec1n \u0111\u1ea1t ch\u00ednh s\u00e1ch n\u00e0y v\u01b0\u1ee3t xa s\u1ef1 mong \u0111\u1ee3i tr\u01b0\u1edbc \u0111\u00e2y c\u1ee7a th\u1ecb tr\u01b0\u1eddng.<\/p>\n

      <\/a>\u0110i\u1ec3m m\u1ea5u ch\u1ed1t c\u1ee7a ch\u00ednh s\u00e1ch \u0111\u00e3 \u0111\u01b0\u1ee3c thi\u1ebft l\u1eadp: r\u00e0o c\u1ea3n 160 \u0111\u00e3 tr\u1edf th\u00e0nh tuy\u1ebfn ph\u00f2ng th\u1ee7 c\u1ee9ng r\u1eafn kh\u00f4ng th\u1ec3 v\u01b0\u1ee3t qua<\/strong><\/p>\n

      Tu\u1ea7n tr\u01b0\u1edbc, \u0111\u1ed3ng y\u00ean m\u1ea5t gi\u00e1 v\u00e0 ch\u1ea1m m\u1ee9c th\u1ea5p nh\u1ea5t trong nhi\u1ec1u n\u0103m l\u00e0 160,72. Th\u1ecb tr\u01b0\u1eddng nh\u00ecn chung tin r\u1eb1ng ch\u00ednh quy\u1ec1n Nh\u1eadt B\u1ea3n \u0111\u00e3 can thi\u1ec7p. T\u00ednh to\u00e1n c\u1ee7a Bloomberg cho th\u1ea5y quy m\u00f4 c\u1ee7a \u0111\u1ee3t can thi\u1ec7p n\u00e0y v\u00e0o kho\u1ea3ng 5,4 ngh\u00ecn t\u1ef7 y\u00ean (t\u01b0\u01a1ng \u0111\u01b0\u01a1ng 34,5 t\u1ef7 USD), t\u01b0\u01a1ng \u0111\u01b0\u01a1ng v\u1edbi \u0111\u1ee3t can thi\u1ec7p v\u00e0o n\u0103m 2024. D\u00f9 quan ch\u1ee9c Nh\u1eadt B\u1ea3n ch\u01b0a bao gi\u1edd ch\u00ednh th\u1ee9c x\u00e1c nh\u1eadn vi\u1ec7c can thi\u1ec7p nh\u01b0ng B\u1ed9 tr\u01b0\u1edfng T\u00e0i ch\u00ednh Katayama Satsuki m\u1ed9t l\u1ea7n n\u1eefa nh\u1eafc l\u1ea1i r\u1eb1ng \u00f4ng \"s\u1eb5n s\u00e0ng h\u00e0nh \u0111\u1ed9ng t\u00e1o b\u1ea1o ch\u1ed1ng l\u1ea1i ho\u1ea1t \u0111\u1ed9ng \u0111\u1ea7u c\u01a1 ti\u1ec1n t\u1ec7 b\u1ea5t c\u1ee9 l\u00fac n\u00e0o\", ti\u1ebfp t\u1ee5c l\u1eadp tr\u01b0\u1eddng \u0111\u1ed3ng thu\u1eadn trong th\u1ecfa thu\u1eadn t\u1ef7 gi\u00e1 h\u1ed1i \u0111o\u00e1i Nh\u1eadt - M\u1ef9.<\/p>\n

