{"id":14870,"date":"2026-09-14T15:12:52","date_gmt":"2026-09-14T18:12:52","guid":{"rendered":"https:\/\/hanin.org.ar\/?p=14870"},"modified":"2026-09-14T15:12:54","modified_gmt":"2026-09-14T18:12:54","slug":"%ec%98%a4%eb%8a%98%ec%9d%98-%ea%b2%bd%ec%a0%9c09%ec%9b%94-14%ec%9d%bc","status":"publish","type":"post","link":"https:\/\/hanin.org.ar\/?p=14870","title":{"rendered":"\uc624\ub298\uc758 \uacbd\uc81c(09\uc6d4 14\uc77c)"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

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

    \n
  1. \uacbd\uc81c\ubd80, \ub9cc\uae30 \uc804\uc561 \ucc28\ud658 \ucd94\uac00 \uc790\uae08 \ud655\ubcf4
    \uacbd\uc81c\ubd80\ub294 \ucd5c\uadfc \ud398\uc18c\ud654 \uad6d\ucc44 \uc785\ucc30\uc744 \ud1b5\ud574 8\uc870 4,100\uc5b5 \ud398\uc18c\uc758 \uc790\uae08\uc744 \uc870\ub2ec\ud588\ub2e4. \uc774\ub294 \uc774\ub0a0 \ub9cc\uae30\uac00 \ub3c4\ub798\ud55c 8\uc870 1,300\uc5b5 \ud398\uc18c\ub97c \uc6c3\ub3c4\ub294 \uaddc\ubaa8\ub2e4.
    \uc774\uc5d0 \ub530\ub77c \ucc28\ud658\uc728\uc740 103.46%\ub97c \uae30\ub85d\ud588\uc73c\uba70, \uc21c\uc870\ub2ec\uc561\uc740 2,810\uc5b5 \ud398\uc18c\uc5d0 \ub2ec\ud588\ub2e4.
    \uc2dc\uc7a5 \uc218\uc694\ub3c4 \ub192\uc558\ub2e4. \ucd1d \uc785\ucc30 \uc81c\uc548\uc561\uc740 14\uc870 1,700\uc5b5 \ud398\uc18c\uc5d0 \ub2ec\ud588\uc73c\uba70, \uacbd\uc81c\ud300\uc740 \uc774 \uac00\uc6b4\ub370 \uc57d 59%\ub97c \ubc1b\uc544\ub4e4\uc600\ub2e4.
    \ubc1c\ud589 \ubb3c\ub7c9\uc758 \ub300\ubd80\ubd84\uc740 11\uc6d4 \ub9cc\uae30 \uace0\uc815\uae08\ub9ac \ub2e8\uae30\uad6d\ucc44\uc778 LECAP\uc5d0 \uc9d1\uc911\ub410\ub2e4. LECAP \ubc30\uc815\uc561\uc740 4\uc870 700\uc5b5 \ud398\uc18c\uc600\uc73c\uba70, \uc6d4 \uc2e4\ud6a8\uae08\ub9ac\ub294 2.07%\uc600\ub2e4.
    \ub098\uba38\uc9c0 \uc790\uae08\uc740 \ubb3c\uac00\uc5f0\ub3d9\ud615(CER) \uad6d\ucc44, TAMAR(\uace0\uc561 \uc608\uae08) \uae08\ub9ac \uc5f0\ub3d9 \uc0c1\ud488, \uacf5\uc2dd \ub2ec\ub7ec \ud658\uc728\uc5d0 \uc5f0\ub3d9\ub418\ub294 \ub2ec\ub7ec \ub9c1\ud06c\ub4dc(d\u00f3lar linked) \ucc44\uad8c \ub4f1\uc744 \ud1b5\ud574 \uc870\ub2ec\ub410\ub2e4.
    \uc774\ub85c\uc368 \uc7ac\ubb34\uccad\uc740 \ub2f9\uc7a5\uc758 \ub9cc\uae30 \ucc44\ubb34\ub97c \uc804\uc561 \ucda9\ub2f9\ud558\uba74\uc11c \ucd94\uac00 \uc790\uae08\uae4c\uc9c0 \ud655\ubcf4\ud558\ub294 \ub370 \uc131\uacf5\ud588\ub2e4.
