{"id":55778,"date":"2025-06-26T09:37:40","date_gmt":"2025-06-26T01:37:40","guid":{"rendered":"http:\/\/test.swqi.tw\/?p=55778"},"modified":"2025-12-03T03:42:39","modified_gmt":"2025-12-02T19:42:39","slug":"forex-monetary-policy-hawkish-dovish","status":"publish","type":"post","link":"https:\/\/mister.forex\/vi\/forex-monetary-policy-hawkish-dovish\/","title":{"rendered":"Nh\u1eadp m\u00f4n ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 ngo\u1ea1i h\u1ed1i:&nbsp;Ng\u01b0\u1eddi m\u1edbi b\u1eaft \u0111\u1ea7u hi\u1ec3u v\u1ec1 \"Di\u1ec1u h\u00e2u\" v\u00e0 \"B\u1ed3 c\u00e2u\" c\u1ee7a ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng"},"content":{"rendered":"<div data-elementor-type=\"wp-post\" data-elementor-id=\"55778\" class=\"elementor elementor-55778\" data-elementor-post-type=\"post\">\n\t\t\t\t<div class=\"elementor-element elementor-element-a13e72c e-flex e-con-boxed e-con e-parent\" data-id=\"a13e72c\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-7169241 elementor-widget elementor-widget-html translation-block\" data-id=\"7169241\" data-element_type=\"widget\" data-widget_type=\"html.default\"><div style=\"16px\"><span>\n<h2><strong>C\u01a1 b\u1ea3n v\u1ec1 ngo\u1ea1i h\u1ed1i:&nbsp;Hi\u1ec3u \u0111\u01b0\u1ee3c \u201cCh\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7\u201d c\u1ee7a Ng\u00e2n h\u00e0ng Trung \u01b0\u01a1ng<\/strong>&nbsp;<\/h2>\n\nCh\u00fang ta bi\u1ebft Ng\u00e2n h\u00e0ng Trung \u01b0\u01a1ng l\u00e0 \u201cng\u01b0\u1eddi l\u00e1i \u0111\u00f2\u201d c\u1ee7a th\u1ecb tr\u01b0\u1eddng ngo\u1ea1i h\u1ed1i, h\u1ecd s\u1eed d\u1ee5ng c\u00e1c c\u00f4ng c\u1ee5 nh\u01b0 \u0111i\u1ec1u ch\u1ec9nh l\u00e3i su\u1ea5t \u0111\u1ec3 c\u1ed1 g\u1eafng d\u1eabn d\u1eaft con thuy\u1ec1n kinh t\u1ebf \u0111i m\u1ed9t c\u00e1ch \u1ed5n \u0111\u1ecbnh.<br>\nC\u00e1c h\u00e0nh \u0111\u1ed9ng v\u00e0 chi\u1ebfn l\u01b0\u1ee3c t\u1ed5ng th\u1ec3 m\u00e0 Ng\u00e2n h\u00e0ng Trung \u01b0\u01a1ng th\u1ef1c hi\u1ec7n trong c\u00e1c giai \u0111o\u1ea1n kh\u00e1c nhau ch\u00ednh l\u00e0 c\u00e1i g\u1ecdi l\u00e0 \u201cCh\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7\u201d.<br>\nT\u00f4ng gi\u1ecdng c\u1ee7a ch\u00ednh s\u00e1ch n\u00e0y l\u00e0 nghi\u00eang v\u1ec1 vi\u1ec7c \u201cphanh\u201d hay \u201cga\u201d cho n\u1ec1n kinh t\u1ebf, s\u1ebd \u1ea3nh h\u01b0\u1edfng tr\u1ef1c ti\u1ebfp \u0111\u1ebfn m\u1ee9c l\u00e3i su\u1ea5t, t\u1eeb \u0111\u00f3 t\u00e1c \u0111\u1ed9ng s\u00e2u r\u1ed9ng \u0111\u1ebfn t\u1ef7 gi\u00e1 h\u1ed1i \u0111o\u00e1i.