      Wmax k\u1ebft h\u1ee3p d\u00f2ng v\u1ed1n \u0111\u0129a v\u00e0 d\u1eef li\u1ec7u th\u1ecb tr\u01b0\u1eddng quy\u1ec1n ch\u1ecdn \u0111\u1ec3 nh\u1eadn th\u1ea5y r\u1eb1ng m\u1ed1c 160 USD\/JPY \u0111\u00e3 tr\u1edf th\u00e0nh \u0111i\u1ec3m m\u1ea5u ch\u1ed1t trong ch\u00ednh s\u00e1ch c\u1ed1t l\u00f5i c\u1ee7a B\u1ed9 T\u00e0i ch\u00ednh Nh\u1eadt B\u1ea3n. Vi\u1ec7c gi\u1eef v\u1eefng m\u1ed1c n\u00e0y \u0111\u00e3 ng\u0103n ch\u1eb7n th\u00e0nh c\u00f4ng ho\u1ea1t \u0111\u1ed9ng b\u00e1n kh\u1ed1ng \u0111\u1ed3ng y\u00ean. Hi\u1ec7n t\u1ea1i c\u00f3 m\u1ed9t s\u1ef1 thay \u0111\u1ed5i t\u00e2m l\u00fd r\u00f5 r\u00e0ng tr\u00ean th\u1ecb tr\u01b0\u1eddng: c\u00e1c v\u1ecb th\u1ebf b\u00e1n \u0111\u1ed3ng y\u00ean \u0111\u00e3 b\u1eaft \u0111\u1ea7u t\u00edch c\u1ef1c \u0111\u00f3ng c\u00e1c v\u1ecb th\u1ebf, c\u00e1c nh\u00e0 giao d\u1ecbch quy\u1ec1n ch\u1ecdn ti\u1ebfp t\u1ee5c t\u0103ng \u0111\u1eb7t c\u01b0\u1ee3c \u0111\u1ed3ng y\u00ean d\u00e0i v\u00e0 c\u00e1c v\u1ecb th\u1ebf mua \u0111\u1ea7u c\u01a1 ng\u1eafn h\u1ea1n \u0111\u00e3 \u0111\u1ea1t \u0111\u1ebfn m\u1ee9c c\u1ef1c \u0111oan nh\u1ea5t k\u1ec3 t\u1eeb th\u00e1ng 1 n\u0103m 2026.<\/p>\n

      \"\u0110\u00e1nh<\/p>\n

      Trong phi\u00ean giao d\u1ecbch ch\u00e2u \u00c1 h\u00f4m th\u1ee9 Hai, thanh kho\u1ea3n th\u1ecb tr\u01b0\u1eddng m\u1ecfng do k\u1ef3 ngh\u1ec9 Tu\u1ea7n l\u1ec5 V\u00e0ng c\u1ee7a Nh\u1eadt B\u1ea3n. \u0110\u1ed3ng y\u00ean nhanh ch\u00f3ng t\u0103ng 0,8% l\u00ean 155,72, sau \u0111\u00f3 l\u1ea5y l\u1ea1i ph\u1ea7n l\u1edbn m\u1ee9c t\u0103ng v\u00e0 \u1ed5n \u0111\u1ecbnh trong ph\u1ea1m vi h\u1eb9p tr\u00ean 157. C\u00e1c nh\u00e0 ph\u00e2n t\u00edch ngo\u1ea1i h\u1ed1i c\u1ee7a Wmax ch\u1ec9 ra r\u1eb1ng \u0111\u1ed3ng \u0111\u00f4 la M\u1ef9 so v\u1edbi \u0111\u1ed3ng y\u00ean \u0111\u00e3 ch\u1ecbu \u00e1p l\u1ef1c hai l\u1ea7n tr\u00ean 157. D\u1ea5u hi\u1ec7u n\u00e0y \u0111\u00e3 tr\u1edf th\u00e0nh \u0111i\u1ec3m m\u1ea5u ch\u1ed1t trong tr\u00f2 ch\u01a1i ng\u1eafn h\u1ea1n, d\u00e0i h\u1ea1n. Th\u1ecb tr\u01b0\u1eddng h\u1ebft s\u1ee9c c\u1ea3nh gi\u00e1c v\u1edbi vi\u1ec7c Nh\u1eadt B\u1ea3n \u0111i theo m\u00f4 h\u00ecnh n\u0103m 2024 v\u00e0 th\u1ef1c hi\u1ec7n nhi\u1ec1u h\u00e0nh \u0111\u1ed9ng ti\u1ebfp theo ng\u1eafn h\u1ea1n sau \u0111\u1ee3t can thi\u1ec7p \u0111\u1ea7u ti\u00ean.<\/p>\n