    \uc774\uc640\uad00\ub828 Wise Capital \ud22c\uc790\ud68c\uc0ac\ub294 Infobae\uc5d0 \uac8c\uc7ac\ub41c \ubd84\uc11d\uc5d0\uc11c \ub2e4\uc74c\uacfc \uac19\uc774 \ud3c9\uac00\ud588\ub2e4.
    \u201c\uacbd\uc81c \ub2f9\uad6d\uc740 \ub354 \ub098\uc740 \uc790\uae08\uc870\ub2ec \uc5ec\uac74\uc744 \uae30\ub2e4\ub9ac\uba74\uc11c \ub2ec\ub7ec\ud654 \ucc44\uad8c \ubc1c\ud589\uc744 \ubbf8\ub8e8\ub294 \uac83\uc744 \uc120\ud638\ud558\uace0 \uc788\ub2e4. \uad6d\uac00\uc704\ud5d8\uc9c0\uc218\uac00 \ud558\ub77d\ud558\uae30\ub294 \ud588\uc9c0\ub9cc, \uc2dc\uc7a5\uc740 \uc120\uac70\ub97c \uc55e\ub454 \uc0c1\ud669\uc5d0\uc11c \ud398\uc18c\ud654 \ucc44\uad8c\uc758 \ub9cc\uae30\ub97c \uc5b4\ub290 \uc815\ub3c4\uae4c\uc9c0 \uc5f0\uc7a5\ud560 \uc218 \uc788\uc744\uc9c0\ub97c \ud3c9\uac00\ud558\uae30 \uc2dc\uc791\ud588\ub2e4.\u201d<\/li>\n\n\n\n
  2. \ub3c4\ub9e4 \ub2ec\ub7ec \ud658\uc728 \ud558\ub77d
    9\uc6d4 \ub4e4\uc5b4 \uc678\ud658\uc2dc\uc7a5\uc740 \ube44\uad50\uc801 \uc548\uc815\ub41c \ubaa8\uc2b5\uc744 \ubcf4\uc774\uace0 \uc788\ub2e4.
    \ub3c4\ub9e4 \ub2ec\ub7ec \ud658\uc728\uc740 \uc774\ud2c0 \uc5f0\uc18d \ud558\ub77d\ud574 \ub2ec\ub7ec\ub2f9 1,508.50\ud398\uc18c\ub85c \ub9c8\uac10\ud588\ub2e4. \uc774\ub294 \ud658\uc728 \ubcc0\ub3d9\ubc34\ub4dc \uc0c1\ub2e8\ubcf4\ub2e4 25.6% \ub0ae\uc740 \uc218\uc900\uc774\ub2e4.
    \uc678\ud658 \uacf5\uae09 \uc99d\uac00\ub85c \uae08\uc694\uc77c \ud658\uc728\uc740 4.50\ud398\uc18c \ud558\ub77d\ud588\uc73c\uba70, \uc774\ub0a0 \uac70\ub798 \uaddc\ubaa8\ub294 8\uc5b5 3,500\ub9cc \ub2ec\ub7ec\ub97c \ub118\uc5b4\uc130\ub2e4.
    \uc815\ubd80\ub294 \uc774\ub7ec\ud55c \uc678\ud658\uc2dc\uc7a5 \uc548\uc815\uc744 \uc720\uc9c0\ud558\ub824 \ud558\uace0 \uc788\uc73c\uba70, \uc815\uce58\uad8c\uacfc \uc2dc\uc7a5\uc758 \uad00\uc2ec\uc740 \uc810\ucc28 2027\ub144\uc73c\ub85c \uc774\ub3d9\ud558\uae30 \uc2dc\uc791\ud588\ub2e4.
