EC (ECB) رݸ λ ǻ ‘Ӵ’ (ڱ) ô 밡.
2Ⱓ ִ 11ȸ λ ຸ
1516 ģ ģ ģ 0.000.25% ݸ 0.250.50% 0.25% ٰ ٰ ٰ. 2020 3 2Ⱓ ݸ å ̴ ̴.
U ǥ(dot plot) رݸ 1.9%, 2.8% ߴ.
رݸ ġ ѵ ǥ̴.
Rݸ 1.9% ȴ ٴ 6 FOMC ȸ Ź 0.25% Ʈ lѴ ٴ ǹѴ.
̴ 7ȸ, Ʈ Ʈ (ȭ ȣ) 忡 Sh.
رݸ 2.8% ݸ λ 34ȸ – Ѵ.
2Ⱓ 1011ȸ λѴٴ , ̱ ٴ ǹѴ.
20 ſ ſ, ̷ ó 2008 ݸ 2015 122016 12 ñ ⺸ ̴. 3 9 λ ߴ.
Ρ ̼ ؼ ϱ 2004 62006 6 2Ⱓ 17 λ ¸Δ ̶ ִ.
⁇ ⸦ Ø Ø ֽ θ
ȸ Ʈ ̾ ũ ڳ̽ ڳ̽ Ʈ “÷ ̼ǰ ￡” “ʳ ݸ λ ÷ ̼ ߷ ߷ Ѵ” ߴ.
ġ 뼭 ݸ λ ƴϳĴ ִ.
3.5 Ǿ ġ ġ 3.5% ߴ. رݸ øµ 忣 ū ȭ ̶ ̴.
2020 Ǿ ڷ γ19 hü 2020 4 14.7% ߴ ٰ ۳ 12 3.9% 4% ̸ ̱ 뵿 ” ƴϳĴ ̾߱ Ⱑ Դ. 3.5% Ǿ̴.
ߴ Ƽ Ƽ Ʈ Ʈ “Ǿ ̵, ̼ ̼ ؾ” ߴ ߴ.
ֳθƽ ֱ ְ Ȳ ȮǼ Ŀ ǥ ٰ .
20132014 ݸ .
ݸ λ ̾ ϴ ݸ ̹ ϸ 鼭 ‘Ӵ’ ô ִ.
, İ, JPü̽, ũƸ ī ֿ رݸ ø Ⱑ ݸ 0.25% Ʈ λ ߴ.
ECB, äǸ λ û
ֱ ECB ķ ‘¦ ‘ߴ.
ECB 10 ȭå ȸ ڻ α (APP) ä ñ⸦ 3б մ ߴ.
10 AAP .
ECB ƿ AAP ä ‘????'(some time) ִٰ رݸ øڴٰ 忡 ECB λ ǻ Ƶ̰ ִ.
ECB رݸ λ ̶ Ǯ ؿٰ رݸ λ ɼ ‘ſ’ (highly unlikely) ν λ ɼ ״.
嵵硡̿ Offset. ECB ȭå ȸ ǥ ECB ر Offset 0.5%Ʈ λ Offset.
Ư 游 λ ȹ ECB ̿ ̶ 〿 Ŀ.
ECB ߾ Ŭ ũƮ ״ ߾ 17 “μ 4β λ” 鼭 ÷ ̼ ġ ٽ ٸ λ ٰ ߴ.
B ???? ECB ݸ λ 븦 ϴ ̴.
״ 17 ä 䴴ϰ ȭå ȭ ٰ踦’ ð'(extra space) ̶ 䴴.
‘some time’̶ ̶ ǥ ϸ λ ǹ̷ ȴ ȴ.
̿ ռ ???? “ȭå ” ̶ ϸ رݸ λ Ȯ ִ.
رݸ 0% ǥϴ ???? ECB ⸦ Ø Ø ֽ θ
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s m.