      <\/a>H\u1ed7 tr\u1ee3 ng\u1eafn h\u1ea1n v\u00e0 lo l\u1eafng d\u00e0i h\u1ea1n: Kh\u00f3 thay \u0111\u1ed5i logic xu h\u01b0\u1edbng gi\u1ea3m gi\u00e1 th\u00f4ng qua can thi\u1ec7p<\/strong><\/p>\n

      Wmax \u0111\u00e1nh gi\u00e1 r\u1eb1ng \u0111\u1ed3ng y\u00ean Nh\u1eadt s\u1ebd nh\u1eadn \u0111\u01b0\u1ee3c hai h\u1ed7 tr\u1ee3 c\u1ed1t l\u00f5i ch\u00ednh trong ng\u1eafn h\u1ea1n: Th\u1ee9 nh\u1ea5t, k\u1ef3 v\u1ecdng can thi\u1ec7p m\u1ea1nh m\u1ebd ti\u1ebfp t\u1ee5c, Nh\u1eadt B\u1ea3n c\u00f3 h\u01a1n 1,2 ngh\u00ecn t\u1ef7 \u0111\u00f4 la M\u1ef9 d\u1ef1 tr\u1eef ngo\u1ea1i h\u1ed1i, c\u00f3 th\u1ec3 h\u1ed7 tr\u1ee3 30 ho\u1ea1t \u0111\u1ed9ng c\u00f9ng c\u1ea5p d\u1ef1a tr\u00ean quy m\u00f4 can thi\u1ec7p c\u1ee7a tu\u1ea7n tr\u01b0\u1edbc, v\u00e0 quan ch\u1ee9c n\u00e0y tuy\u00ean b\u1ed1 r\u00f5 r\u00e0ng r\u1eb1ng \"kh\u00f4ng c\u00f3 c\u1eeda s\u1ed5 ch\u00e2n kh\u00f4ng can thi\u1ec7p\"; th\u1ee9 hai, k\u1ef3 v\u1ecdng c\u1ee7a Ng\u00e2n h\u00e0ng Nh\u1eadt B\u1ea3n v\u1ec1 vi\u1ec7c t\u0103ng l\u00e3i su\u1ea5t v\u00e0o th\u00e1ng 6 ti\u1ebfp t\u1ee5c t\u0103ng. T\u1ef7 l\u1ec7 b\u1ecf phi\u1ebfu cho ngh\u1ecb quy\u1ebft c\u1ee7a ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng tu\u1ea7n tr\u01b0\u1edbc l\u00e0 6:3, s\u1ed1 ng\u01b0\u1eddi ph\u1ea3n \u0111\u1ed1i vi\u1ec7c duy tr\u00ec l\u00e3i su\u1ea5t ng\u00e0y c\u00e0ng t\u0103ng, ph\u00e1t \u0111i t\u00edn hi\u1ec7u di\u1ec1u h\u00e2u r\u00f5 r\u00e0ng.<\/p>\n

      Tuy nhi\u00ean, trong trung v\u00e0 d\u00e0i h\u1ea1n, ph\u00e2n t\u00edch chuy\u00ean s\u00e2u c\u1ee7a Wmax ch\u1ec9 ra r\u1eb1ng hai y\u1ebfu t\u1ed1 th\u00fac \u0111\u1ea9y c\u1ed1t l\u00f5i d\u1eabn \u0111\u1ebfn vi\u1ec7c \u0111\u1ed3ng y\u00ean ti\u1ebfp t\u1ee5c m\u1ea5t gi\u00e1 v\u1ec1 c\u01a1 b\u1ea3n kh\u00f4ng thay \u0111\u1ed5i:<\/p>\n

