{"id":11109,"date":"2026-01-15T08:52:31","date_gmt":"2026-01-15T11:52:31","guid":{"rendered":"https:\/\/hanin.org.ar\/?p=11109"},"modified":"2026-01-15T12:34:11","modified_gmt":"2026-01-15T15:34:11","slug":"%ec%98%a4%eb%8a%98%ec%9d%98-%ea%b2%bd%ec%a0%9c01%ec%9b%94-14%ec%9d%bc","status":"publish","type":"post","link":"https:\/\/hanin.org.ar\/?p=11109","title":{"rendered":"\uc624\ub298\uc758 \uacbd\uc81c(01\uc6d4 14\uc77c)"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

\uc624\ub298\uc758 \uacbd\uc81c<\/p>\n\n\n\n

    \n
  1. 12\uc6d4 \uc778\ud50c\ub808\uc774\uc158 2.8% \uc0c1\uc2b9, 2025\ub144 2017\ub144 \uc774\ud6c4 \ucd5c\uc800 \uc218\uc900
    12\uc6d4 \uc778\ud50c\ub808\uc774\uc158\uc740 4\uac1c\uc6d4 \uc5f0\uc18d\uc73c\ub85c \uac00\uc18d\ud654\ub418\uba70 2.8%\uc5d0 \ub3c4\ub2ec\ud588\uace0, \uc774\ub294 \uc2dc\uc7a5 \uc608\uc0c1\uce58\ub97c \uc6c3\ub3c4\ub294 \uc218\uc900\uc774\ub77c\uace0 INDEC(\uad6d\uac00\ud1b5\uacc4\uccad)\uc774 \ubc1c\ud45c\ud588\ub2e4. \uadf8\ub7fc\uc5d0\ub3c4 \ubd88\uad6c\ud558\uace0 2025\ub144 \uc5f0\uac04 \ubb3c\uac00\uc0c1\uc2b9\ub960\uc740 31.5%\ub85c \ub9c8\uac10\ub418\uc5c8\ub294\ub370, \uc774\ub294 \uc9c0\uc218\uac00 24.8%\ub85c \ub05d\ub0ac\ub358 2017\ub144 \uc774\ud6c4 \ucd5c\uc800 \uae30\ub85d\uc774\ub2e4.
    \uc6d4\uac04 \uc0c1\uc2b9\uc740 \uc8fc\ub85c \uaddc\uc81c \uac00\uaca9\uc774 3.3% \uc0c1\uc2b9\ud55c \ub370\uc11c \ube44\ub86f\ub418\uc5c8\uc73c\uba70, \uc774\ub294 \uad50\ud1b5\ube44\uc640 \uc5f0\ub8cc \uac00\uaca9 \uc778\uc0c1\uc758 \uc601\ud5a5\uc774 \ucef8\ub2e4.
    \uadfc\uc6d0 \ubb3c\uac00(IPC N\u00facleo) \uc5ed\uc2dc \uac00\uc18d\ud654\ub418\uc5b4 3%\ub97c \uae30\ub85d\ud588\ub294\ub370, \uc774\ub294 11\uc6d4\ubcf4\ub2e4 0.4%p \ub192\uc740 \uc218\uc900\uc774\uba70, \ubd80\ubd84\uc801\uc73c\ub85c\ub294 \uc721\ub958 \uac00\uaca9\uc774 \uc57d 10% \uac00\uae4c\uc774 \uc0c1\uc2b9\ud55c \uac83\uc774 \uc6d0\uc778\uc774\ub2e4.
    \ubc18\uba74 \uacc4\uc808 \uac00\uaca9(Estacionales)\uc740 0.6% \uc0c1\uc2b9\uc5d0 \uadf8\ucce4\ub2e4.
    \ub9c8\uc9c0\ub9c9\uc73c\ub85c \ud1b5\uacc4\uccad\uc740 2026\ub144 1\uc6d4\ubd80\ud130 2017~2018\ub144 \uac00\uacc4\uc9c0\ucd9c\uc870\uc0ac\ub97c \uae30\ubc18\uc73c\ub85c \ud55c \uc0c8\ub85c\uc6b4 \uc18c\ube44\uc790\ubb3c\uac00 \ubc14\uc2a4\ucf13\uc774 \uc801\uc6a9\ub420 \uac83\uc774\ub77c\uace0 \uc0c1\uae30\uc2dc\ucf30\uc73c\uba70, \uc774\ub85c \uc778\ud574 \uacf5\uacf5\u00b7\ubbfc\uac04 \uc11c\ube44\uc2a4\uc758 \ube44\uc911\uc740 \ub192\uc544\uc9c0\uace0, \uc2dd\ub8cc\ud488\uacfc \uc758\ub958\uc758 \uc0c1\ub300\uc801 \ube44\uc911\uc740 \ub0ae\uc544\uc9c8 \uac83\uc774\ub77c\uace0 \ubc1d\ud614\ub2e4.