    8\uc6d4 \ubb3c\uac00\uc0c1\uc2b9\ub960\uc740 1.7%\ub97c \uae30\ub85d\ud588\ub2e4. \uc774 \uc218\uce58\ub294 10\uc6d4\ubd80\ud130 \uc801\uc6a9\ub420 \uacf5\uc2dd \ud658\uc728 \ubcc0\ub3d9\ubc34\ub4dc \ud55c\ub3c4\ub97c \uc870\uc815\ud558\ub294 \uae30\uc900\uc774 \ub41c\ub2e4.
    \uae08\ub9ac\ub3c4 \uc774\uc804\uc758 \ubcc0\ub3d9\uc131\uc5d0\uc11c \ubc97\uc5b4\ub098 \uade0\ud615\uc744 \ucc3e\uc544\uac00\ub294 \ubaa8\uc2b5\uc774\ub2e4.
    \uc2dc\uc7a5\uc740 \uc55e\uc73c\ub85c \ud658\uc728\uc774 \uc810\uc9c4\uc801\uc73c\ub85c \uc0c1\uc2b9\ud558\uaca0\uc9c0\ub9cc \uadf8 \uc18d\ub3c4\ub294 \uc644\ub9cc\ud560 \uac83\uc73c\ub85c \uc804\ub9dd\ud558\uace0 \uc788\ub2e4.
    \uc2dc\uc7a5\uae30\ub300\uc870\uc0ac(REM)\uc5d0 \ub530\ub974\uba74 \ub2ec\ub7ec \ud658\uc728\uc740 9\uc6d4 \uc57d 1,530\ud398\uc18c, 10\uc6d4 1,565\ud398\uc18c, 11\uc6d4 1,600\ud398\uc18c \uc218\uc900\uc73c\ub85c \uc608\uc0c1\ub41c\ub2e4.
    12\uc6d4 \uc804\ub9dd\uce58\ub294 1,630\ud398\uc18c\ub85c \ub0ae\uc544\uc84c\ub2e4. \uc774\ub294 \uc804\ub144 \ub3d9\uae30 \ub300\ube44 12.6% \uc0c1\uc2b9\ud55c \uc218\uc900\uc774\ub2e4.<\/li>\n\n\n\n
  3. \uc911\uc559\uc740\ud589 \uc678\ud654 \ub9e4\uc785 \uc18d\ub3c4 \ub454\ud654
    \uc911\uc559\uc740\ud589\uc740 \uc678\ud658\uc2dc\uc7a5\uc774 \uc548\uc815\ub418\ub294 \ubaa8\uc2b5\uc744 \ubcf4\uc600\uc9c0\ub9cc \uc678\ud658\ubcf4\uc720\uc561 \ud655\ucda9 \uce21\uba74\uc5d0\uc11c\ub294 \uc57d\ud55c \ubaa8\uc2b5\uc744 \ub098\ud0c0\ub0c8\ub2e4.
    \uc911\uc559\uc740\ud589\uc740 \uae08\uc694\uc77c \ub192\uc740 \uc678\ud658 \uac70\ub798\ub7c9\uc5d0\ub3c4 \ubd88\uad6c\ud558\uace0 \ubd88\uacfc 500\ub9cc \ub2ec\ub7ec\ub97c \uc21c\ub9e4\uc785\ud588\ub2e4.
    \ucd5c\uadfc 5\uac70\ub798\uc77c \ub3d9\uc548\uc758 \uc21c\ub9e4\uc785\uc561\uc740 \ucd1d 4,200\ub9cc \ub2ec\ub7ec\ub85c, \ud604\uc7ac\uc758 \uc678\ud658 \ub9e4\uc785\uc81c\ub3c4\uac00 \uc2dc\ud589\ub41c \uc774\ud6c4 \uac00\uc7a5 \ub0ae\uc740 \uc8fc\uac04 \ub9e4\uc785 \uaddc\ubaa8\ub97c \uae30\ub85d\ud588\ub2e4.
    9\uc6d4 \ub4e4\uc5b4 \ud604\uc7ac\uae4c\uc9c0 \uc21c\ub9e4\uc785\uc561\uc740 1\uc5b5 6,900\ub9cc \ub2ec\ub7ec\uc774\uba70, 2026\ub144 \ub204\uc801 \ub9e4\uc785\uc561\uc740 142\uc5b5 1,800\ub9cc \ub2ec\ub7ec\uc5d0 \uc774\ub978\ub2e4.