        \n
      1. Ch\u00eanh l\u1ec7ch l\u00e3i su\u1ea5t M\u1ef9 v\u00e0 Nh\u1eadt kh\u00f3 \u0111\u1ea3o ng\u01b0\u1ee3c nhanh ch\u00f3ng<\/strong>: C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang ti\u1ebfp t\u1ee5c ho\u00e3n c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t do \u00e1p l\u1ef1c l\u1ea1m ph\u00e1t t\u0103ng tr\u1edf l\u1ea1i, trong khi t\u1ed1c \u0111\u1ed9 t\u0103ng l\u00e3i su\u1ea5t c\u1ee7a Ng\u00e2n h\u00e0ng Nh\u1eadt B\u1ea3n v\u1eabn t\u1ee5t h\u1eadu \u0111\u00e1ng k\u1ec3 so v\u1edbi m\u1ee9c \u0111\u1ed9 l\u1ea1m ph\u00e1t. Kho\u1ea3ng c\u00e1ch l\u00e3i su\u1ea5t gi\u1eefa M\u1ef9 v\u00e0 Nh\u1eadt B\u1ea3n ti\u1ebfp t\u1ee5c gia t\u0103ng kh\u00f3 c\u00f3 th\u1ec3 \u0111\u1ea3o ng\u01b0\u1ee3c trong ng\u1eafn h\u1ea1n. Thu\u1ed9c t\u00ednh c\u1ee7a \u0111\u1ed3ng y\u00ean Nh\u1eadt nh\u01b0 m\u1ed9t lo\u1ea1i ti\u1ec1n t\u1ec7 t\u00e0i tr\u1ee3 cho c\u00e1c giao d\u1ecbch bu\u00f4n b\u00e1n to\u00e0n c\u1ea7u s\u1ebd ti\u1ebfp t\u1ee5c t\u1ed3n t\u1ea1i trong m\u1ed9t th\u1eddi gian d\u00e0i.<\/li>\n
      2. Chi ph\u00ed nh\u1eadp kh\u1ea9u n\u0103ng l\u01b0\u1ee3ng ti\u1ebfp t\u1ee5c ch\u1ecbu \u00e1p l\u1ef1c<\/strong>: Xung \u0111\u1ed9t \u0111\u1ecba ch\u00ednh tr\u1ecb \u1edf Trung \u0110\u00f4ng ti\u1ebfp t\u1ee5c \u0111\u1ea9y gi\u00e1 d\u1ea7u qu\u1ed1c t\u1ebf t\u0103ng cao, v\u1edbi d\u1ea7u th\u00f4 Brent v\u01b0\u1ee3t 115 USD\/th\u00f9ng. L\u00e0 m\u1ed9t n\u1ec1n kinh t\u1ebf ph\u1ee5 thu\u1ed9c nhi\u1ec1u v\u00e0o nh\u1eadp kh\u1ea9u n\u0103ng l\u01b0\u1ee3ng, \u00e1p l\u1ef1c th\u00e2m h\u1ee5t c\u00e1n c\u00e2n th\u01b0\u01a1ng m\u1ea1i c\u1ee7a Nh\u1eadt B\u1ea3n s\u1ebd ti\u1ebfp t\u1ee5c \u0111\u00e8 n\u1eb7ng l\u00ean c\u00e1c y\u1ebfu t\u1ed1 c\u01a1 b\u1ea3n c\u1ee7a \u0111\u1ed3ng Y\u00ean Nh\u1eadt.<\/li>\n<\/ol>\n