<br><br>\nCh\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 nghe c\u00f3 v\u1ebb h\u1ecdc thu\u1eadt, nh\u01b0ng th\u1ef1c t\u1ebf l\u00e0 m\u1ed9t trong nh\u1eefng ch\u00eca kh\u00f3a quan tr\u1ecdng \u0111\u1ec3 hi\u1ec3u xu h\u01b0\u1edbng l\u1edbn c\u1ee7a th\u1ecb tr\u01b0\u1eddng ngo\u1ea1i h\u1ed1i.<br>\nHi\u1ec3u r\u00f5 Ng\u00e2n h\u00e0ng Trung \u01b0\u01a1ng c\u1ee7a c\u00e1c qu\u1ed1c gia l\u1edbn hi\u1ec7n \u0111ang nghi\u00eang v\u1ec1 \u201cth\u1eaft ch\u1eb7t\u201d hay \u201cn\u1edbi l\u1ecfng\u201d ngu\u1ed3n ti\u1ec1n s\u1ebd gi\u00fap b\u1ea1n hi\u1ec3u r\u00f5 h\u01a1n v\u1ec1 \u0111\u1ed9ng th\u00e1i th\u1ecb tr\u01b0\u1eddng v\u00e0 xu h\u01b0\u1edbng ti\u1ec1m n\u0103ng.<br>\nB\u00e0i vi\u1ebft n\u00e0y s\u1ebd gi\u1ea3i th\u00edch \u0111\u01a1n gi\u1ea3n cho b\u1ea1n ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 l\u00e0 g\u00ec, hai tr\u1ea1ng th\u00e1i ch\u00ednh c\u1ee7a n\u00f3 (th\u1eaft ch\u1eb7t v\u00e0 n\u1edbi l\u1ecfng) c\u00f3 \u00fd ngh\u0129a nh\u01b0 th\u1ebf n\u00e0o, v\u00e0 ch\u00fang \u1ea3nh h\u01b0\u1edfng ra sao \u0111\u1ebfn th\u1ecb tr\u01b0\u1eddng ngo\u1ea1i h\u1ed1i.<br><br>\n\n<h3><strong>1. Ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 l\u00e0 g\u00ec? \u201cPh\u01b0\u01a1ng ch\u00e2m \u0111i\u1ec1u ti\u1ebft\u201d c\u1ee7a Ng\u00e2n h\u00e0ng Trung \u01b0\u01a1ng<\/strong>&nbsp;<\/h3>\nCh\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 c\u00f3 th\u1ec3 hi\u1ec3u l\u00e0 m\u1ed9t lo\u1ea1t c\u00e1c bi\u1ec7n ph\u00e1p v\u00e0 chi\u1ebfn l\u01b0\u1ee3c m\u00e0 Ng\u00e2n h\u00e0ng Trung \u01b0\u01a1ng c\u1ee7a m\u1ed9t qu\u1ed1c gia \u00e1p d\u1ee5ng \u0111\u1ec3 qu\u1ea3n l\u00fd l\u01b0\u1ee3ng ti\u1ec1n trong n\u01b0\u1edbc (s\u1ed1 ti\u1ec1n l\u01b0u th\u00f4ng tr\u00ean th\u1ecb tr\u01b0\u1eddng) v\u00e0 t\u00ecnh tr\u1ea1ng t\u00edn d\u1ee5ng (m\u1ee9c \u0111\u1ed9 d\u1ec5 d\u00e0ng v\u00e0 chi ph\u00ed vay m\u01b0\u1ee3n), nh\u1eb1m \u0111\u1ea1t \u0111\u01b0\u1ee3c c\u00e1c m\u1ee5c ti\u00eau kinh t\u1ebf v\u0129 m\u00f4 nh\u01b0 \u1ed5n \u0111\u1ecbnh gi\u00e1 c\u1ea3 v\u00e0 th\u00fac \u0111\u1ea9y vi\u1ec7c l\u00e0m\/ t\u0103ng tr\u01b0\u1edfng kinh t\u1ebf.