    \uadf8\ub7ec\ub098 \ucd5c\uadfc \uc218\uce58\ub294 \uc911\uc559\uc740\ud589\uc758 \uc678\ud654 \ub9e4\uc785 \uc18d\ub3c4\uac00 \ub69c\ub837\ud558\uac8c \ub454\ud654\ub418\uace0 \uc788\uc74c\uc744 \ubcf4\uc5ec\uc900\ub2e4.
    9\uc6d4 \ud558\ub8e8 \ud3c9\uade0 \ub9e4\uc785\uc561\uc740 1,400\ub9cc \ub2ec\ub7ec\ub85c \uac10\uc18c\ud588\ub2e4. \uc774\ub294 8\uc6d4 \ud558\ub8e8 \ud3c9\uade0 3,800\ub9cc \ub2ec\ub7ec\ubcf4\ub2e4 \ud06c\uac8c \ub0ae\uc740 \uc218\uc900\uc774\uba70, \ud558\ub8e8 \ud3c9\uade0 1\uc5b5 3,700\ub9cc \ub2ec\ub7ec\ub97c \ub9e4\uc785\ud588\ub358 5\uc6d4\uacfc \ube44\uad50\ud558\uba74 \ub354\uc6b1 \ud070 \ucc28\uc774\ub97c \ubcf4\uc778\ub2e4.<\/li>\n\n\n\n
  4. \ubbf8\uad6d \ubb3c\uac00 \ubc1c\ud45c \uc5ec\ud30c\ub85c \uba54\ub974\ubc1c \uc9c0\uc218 \ud558\ub77d
    \ubbf8\uad6d\uc758 8\uc6d4 \uadfc\uc6d0\ubb3c\uac00\ub294 0.3% \uc0c1\uc2b9\ud574 \uc2dc\uc7a5 \uc608\uc0c1\uce58\ub97c \uc6c3\ub3cc\uc558\ub2e4.
    \uc774\uc5d0 \ub530\ub77c \ubbf8\uad6d \uc5f0\ubc29\uc900\ube44\uc81c\ub3c4(Fed)\uac00 \uae34\ucd95\uc801\uc778 \ud1b5\ud654\uc815\ucc45 \uae30\uc870\ub97c \uc720\uc9c0\ud560 \uac83\uc774\ub77c\ub294 \uc804\ub9dd\uc774 \uac15\ud654\ub410\ub2e4.
    \uc120\ubb3c\uc2dc\uc7a5\uc740 \uc5f0\uc900\uc774 \ub2e4\uc74c \uc8fc \uae30\uc900\uae08\ub9ac\ub97c 0.25%\ud3ec\uc778\ud2b8 \uc778\uc0c1\ud560 \uac00\ub2a5\uc131\uc744 \uc57d 90%\ub85c \ubc18\uc601\ud558\uace0 \uc788\ub2e4. \ud22c\uc790\uc790\ub4e4\uc740 \ucf00\ube48 \uc6cc\uc2dc \uc5f0\uc900 \uc758\uc7a5\uc758 \uba54\uc2dc\uc9c0\uc5d0\ub3c4 \uc8fc\ubaa9\ud558\uace0 \uc788\ub2e4.
    \uc774 \uac19\uc740 \ub300\uc678 \uc5ec\uac74\uc740 \uc544\ub974\ud5e8\ud2f0\ub098 \uae08\uc735\uc2dc\uc7a5\uc5d0\ub3c4 \uc601\ud5a5\uc744 \ubbf8\ucce4\ub2e4.
    S&P \uba54\ub974\ubc1c \uc9c0\uc218\ub294 1.87% \ud558\ub77d\ud588\uc73c\uba70, \ub274\uc695 \uc99d\uc2dc\uc5d0 \uc0c1\uc7a5\ub41c \uc544\ub974\ud5e8\ud2f0\ub098 \uae30\uc5c5\ub4e4\uc758 \uc8fc\uc2dd\ub3c4 \uc57d\uc138\ub97c \ubcf4\uc600\ub2e4.