        \"\u0110\u00e1nh<\/p>\n

        D\u1eef li\u1ec7u th\u1ecb tr\u01b0\u1eddng quy\u1ec1n ch\u1ecdn do Bloomberg t\u1ed5ng h\u1ee3p cho th\u1ea5y c\u00e1c nh\u00e0 giao d\u1ecbch hi\u1ec7n th\u1ea5y kho\u1ea3ng 52% kh\u1ea3 n\u0103ng \u0111\u1ed3ng y\u00ean s\u1ebd gi\u1ea3m xu\u1ed1ng d\u01b0\u1edbi m\u1ee9c 160 m\u1ed9t l\u1ea7n n\u1eefa v\u00e0o cu\u1ed1i th\u00e1ng 6 n\u0103m nay. Wmax nh\u1ea5n m\u1ea1nh r\u1eb1ng s\u1ef1 can thi\u1ec7p ngo\u1ea1i h\u1ed1i thu\u1ea7n t\u00fay ch\u1ec9 c\u00f3 th\u1ec3 l\u00e0m d\u1ecbu bi\u1ebfn \u0111\u1ed9ng t\u1ef7 gi\u00e1 h\u1ed1i \u0111o\u00e1i v\u00e0 ch\u1ed1ng \u0111\u1ea7u c\u01a1 trong ng\u1eafn h\u1ea1n, nh\u01b0ng v\u1ec1 c\u01a1 b\u1ea3n kh\u00f4ng th\u1ec3 \u0111\u1ea3o ng\u01b0\u1ee3c xu h\u01b0\u1edbng t\u1ef7 gi\u00e1 h\u1ed1i \u0111o\u00e1i \u0111\u01b0\u1ee3c x\u00e1c \u0111\u1ecbnh b\u1edfi c\u00e1c nguy\u00ean t\u1eafc c\u01a1 b\u1ea3n. N\u1ebfu Ng\u00e2n h\u00e0ng Nh\u1eadt B\u1ea3n kh\u00f4ng th\u1ec3 \u0111\u1ea9y nhanh t\u1ed1c \u0111\u1ed9 t\u0103ng l\u00e3i su\u1ea5t v\u1edbi t\u1ed1c \u0111\u1ed9 ph\u00f9 h\u1ee3p v\u1edbi l\u1ea1m ph\u00e1t, \u00e1p l\u1ef1c gi\u1ea3m gi\u00e1 d\u00e0i h\u1ea1n \u0111\u1ed1i v\u1edbi \u0111\u1ed3ng y\u00ean s\u1ebd v\u1eabn c\u00f2n.<\/p>\n

        <\/a>Tri\u1ec3n v\u1ecdng th\u1ecb tr\u01b0\u1eddng v\u00e0 chi\u1ebfn l\u01b0\u1ee3c giao d\u1ecbch c\u1ee7a Wmax<\/strong><\/p>\n

        T\u1ed5ng h\u1ee3p l\u1ea1i, ch\u00ednh quy\u1ec1n Nh\u1eadt B\u1ea3n \u0111\u00e3 \u1ed5n \u0111\u1ecbnh th\u00e0nh c\u00f4ng t\u1ef7 gi\u00e1 \u0111\u1ed3ng y\u00ean trong ng\u1eafn h\u1ea1n b\u1eb1ng c\u00e1ch l\u00e0m r\u00f5 c\u00e1c quy t\u1eafc can thi\u1ec7p v\u00e0 b\u00e1m s\u00e1t m\u1ed1c 160. Wmax d\u1ef1 \u0111o\u00e1n r\u1eb1ng \u0111\u1ed3ng \u0111\u00f4 la M\u1ef9 so v\u1edbi \u0111\u1ed3ng y\u00ean r\u1ea5t c\u00f3 th\u1ec3 s\u1ebd duy tr\u00ec m\u00f4 h\u00ecnh h\u1ee3p nh\u1ea5t \u0111\u1ea7y bi\u1ebfn \u0111\u1ed9ng trong ph\u1ea1m vi 155-160 trong hai th\u00e1ng t\u1edbi. Nh\u00e0 \u0111\u1ea7u t\u01b0 c\u1ea7n t\u1eadp trung v\u00e0o ba n\u00fat ch\u00ednh:<\/p>\n