    Wise Capital \ud22c\uc790\ud68c\uc0ac\ub294 \uc774\ub7ec\ud55c \uc810\uc744 \uace0\ub824\ud560 \ub54c, \uc62c\ud574 \uc18c\ube44\uc790\ubb3c\uac00(IPC)\uc758 \ud558\ub77d \ud750\ub984\uc774 \uc9c0\uc18d\ub420 \uac83\uc73c\ub85c \ubcf4\uba70, \ubc29\ubc95\ub860 \uc7ac\uc815\ube44\uc640 \uc0c8\ub85c\uc6b4 \uac00\uc911\uce58 \uc801\uc6a9\uc744 \uac10\uc548\ud560 \uacbd\uc6b0 \uc5f0\uac04 24.3% \uc218\uc900\uc744 \uc608\uc0c1\ud558\uace0 \uc788\ub2e4.
    \ub610\ud55c \uacf5\uacf5\uc9c0\ucd9c \ucd95\uc18c\uc758 \uc9c0\uc18d\uc131 \ubfd0\ub9cc \uc544\ub2c8\ub77c, \uac00\uaca9 \uc644\ud654\uc5d0 \uae30\uc5ec\ud560 \uc218 \uc788\ub294 \uacbd\uc7c1 \uc2ec\ud654\ub3c4 \ud568\uaed8 \uace0\ub824\ub418\uace0 \uc788\ub2e4.
    \uc774\ub7ec\ud55c \uc694\uc18c\ub4e4\uc744 \uc885\ud569\ud560 \ub54c, 1\uc6d4 \uc778\ud50c\ub808\uc774\uc158\uc740 \uc57d 2.4% \uc218\uc900\uc774 \uc608\uc0c1\ub418\uba70, \ub3d9\uc2dc\uc5d0 \uc721\ub958 \uac00\uaca9\uc758 \uc0c1\uc2b9 \uc555\ub825\uacfc \uc6d4\uc911 \uc9c4\uc5f4\ub300 \uac00\uaca9 \uc870\uc815(\uc18c\ub9e4\uac00 \uc870\uc815)\uc758 \uc601\ud5a5\uc774 \uacc4\uc18d\ub420 \uac83\uc73c\ub85c \uc804\ub9dd\ub41c\ub2e4.
    <\/li>\n\n\n\n
  2. \uc720\ub3d9\uc131 \ubd80\uc871\ud55c \uc2dc\uc7a5\uc5d0\uc11c \uc7ac\ubb34 \uccad, \uc911\uc694\ud55c \ud398\uc18c\ud654 \ucc44\uad8c \uc785\ucc30 \uc9c1\uba74
    \uacbd\uc81c\ubd80\ub294 \uc624\ub298 \ud398\uc18c\ud654 \ucc44\uad8c \uc2dc\uc7a5\uc5d0\uc11c \uacb0\uc815\uc801\uc778 \uc2dc\ud5d8\uc5d0 \uc9c1\uba74\ud558\uac8c \ub418\ub294\ub370, \ub9cc\uae30 \ub3c4\ub798 \uae08\uc561\uc740 9.6\uc870 \ud398\uc18c\uc5d0 \ub2ec\ud55c\ub2e4.
    \uc774\ubc88 \uc785\ucc30\uc740 2026\ub144 \uc678\ud654\ud45c\uc2dc \ubd80\ucc44\uc758 \uc6d0\uae08 \uc0c1\ud658\uc744 \uc774\ud589\ud55c \uc9c1\ud6c4\uc5d0 \uc2e4\uc2dc\ub418\ub294 \uc62c\ud574 \uccab \uad6d\ub0b4\ud1b5\ud654 \uc785\ucc30\uc774\ub2e4.