    \ube0c\ub80c\ud2b8\uc720 \uac00\uaca9\uc774 \ubc30\ub7f4\ub2f9 104.78\ub2ec\ub7ec\uae4c\uc9c0 \uae09\ub77d\ud558\uba74\uc11c \uc5d0\ub108\uc9c0 \uad00\ub828 \uc8fc\uc2dd\ub3c4 \ud0c0\uaca9\uc744 \ubc1b\uc558\ub2e4.
    \ubc18\uba74 \uc544\ub974\ud5e8\ud2f0\ub098 \uad6d\uac00\uc704\ud5d8\uc9c0\uc218\ub294 485\ud3ec\uc778\ud2b8\ub85c \ud558\ub77d\ud588\uace0, \ub2e8\uae30 \uae00\ub85c\ubc8c \uad6d\ucc44 \uac00\uaca9\uc740 \uc0c1\uc2b9\ud588\ub2e4.
    \uad6d\ub0b4\uc2dc\uc7a5\uc5d0\uc11c\ub294 \ub2e8\uae30 \ud398\uc18c\ud654 \uc790\uc0b0\uc5d0 \ub300\ud55c \uc218\uc694\uac00 \uc99d\uac00\ud558\uba74\uc11c LECAP\uacfc \ubb3c\uac00\uc5f0\ub3d9\ud615 \uad6d\ucc44\uac00 \uac15\uc138\ub97c \ubcf4\uc600\ub2e4.<\/li>\n\n\n\n
  5. AI \uad00\ub828\uc8fc \uae09\ub77d, \uc911\ub3d9 \uae34\uc7a5 \uad6d\uc81c\uc720\uac00\ub294 \uc0c1\uc2b9
    \uc6d4\uc694\uc77c \uc138\uacc4 \uc99d\uc2dc\ub294 \uc778\uacf5\uc9c0\ub2a5(AI) \uad00\ub828 \uae30\uc220\uc8fc\uac00 \uae09\ub77d\ud558\uba74\uc11c \uc804\ubc18\uc801\uc778 \uc57d\uc138\ub97c \ubcf4\uc774\uace0 \uc788\ub2e4.
    OpenAI\uc640 Anthropic\uc758 \uc9c0\ub3c4\ubd80\uac00 \uc138\uacc4\uc801\uc778 \uc704\ud5d8\uc744 \uad00\ub9ac\ud558\uae30 \uc704\ud574 AI \uac1c\ubc1c \uc18d\ub3c4\ub97c \ub2a6\ucd9c \ud544\uc694\uac00 \uc788\ub2e4\uace0 \uc694\uad6c\ud55c \uc774\ud6c4 \uad00\ub828 \uae30\uc220\uc8fc\uac00 \ud558\ub77d\ud588\ub2e4.
    \uc5ec\uae30\uc5d0 \uc0ac\uc6b0\ub514\uc544\ub77c\ube44\uc544 \uc1a1\uc720\uad00\uacfc \uac78\ud504 \ud574\uc5ed\uc758 \uc120\ubc15\uc5d0 \ub300\ud55c \uacf5\uaca9, \ud638\ub974\ubb34\uc988 \ud574\ud611 \ubb38\uc81c\ub97c \ub17c\uc758\ud558\uae30 \uc704\ud574 \uc624\ub9cc\uc5d0\uc11c \uc5f4\ub9b4 \uc608\uc815\uc774\uc5c8\ub358 \uc678\uad50 \ud68c\ub2f4\uc758 \uc5f0\uae30 \ub4f1\uc73c\ub85c \uc911\ub3d9 \uc9c0\uc5ed\uc758 \uae34\uc7a5\uc774 \uace0\uc870\ub410\ub2e4.