          \n
        1. Li\u1ec7u B\u1ed9 T\u00e0i ch\u00ednh Nh\u1eadt B\u1ea3n c\u00f3 s\u1eed d\u1ee5ng hai c\u1eeda s\u1ed5 can thi\u1ec7p c\u00f2n l\u1ea1i khi t\u1ef7 gi\u00e1 l\u1ea1i ti\u1ebfn s\u00e1t m\u1ee9c 160 hay kh\u00f4ng;<\/li>\n
        2. Li\u1ec7u cu\u1ed9c h\u1ecdp l\u00e3i su\u1ea5t c\u1ee7a Ng\u00e2n h\u00e0ng Nh\u1eadt B\u1ea3n v\u00e0o th\u00e1ng 6 c\u00f3 ti\u1ebfn h\u00e0nh \u0111\u1ee3t t\u0103ng l\u00e3i su\u1ea5t l\u1ea7n th\u1ee9 hai nh\u01b0 d\u1ef1 ki\u1ebfn \u200b\u200bv\u00e0 \u0111\u01b0a ra t\u00edn hi\u1ec7u v\u1ec1 l\u1ed9 tr\u00ecnh t\u0103ng l\u00e3i su\u1ea5t ti\u1ebfp theo hay kh\u00f4ng;<\/li>\n
        3. T\u00e1c \u0111\u1ed9ng c\u1ee7a di\u1ec5n bi\u1ebfn xung \u0111\u1ed9t \u0111\u1ecba ch\u00ednh tr\u1ecb \u1edf Trung \u0110\u00f4ng t\u1edbi gi\u00e1 d\u1ea7u qu\u1ed1c t\u1ebf v\u00e0 nh\u1eefng thay \u0111\u1ed5i k\u00e9o theo trong c\u00e1n c\u00e2n th\u01b0\u01a1ng m\u1ea1i c\u1ee7a Nh\u1eadt B\u1ea3n.<\/li>\n<\/ol>\n

          V\u1ec1 chi\u1ebfn l\u01b0\u1ee3c giao d\u1ecbch, Wmax khuy\u1ebfn ngh\u1ecb c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 tr\u00e1nh \u0111\u1eb7t c\u01b0\u1ee3c \u0111\u01a1n ph\u01b0\u01a1ng v\u00e0o xu h\u01b0\u1edbng c\u1ee7a \u0111\u1ed3ng y\u00ean Nh\u1eadt trong m\u00f4i tr\u01b0\u1eddng th\u1ecb tr\u01b0\u1eddng c\u00f3 nhi\u1ec1u b\u1ea5t \u1ed5n hi\u1ec7n nay. Trong ng\u1eafn h\u1ea1n, b\u1ea1n c\u00f3 th\u1ec3 d\u1ef1a v\u00e0o ph\u1ea1m vi 155-160 \u0111\u1ec3 b\u00e1n cao v\u00e0 mua th\u1ea5p, \u0111\u1ed3ng th\u1eddi c\u1ea3nh gi\u00e1c v\u1edbi nh\u1eefng bi\u1ebfn \u0111\u1ed9ng ch\u00eanh l\u1ec7ch m\u1ea1nh trong t\u1ef7 gi\u00e1 h\u1ed1i \u0111o\u00e1i do tin t\u1ee9c can thi\u1ec7p g\u00e2y ra; trong trung v\u00e0 d\u00e0i h\u1ea1n, c\u1ea7n ch\u00fa \u00fd \u0111\u1ebfn nh\u1eefng thay \u0111\u1ed5i c\u1eadn bi\u00ean trong s\u1ef1 kh\u00e1c bi\u1ec7t trong ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 gi\u1eefa M\u1ef9 v\u00e0 Nh\u1eadt B\u1ea3n. Sau khi Ng\u00e2n h\u00e0ng Nh\u1eadt B\u1ea3n t\u0103ng t\u1ed1c r\u00f5 r\u00e0ng vi\u1ec7c t\u0103ng l\u00e3i su\u1ea5t v\u00e0 C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang b\u1eaft \u0111\u1ea7u chu k\u1ef3 c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t, xu h\u01b0\u1edbng t\u0103ng gi\u00e1 c\u1ee7a th\u1ecb tr\u01b0\u1eddng \u0111\u1ed3ng y\u00ean Nh\u1eadt s\u1ebd \u0111\u01b0\u1ee3c l\u00ean k\u1ebf ho\u1ea1ch. Ho\u1ea1t \u0111\u1ed9ng t\u1ed5ng th\u1ec3 \u0111\u00f2i h\u1ecfi ph\u1ea3i ki\u1ec3m so\u00e1t ch\u1eb7t ch\u1ebd c\u00e1c v\u1ecb tr\u00ed v\u00e0 ph\u00f2ng ng\u1eeba r\u1ee7i ro.<\/p>\n\n\n