    \uc7ac\ubb34 \uccad \uc0b0\ud558 \uae08\uc735\uad6d\uc774 \uc8fc\uad00\ud558\ub294 \uc774\ubc88 \uac70\ub798\uc758 \ud575\uc2ec \ubaa9\ud45c\ub294 \ub9cc\uae30\uac00 \ub3c4\ub798\ud558\ub294 \ucc44\ubb34\uc758 \ucc28\ud658\uc774\uba70, \ud2b9\ud788 \ub450 \uac1c\uc758 \uc790\ubcf8\ud654 \uad6d\ucc44(LECAP)\uc5d0 \ub9cc\uae30\uac00 \uc9d1\uc911\ub418\uc5b4 \uc788\ub2e4.
    \uc774\ubc88 \uc785\ucc30 \uacb0\uacfc\ub294 \ud22c\uc790\uc790\ub4e4\uc758 \ud398\uc18c\ud654 \uae08\uc735\uc0c1\ud488\uc5d0 \ub300\ud55c \uc120\ud638\ub3c4, \uadf8\ub9ac\uace0 \uc7ac\ubb34\uccad\uc774 \uae08\uc735\ube44\uc6a9\uc744 \ud06c\uac8c \ub192\uc774\uc9c0 \uc54a\uace0 \ub864\uc624\ubc84\ub97c \uc720\uc9c0\ud560 \uc218 \uc788\ub294 \ub2a5\ub825\uc744 \uac00\ub2a0\ud558\ub294 \ud575\uc2ec \uc2e0\ud638\uac00 \ub420 \uac83\uc774\ub2e4.
    \uc81c\uc2dc\ub41c \uc0c1\ud488 \uad6c\uc131\uc5d0\ub294 \uc790\ubcf8\ud654 \uad6d\ucc44, \ubb3c\uac00\uc5f0\ub3d9 \ucc44\uad8c, \ub2ec\ub7ec \uc5f0\ub3d9 \uc0c1\ud488, \uace0\uc815\uae08\ub9ac \ucc44\uad8c\uc774 \ud3ec\ud568\ub418\uc5b4 \uc788\ub2e4.
    \uc774\ub7ec\ud55c \uc870\ud569\uc744 \ud1b5\ud574 \uc815\ubd80\ub294 \ubd80\ucc44\uc758 \ud3c9\uade0 \ub9cc\uae30\ub97c \ub298\ub9ac\ub294 \ub3d9\uc2dc\uc5d0, \uad6d\ub0b4\ud1b5\ud654 \ubd80\ucc44 \uc794\uc561\uc5d0 \ub0b4\uc7ac\ub41c \uc774\uc790\uc728\uc744 \uc644\ud654\ud558\ub294 \uac83\uc744 \ubaa9\ud45c\ub85c \ud558\uace0 \uc788\ub2e4.
    \uc785\ucc30\uc740 \ub2e8\uae30 \uae08\ub9ac\uc758 \ucd5c\uadfc \uc0c1\uc2b9\uacfc \ubcc0\ub3d9\uc131\uc73c\ub85c \ub4dc\ub7ec\ub09c \uae08\uc735\uc2dc\uc7a5\uc758 \ud398\uc18c \ubd80\uc871 \uc0c1\ud669 \uc18d\uc5d0\uc11c \uc9c4\ud589\ub420 \uc608\uc815\uc774\ub2e4.
    \uc774\ub7ec\ud55c \uc694\uc18c\ub294 \ucd94\uac00\uc801\uc778 \ubd88\ud655\uc2e4\uc131\uc744 \uc57c\uae30\ud558\ub294\ub370, \uc774\ub294 \ud22c\uc790\uc790\ub4e4\uc758 \ucc38\uc5ec \uc218\uc900\ubfd0 \uc544\ub2c8\ub77c \ub192\uc740 \ub9cc\uae30 \uac31\uc2e0\uc744 \ub2ec\uc131\ud558\uae30 \uc704\ud574 \uc7ac\ubb34\uccad\uc774 \uc218\uc6a9\ud574\uc57c \ud560 \uae08\ub9ac \uc218\uc900 \ubaa8\ub450\uc5d0 \uc601\ud5a5\uc744 \ubbf8\uce60 \uc218 \uc788\uae30 \ub54c\ubb38\uc774\ub2e4.
    \uc778\ud3ec\ubc14\uc5d0(Infobae)\uc9c0\uc5d0 \uac8c\uc7ac\ub41c \ubcf4\ub3c4\uc5d0\uc11c \ub2e4\uc74c\uacfc \uac19\uc774 \uc9c0\uc801\ud588\ub2e4.