    \uc774 \uac19\uc740 \ubd88\uc548\uc73c\ub85c \ube0c\ub80c\ud2b8\uc720 \uac00\uaca9\uc740 3.4% \uc0c1\uc2b9\ud574 \ubc30\ub7f4\ub2f9 108.25\ub2ec\ub7ec\ub97c \uae30\ub85d\ud588\uace0, \ubbf8\uad6d\uc0b0 \uc6d0\uc720 \uac00\uaca9\ub3c4 103.11\ub2ec\ub7ec\uae4c\uc9c0 \uc62c\ub790\ub2e4.
    \ub274\uc695 \uc120\ubb3c\uc2dc\uc7a5\uc5d0\uc11c\ub294 S&P 500 \uc120\ubb3c\uc774 0.58% \ud558\ub77d\ud588\uace0, \ub098\uc2a4\ub2e5\uc740 1.51%, \ub2e4\uc6b0\uc874\uc2a4\ub294 0.26% \ud558\ub77d\ud588\ub2e4.
    \ud22c\uc790\uc790\ub4e4\uc740 \uc2dc\uc7a5 \uc804\ub9dd\uc744 \uc6c3\ub3c8 \ubbf8\uad6d\uc758 8\uc6d4 \ubb3c\uac00 \uc9c0\ud45c\uc5d0\ub3c4 \uc8fc\ubaa9\ud558\uace0 \uc788\ub2e4.
    \uc2dc\uc7a5\uc5d0\uc11c\ub294 \uc5f0\uc900\uc774 \uc774\ubc88 \uc218\uc694\uc77c \uae30\uc900\uae08\ub9ac\ub97c \uc778\uc0c1\ud560 \uac00\ub2a5\uc131\uc744 \uc57d 90%\ub85c \ubcf4\uace0 \uc788\ub2e4. \ud604\uc2e4\ud654\ub420 \uacbd\uc6b0 2023\ub144 \uc911\ubc18 \uc774\ud6c4 \uccab \uae08\ub9ac \uc778\uc0c1\uc774 \ub41c\ub2e4.
    \uad6d\uc81c\uc801\uc778 \uae34\ucd95 \ubd84\uc704\uae30\ub294 \uc720\ub7fd\uc911\uc559\uc740\ud589(ECB)\uc774 \uc9c0\ub09c\uc8fc \ud1b5\ud654\uc815\ucc45\uc744 \uac15\ud654\ud55c \ub370 \uc774\uc5b4, \uc77c\ubcf8\uc740\ud589(BOJ)\uc774 \uc5d4\ud654 \uac00\uce58\ub97c \uc9c0\uc9c0\ud558\uae30 \uc704\ud574 \uc774\ubc88 \uae08\uc694\uc77c \uae30\uc900\uae08\ub9ac\ub97c 1.25%\ub85c \uc778\uc0c1\ud560 \uac83\uc774\ub77c\ub294 \uc804\ub9dd\uae4c\uc9c0 \ub354\ud574\uc9c0\uba74\uc11c \ub354\uc6b1 \uac15\ud574\uc9c0\uace0 \uc788\ub2e4.<\/li>\n<\/ol>\n","protected":false},"excerpt":{"rendered":"

    \uc624\ub298\uc758 \uacbd\uc81c<\/p>\n","protected":false},"author":6,"featured_media":14872,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_joinchat":[],"footnotes":""},"categories":[23,25,61],"tags":[],"class_list":["post-14870","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-noticias-argentina","category-informes-economicos"],"_links":{"self":[{"href":"https:\/\/hanin.org.ar\/index.php?rest_route=\/wp\/v2\/posts\/14870","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hanin.org.ar\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hanin.org.ar\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hanin.org.ar\/index.php?rest_route=\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/hanin.org.ar\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=14870"}],"version-history":[{"count":0,"href":"https:\/\/hanin.org.ar\/index.php?rest_route=\/wp\/v2\/posts\/14870\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/hanin.org.ar\/index.php?rest_route=\/wp\/v2\/media\/14872"}],"wp:attachment":[{"href":"https:\/\/hanin.org.ar\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=14870"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hanin.org.ar\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=14870"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hanin.org.ar\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=14870"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}