          <\/p>","protected":false},"excerpt":{"rendered":"

          L\u1ea7n \u0111\u1ea7u ti\u00ean, B\u1ed9 T\u00e0i ch\u00ednh Nh\u1eadt B\u1ea3n c\u00f4ng khai tr\u00edch d\u1eabn khu\u00f4n kh\u1ed5 c\u1ee7a IMF nh\u1eb1m l\u00e0m r\u00f5 c\u00e1c quy \u0111\u1ecbnh v\u1ec1 can thi\u1ec7p th\u1ecb tr\u01b0\u1eddng ngo\u1ea1i h\u1ed1i. \u0110i\u1ec3m 160 \u0111\u00e3 tr\u1edf th\u00e0nh tuy\u1ebfn ph\u00f2ng th\u1ee7 c\u1ee9ng kh\u00f4ng th\u1ec3 v\u01b0\u1ee3t qua v\u00e0 quy m\u00f4 can thi\u1ec7p ng\u1eafn h\u1ea1n l\u00e0 kho\u1ea3ng 34,5 t\u1ef7 USD. \u0110\u1ed3ng y\u00ean \u0111\u01b0\u1ee3c h\u1ed7 tr\u1ee3 trong ng\u1eafn h\u1ea1n b\u1edfi k\u1ef3 v\u1ecdng v\u1ec1 s\u1ef1 can thi\u1ec7p v\u00e0 t\u0103ng l\u00e3i su\u1ea5t v\u00e0o th\u00e1ng 6, \u0111\u1ed3ng th\u1eddi c\u00f3 kh\u1ea3 n\u0103ng dao \u0111\u1ed9ng trong kho\u1ea3ng 155-160; tuy nhi\u00ean, m\u00e2u thu\u1eabn c\u1ed1t l\u00f5i gi\u1eefa ch\u00eanh l\u1ec7ch l\u00e3i su\u1ea5t M\u1ef9 - Nh\u1eadt v\u00e0 chi ph\u00ed nh\u1eadp kh\u1ea9u n\u0103ng l\u01b0\u1ee3ng cao trong trung v\u00e0 d\u00e0i h\u1ea1n v\u1eabn ch\u01b0a \u0111\u01b0\u1ee3c \u0111\u1ea3o ng\u01b0\u1ee3c v\u00e0 kh\u00f3 c\u00f3 th\u1ec3 thay \u0111\u1ed5i xu h\u01b0\u1edbng \u00e1p l\u1ef1c gi\u1ea3m gi\u00e1 ch\u1ec9 b\u1eb1ng s\u1ef1 can thi\u1ec7p \u0111\u01a1n gi\u1ea3n.<\/p>","protected":false},"author":1,"featured_media":9830,"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":[987,891,989,988],"class_list":["post-9829","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financial-news","tag-imf","tag-891","tag-989","tag-988"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.kpai1.cn\/vi\/wp-json\/wp\/v2\/posts\/9829","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=9829"}],"version-history":[{"count":1,"href":"https:\/\/www.kpai1.cn\/vi\/wp-json\/wp\/v2\/posts\/9829\/revisions"}],"predecessor-version":[{"id":9834,"href":"https:\/\/www.kpai1.cn\/vi\/wp-json\/wp\/v2\/posts\/9829\/revisions\/9834"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.kpai1.cn\/vi\/wp-json\/wp\/v2\/media\/9830"}],"wp:attachment":[{"href":"https:\/\/www.kpai1.cn\/vi\/wp-json\/wp\/v2\/media?parent=9829"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.kpai1.cn\/vi\/wp-json\/wp\/v2\/categories?post=9829"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.kpai1.cn\/vi\/wp-json\/wp\/v2\/tags?post=9829"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}