    \u201c\uae08\uc735\uad6d\uc740 \ub0b4\uc77c \ubbfc\uac04 \ud22c\uc790\uc790\ub4e4\uc774 \ubcf4\uc720\ud55c \ucc44\uad8c\uacfc \uad6d\ucc44 \ub9cc\uae30 \uc57d 9.6\uc870 \ud398\uc18c \uc804\uc561\uc744 \uc7ac\ud761\uc218 \ud558\ub824 \ud560 \uac83\uc774\uba70, \uc774\ub294 \uae08\ub9ac \ubcc0\ub3d9\uc131\uc774 \ud06c\uace0 \ub2e8\uae30 \ub9cc\uae30 \uc9d1\uc911\ub3c4\uac00 \ub192\uc740 \ud658\uacbd\uc5d0\uc11c \uc774\ub8e8\uc5b4\uc9c4\ub2e4.
    \uc774\ubc88 \uacb0\uacfc\ub294 \uc7ac\ubb34\uccad\uc774 \uae4c\ub2e4\ub85c\uc6b4 \uae08\uc735 \ud658\uacbd \uc18d\uc5d0\uc11c \ub9cc\uae30 \uad6c\uc870\ub97c \uad00\ub9ac\ud560 \uc218 \uc788\ub294 \ub2a5\ub825\uc744 \ud3c9\uac00\ud558\ub294 \uc9c0\ud45c\uac00 \ub420 \uac83\uc774\ub2e4.\u201d
    <\/li>\n\n\n\n
  3. \uacf5\uc2dd \ub2ec\ub7ec \ud658\uc728, \ubc34\ub4dc \uc0c1\ub2e8\uc5d0\uc11c \uba40\uc5b4\uc9c0\uba70 \ub450 \ub2ec \ub9cc\uc5d0 \ucd5c\ub300 \ud558\ub77d \uae30\ub85d
    \uacf5\uc2dd \ub2ec\ub7ec \ud658\uc728\uc740 \uc774\ubc88 \ud654\uc694\uc77c \ucd5c\uadfc \ub450 \ub2ec \uc0ac\uc774 \ucd5c\ub300 \uc77c\uc77c \ud558\ub77d\ud3ed\uc744 \uae30\ub85d\ud558\uba70, \ud658\uc728 \ubc34\ub4dc \uc0c1\ub2e8\uc5d0\uc11c \ub354 \uba40\uc5b4\uc84c\ub2e4. \uc774\ub294 \uc2dc\uc7a5\uc774 \ub2e8\uae30 \uae08\ub9ac\uc758 \ubcc0\ub3d9\uc131\uc744 \uba74\ubc00\ud788 \ucd94\uc801\ud558\ub358 \ub0a0\uc5d0 \ubc1c\uc0dd\ud588\ub2e4.
    \uad6d\uc601\uc740\ud589(Banco Naci\u00f3n)\uc5d0\uc11c\ub294 \ud658\uc728\uc774 5\ud398\uc18c \ud558\ub77d\ud574 1,485\ud398\uc18c\ub85c \ub9c8\uac10\ud588\ub2e4.
    \ub3c4\ub9e4\uc2dc\uc7a5\uc5d0\uc11c\ub294 \ud558\ub77d\ud3ed\uc774 \ub354 \ucef8\ub294\ub370, \ub2ec\ub7ec\uac00 10.50\ud398\uc18c \ud558\ub77d\ud558\uc5ec 1,457\ud398\uc18c\uac00 \ub418\uc5c8\uc73c\uba70, \uc774\ub294 \ubc34\ub4dc \uc0c1\ub2e8(1,542\ud398\uc18c) \ub300\ube44 5.8% \ub0ae\uc740 \uc218\uc900\uc774\ub2e4. \uc774\ub294 \uac70\uc758 \ub450 \ub2ec \ub9cc\uc5d0 \ud658\uc728 \uc0c1\ub2e8\uacfc\uc758 \ucd5c\ub300 \uaca9\ucc28\ud3ed\uc774\ub2e4.
    \uae08\uc735 \ub2ec\ub7ec\uc758 \uacbd\uc6b0 \uc6c0\uc9c1\uc784\uc740 \uc81c\ud55c\uc801\uc774\uc5c8\ub2e4.
    CCL \ud658\uc728\uc740 1,522.32\ud398\uc18c\ub85c \uac70\uc758 \ubcc0\ub3d9\uc774 \uc5c6\uc5c8\uace0, MEP \ud658\uc728\uc740 1,487.11\ud398\uc18c\ub97c \uae30\ub85d\ud588\ub2e4.
    \uadf8 \uacb0\uacfc \ud658\uc728 \uaca9\ucc28\ub294 \uac01\uac01 4.48%\uc640 2.07%\ub85c \ub9c8\uac10\ub418\uc5c8\ub2e4.
    <\/li>\n\n\n\n
  4. BCRA, \ub2ec\ub7ec 7\uac70\ub798\uc77c \uc5f0\uc18d \uc21c\ub9e4\uc218
    \uc544\ub974\ud5e8\ud2f0\ub098 \uc911\uc559\uc740\ud589(BCRA)\uc740 \uacf5\uc2dd \uc678\ud658\uc2dc\uc7a5\uc5d0\uc11c 7\uac70\ub798\uc77c \uc5f0\uc18d \ub2ec\ub7ec \uc21c\ub9e4\uc218\ub97c \uae30\ub85d\ud588\ub2e4. \uc774\ub0a0 \uc911\uc559\uc740\ud589\uc740 \uc790\uc720\uc678\ud658\uc2dc\uc7a5(MLC)\uc5d0\uc11c 5,500\ub9cc \ub2ec\ub7ec\ub97c \ub9e4\uc785\ud588\ub2e4.
    \uc774\ub85c\uc368 1\uc6d4 \uccab 8\uac70\ub798\uc77c \ub3d9\uc548 \ub204\uc801 \ub9e4\uc785\uc561\uc740 3\uc5b5 2,800\ub9cc \ub2ec\ub7ec\uc5d0 \ub2ec\ud588\uc73c\uba70, \uc77c\ud3c9\uade0 \ub9e4\uc785 \uaddc\ubaa8\ub294 4,100\ub9cc \ub2ec\ub7ec \uc218\uc900\uc774\ub2e4.
    \ub2e4\ub9cc, \ucd1d \uc678\ud658\ubcf4\uc720\uc561\uc740 8,800\ub9cc \ub2ec\ub7ec \uac10\uc18c\ud558\uc5ec 446\uc5b5 8\ucc9c\ub9cc \ub2ec\ub7ec\ub85c \uc9d1\uacc4\ub418\uc5c8\ub2e4. \uc774\ub294 \uc911\uc559\uc740\ud589 \ub300\ucc28\ub300\uc870\ud45c\uc5d0 \ud3ec\ud568\ub41c \uc790\uc0b0\ub4e4\uc758 \ud3c9\uac00\uac00\uce58 \ud558\ub77d\uc5d0 \ub530\ub978 \uac83\uc774\ub2e4.
    \uc774\uc640 \uad00\ub828 iProfesional\uc740 \ub2e4\uc74c\uacfc \uac19\uc774 \ubd84\uc11d\ud588\ub2e4.
    \u201c\uc911\uc559\uc740\ud589\uc758 \ub2ec\ub7ec \ub9e4\uc785\uc740 \ud658\uc728\uc774 \uc0c1\ub300\uc801\uc73c\ub85c \uc548\uc815\uc801\uc778 \ud658\uacbd\uc5d0\uc11c \uc774\ub8e8\uc5b4\uc9c0\uace0 \uc788\uc73c\uba70, \ub2ec\ub7ec \ud658\uc728\uc740 \uc0c8\ub85c\uc6b4 \ud658\uc728 \uc81c\ub3c4\uc5d0\uc11c \uc124\uc815\ub41c \ubcc0\ub3d9 \ubc94\uc704 \ub0b4\uc5d0 \uba38\ubb3c\ub7ec \uc788\ub2e4.
    \uc62c\ud574\ubd80\ud130\ub294 \ud658\uc728 \ubc34\ub4dc\uac00 INDEC\uac00 \ubc1c\ud45c\ud558\ub294 \ucd5c\uc2e0 \uc778\ud50c\ub808\uc774\uc158 \uc218\uce58\uc5d0 \uc5f0\ub3d9\ub418\uc5b4 \uc870\uc815\ub418\uba70, \uc774\uc5d0 \ub530\ub77c \uacf5\uc2dd \uc678\ud658\uc2dc\uc7a5 \uac1c\uc785 \ud55c\uacc4\ub3c4 \uc7ac\uc815\uc758\ub418\uace0 \uc788\ub2e4.\u201d
    <\/li>\n\n\n\n
  5. \uc720\ub3d9\uc131 \uc704\uae30 \uc18d \ub2e8\uae30\uae08\ub9ac \uae09\ub4f1
    \uc720\ub3d9\uc131 \uc704\uae30 \uc18d\uc5d0\uc11c \ub2e8\uae30\uae08\ub9ac\uac00 \ub2e4\uc2dc \uae09\ub4f1\ud588\ub2e4.
    \ub2e8\uae30 \uc774\uc790\uc728\uc740 \uc720\ub3d9\uc131 \uae34\uc7a5\uc774 \uc7ac \uc810\ud654\ub418\uace0 \ud398\uc18c\ud654 \uc218\uc694\uac00 \uac15\ud574\uc9c4 \uc0c1\ud669\uc5d0\uc11c \uadf9\ub3c4\ub85c \ub192\uc740 \uc218\uc900\uc73c\ub85c \ubcf5\uadc0\ud588\uc73c\uba70, \uc815\ubd80\ub294 \ud658\uc728 \uc548\uc815\uc744 \uc6b0\uc120\uc2dc\ud558\uace0 \uc788\ub2e4.
    1\uc77c\ubb3c \ucf5c\uae08\ub9ac(cauci\u00f3n)\ub294 \uc8fc \ucd08\uc5d0 \uc5f0\uc728(TNA) \uae30\uc900 \ucd5c\ub300 150%\uae4c\uc9c0 \uae09\ub4f1\ud588\ub2e4. \uc774\ud6c4 \uc804\uc77c\uc5d0\ub294 370bp(3.70%p) \ucd94\uac00 \uc0c1\uc2b9\ud558\uba70 \ubd80\uc5d0\ub178\uc2a4\uc544\uc774\ub808\uc2a4 \uc99d\uad8c\uc2dc\uc7a5\uc5d0\uc11c \ud3c9\uade0 45.1% TNA\ub85c \uac70\ub798\ub418\uc5c8\ub294\ub370, \uc774\ub294 \uc62c\ud574 \ub4e4\uc5b4 \ucd5c\uace0\uce58\ub2e4.
    1\uc6d4 \ucd08 \uae08\uc735\uc2dc\uc7a5\uc740 \ud658\uc728 \ubc34\ub4dc \ud55c\uacc4\uac00 \uc778\ud50c\ub808\uc774\uc158\uc5d0 \ub9de\ucdb0 \uc870\uc815\ub41c \uc810, \uc911\uc559\uc740\ud589\uc758 \uc678\ud658\ubcf4\uc720\uc561 \ub9e4\uc785 \ud504\ub85c\uadf8\ub7a8\uc758 \uc601\ud5a5\uc744 \ub3d9\uc2dc\uc5d0 \ubc1b\uc558\ub2e4.
    \uc911\uc559\uc740\ud589\uc740 1\uc6d4 \uccab \uc8fc\uc5d0\ub9cc 2\uc5b5 \ub2ec\ub7ec \uc774\uc0c1\uc744 \ub9e4\uc785\ud588\ub2e4.
    \uc774\ub7ec\ud55c \uc815\ucc45 \uc870\ud569\uc740 \uc774\uc804 \uc8fc\ubcf4\ub2e4 \ud658\uc728 \uc555\ub825\uc744 \ud655\ub300\uc2dc\ucf30\uace0, \uadf8 \uacb0\uacfc \uc7ac\ubb34\uccad\uc740 \uc2dc\uc7a5\uc5d0\uc11c \ub2ec\ub7ec\ub97c \ub9e4\ub3c4\ud588\uc73c\uba70, BCRA\ub294 \ub2ec\ub7ec \uc5f0\ub3d9 \ucc44\uad8c(d\u00f3lar linked)\uc744 \uc644\ucda9 \uc218\ub2e8\uc73c\ub85c \uc81c\uc2dc\ud588\ub2e4.
    \ub3d9\uc2dc\uc5d0 12\uc6d4\uc5d0 \ubc18\ubcf5\ub418\ub294 \uacc4\uc808\uc801 \ud604\uae08 \uc218\uc694 \uc99d\uac00\uac00 \ub2e4\uc2dc \ud55c\ubc88 \uc740\ud589 \uc720\ub3d9\uc131\uc744 \uc555\ubc15\ud558\uba70,
    \ub2e8\uae30\uae08\ub9ac\ub97c \uc0c1\uc2b9\uc2dc\ud0a4\uace0 \ubcc0\ub3d9\uc131\uc744 \ud655\ub300\uc2dc\ucf30\ub2e4.
    \uc815\ubd80\ub294 \uc774\ub7ec\ud55c \ud658\uacbd \uc18d\uc5d0\uc11c
    \u201c\ud658\uc728\uc758 \uae09\uaca9\ud55c \ubcc0\ub3d9\uc744 \ub9c9\ub294 \uac83\uc774 \ucd5c\uc6b0\uc120 \uacfc\uc81c\uc774\uba70, \uc774\ub97c \uc704\ud574 \uace0\uae08\ub9ac \uc720\uc9c0\ub3c4 \uac10\uc218\ud560 \uc218 \uc788\ub2e4\u201d\ub294 \uc785\uc7a5\uc744 \ubd84\uba85\ud788 \ud588\ub2e4.
    \uc774\uc640 \ud568\uaed8, \uc720\ub3d9\uc131 \uc704\uae30\ub294 \uc678\ud654 \ud655\ubcf4\ub97c \uc704\ud55c \uc815\ubd80 \uc804\ub7b5\uacfc\ub3c4 \uc5f0\uad00\ub418\uc5b4 \uc788\ub2e4.
    \uc7ac\ubb34\uccad\uc740 \ub9cc\uae30 \uc0c1\ud658\uc744 \uc704\ud574 \ud544\uc694\ud55c 43\uc5b5 \ub2ec\ub7ec\ub97c \uc790\uccb4\uc801\uc73c\ub85c \uc870\ub2ec\ud588\uc9c0\ub9cc, \uc911\uc559\uc740\ud589\uc740 \uad6d\uc81c \uc740\ud589\ub4e4 \uacfc\uc758 REPO (\ud658\ub9e4\uc870\uac74\ubd80\ucc44\uad8c) \uacc4\uc57d\uc744 \ud1b5\ud574 \ucd94\uac00\ub85c 30\uc5b5 \ub2ec\ub7ec\ub97c \uc870\ub2ec\ud574\uc57c \ud588\ub2e4.
    <\/li>\n\n\n\n
  6. \ucc44\uad8c \ud558\ub77d\u00b7\uad6d\uac00\uc704\ud5d8\ub3c4 \ud55c \ub2ec \ucd5c\uace0\uce58
    \ucc44\uad8c \uac00\uaca9\uc740 \ud558\ub77d\ud588\uace0, \uad6d\uac00\uc704\ud5d8\ub3c4\ub294 \ud55c \ub2ec \ub9cc\uc5d0 \ucd5c\uace0\uce58\ub97c \uae30\ub85d\ud588\ub2e4.
    S&P \uba54\ub974\ubc1c \uc9c0\uc218\ub294 2\uac70\ub798\uc77c \uc5f0\uc18d \ud558\ub77d\ud588\uc73c\uba70,
    \ud398\uc18c \uae30\uc900 \u20131.3%, \ub2ec\ub7ec \uae30\uc900 \u20130.9% \ud558\ub77d\ud588\ub2e4.
    \uc8fc\uc694 \uc885\ubaa9 \uc804\ubc18\uc5d0\uc11c \uad11\ubc94\uc704\ud55c \ud558\ub77d\uc138\uac00 \ub098\ud0c0\ub0ac\uace0, \uc774\ub7ec\ud55c \ud750\ub984\uc740 \uc77c\ubc18 \uc885\ubaa9\uc73c\ub85c\ub3c4 \ud655\uc0b0\ub410\ub2e4.
    \uc774\ub7ec\ud55c \ubd80\uc9c4\uc740 \uae00\ub85c\ubc8c \ubcc0\ub3d9\uc131 \ud655\ub300, \ubbf8\uad6d \ub300\ud1b5\ub839 \ub3c4\ub110\ub4dc \ud2b8\ub7fc\ud504\uc758 \ubc1c\uc5b8, \uc774\ub780\uc744 \ub458\ub7ec\uc2fc \uc9c0\uc815\ud559\uc801 \uae34\uc7a5 \uace0\uc870\uc5d0 \uc758\ud574 \ucd09\ubc1c\ub418\uc5c8\uc73c\uba70, \uc774\ub294 \ud2b9\ud788 \uc2e0\ud765\uad6d \uc790\uc0b0\uc5d0 \ub300\ud55c \uc555\ubc15\uc73c\ub85c \uc774\uc5b4\uc84c\ub2e4.
    \uc6d4\uac00\uc5d0\uc11c\ub294 \ubcf4\ub098\ub808\uc2a4(Bonares) \ucc44\uad8c\uc774 \ucd5c\ub300 +0.2% \uc0c1\uc2b9, \u20130.1% \ud558\ub77d\ud558\ub294 \ud63c\uc870\uc138\ub97c \ubcf4\uc778 \ubc18\uba74, \uae00\ub85c\ubc8c(Globales) \ucc44\uad8c\uc740 \uc804\ubc18\uc801\uc778 \ud558\ub77d\uc138, \ud2b9\ud788 2035\ub144 \ub9cc\uae30 \uae00\ub85c\ubc8c \ucc44\uad8c\uc774 \u20130.3%\ub85c \ub099\ud3ed\uc744 \uc8fc\ub3c4\ud588\ub2e4.
    \uc774\ub7ec\ud55c \ud658\uacbd\uc5d0\uc11c \uad6d\uac00\uc704\ud5d8\ub3c4\ub294 \uc57d 581bp \uc218\uc900\uc73c\ub85c \uc0c1\uc2b9\ud588\ub2e4.
    \ud55c\ud3b8, \uc544\ub974\ud5e8\ud2f0\ub098 \uae30\uc5c5 ADR\uc740 \ub300\ubd80\ubd84 \ud558\ub77d\ud558\uba70 \ucd5c\ub300 \u20133.4%\uae4c\uc9c0 \ubc00\ub838\ub2e4.
    <\/li>\n\n\n\n
  7. \ubbf8\uad6d \uc778\ud50c\ub808\uc774\uc158, \uc2dc\uc7a5 \uc608\uc0c1 \ubd80\ud569
    \ubbf8\uad6d\uc758 12\uc6d4 \uc778\ud50c\ub808\uc774\uc158\uc740 \uc2dc\uc7a5 \uc608\uc0c1\uc5d0 \ubd80\ud569\ud588\ub2e4.
    12\uc6d4 \uc18c\ube44\uc790\ubb3c\uac00\ub294 \uc804\uc6d4 \ub300\ube44 0.3% \uc0c1\uc2b9\ud558\uba70 \uc2dc\uc7a5 \uc608\uc0c1\uce58\uc640 \uc77c\uce58\ud588\ub2e4.
    \uc774\ub85c\uc368 2025\ub144 \uc5f0\uac04 \uc18c\ube44\uc790\ubb3c\uac00\uc9c0\uc218(IPC)\ub294 \uc804\ub144 \ub300\ube44 2.7% \uc0c1\uc2b9\uc73c\ub85c \ub9c8\uac10\ub410\ub2e4.
    \ub2e4\ub9cc, \uc2dd\ub8cc\ud488\uacfc \uc5d0\ub108\uc9c0\ub97c \uc81c\uc678\ud55c \uadfc\uc6d0 \uc778\ud50c\ub808\uc774\uc158\uc740 \uc804\uc6d4 \ub300\ube44 0.2% \uc0c1\uc2b9\uc5d0 \uadf8\uccd0,
    \uc608\uc0c1\uce58\uc600\ub358 0.3%\ub97c \ud558\ud68c\ud588\ub2e4.
    \uc5f0\uc728 \uae30\uc900\uc73c\ub85c \uadfc\uc6d0 \uc778\ud50c\ub808\uc774\uc158\uc740 2.6%\ub85c \ub454\ud654\ub418\uc5c8\uc73c\uba70, \uc774\ub294 \uc2dc\uc7a5 \uc608\uc0c1\uce58 2.7%\ubcf4\ub2e4 \ub0ae\uc740 \uc218\uce58\ub85c, \ubbf8\uad6d \uacbd\uc81c \ub0b4 \uc778\ud50c\ub808\uc774\uc158 \uc555\ub825\uc774 \uc810\uc9c4\uc801\uc73c\ub85c \uc644\ud654\ub418\uace0 \uc788\uc74c\uc744 \uc2dc\uc0ac\ud55c\ub2e4.<\/li>\n<\/ol>\n\n\n\n

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