<br><br>\nN\u00f3i \u0111\u01a1n gi\u1ea3n, \u0111\u00f3 l\u00e0 c\u00e1ch Ng\u00e2n h\u00e0ng Trung \u01b0\u01a1ng \u0111i\u1ec1u ch\u1ec9nh \u201cc\u00e1nh c\u1ed5ng\u201d t\u1ed5ng th\u1ec3 v\u00e0 d\u00f2ng ch\u1ea3y c\u1ee7a \u201cti\u1ec1n\u201d trong to\u00e0n qu\u1ed1c.<br><br>\n\n<h3><strong>2. C\u00e1c c\u00f4ng c\u1ee5 ch\u00ednh c\u1ee7a ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 (\u00d4n t\u1eadp nhanh)<\/strong>&nbsp;<\/h3>\nNg\u00e2n h\u00e0ng Trung \u01b0\u01a1ng c\u00f3 nhi\u1ec1u c\u00f4ng c\u1ee5 \u0111\u1ec3 th\u1ef1c thi ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7, ch\u00fang ta \u0111\u00e3 t\u1eebng \u0111\u1ec1 c\u1eadp tr\u1ecdng t\u00e2m:&nbsp;<br><br>\n<ul>\n <li><strong>L\u00e3i su\u1ea5t c\u01a1 b\u1ea3n (Benchmark Interest Rate):<\/strong>&nbsp;\u0110\u00e2y l\u00e0 c\u00f4ng c\u1ee5 ph\u1ed5 bi\u1ebfn nh\u1ea5t v\u00e0 c\u00f3 \u1ea3nh h\u01b0\u1edfng tr\u1ef1c ti\u1ebfp nh\u1ea5t. B\u1eb1ng c\u00e1ch \u0111i\u1ec1u ch\u1ec9nh l\u00e3i su\u1ea5t n\u00e0y, Ng\u00e2n h\u00e0ng Trung \u01b0\u01a1ng c\u00f3 th\u1ec3 \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn chi ph\u00ed vay m\u01b0\u1ee3n trong to\u00e0n b\u1ed9 n\u1ec1n kinh t\u1ebf.<\/li>\n <li><strong>C\u00e1c c\u00f4ng c\u1ee5 kh\u00e1c:<\/strong>&nbsp;\n <ul>\n <li><strong>T\u1ef7 l\u1ec7 d\u1ef1 tr\u1eef b\u1eaft bu\u1ed9c (Reserve Requirements):<\/strong>&nbsp;Quy \u0111\u1ecbnh t\u1ef7 l\u1ec7 ph\u1ea7n tr\u0103m ti\u1ec1n g\u1eedi m\u00e0 c\u00e1c ng\u00e2n h\u00e0ng th\u01b0\u01a1ng m\u1ea1i ph\u1ea3i gi\u1eef l\u00e0m d\u1ef1 tr\u1eef, kh\u00f4ng \u0111\u01b0\u1ee3c d\u00f9ng \u0111\u1ec3 cho vay. \u0110i\u1ec1u ch\u1ec9nh t\u1ef7 l\u1ec7 n\u00e0y \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn kh\u1ea3 n\u0103ng cho vay c\u1ee7a ng\u00e2n h\u00e0ng.<\/li>\n <li><strong>Ho\u1ea1t \u0111\u1ed9ng th\u1ecb tr\u01b0\u1eddng m\u1edf (Open Market Operations):<\/strong>&nbsp;Ng\u00e2n h\u00e0ng Trung \u01b0\u01a1ng mua b\u00e1n tr\u00e1i phi\u1ebfu ch\u00ednh ph\u1ee7 v\u00e0 c\u00e1c ch\u1ee9ng kho\u00e1n kh\u00e1c tr\u00ean th\u1ecb tr\u01b0\u1eddng \u0111\u1ec3 b\u01a1m ho\u1eb7c h\u00fat ti\u1ec1n ra kh\u1ecfi th\u1ecb tr\u01b0\u1eddng. G\u1ea7n \u0111\u00e2y, m\u1ecdi ng\u01b0\u1eddi th\u01b0\u1eddng nghe \u0111\u1ebfn \u201cN\u1edbi l\u1ecfng \u0111\u1ecbnh l\u01b0\u1ee3ng (QE) \u201d l\u00e0 mua t\u00e0i s\u1ea3n quy m\u00f4 l\u1edbn, c\u00f2n \u201cTh\u1eaft ch\u1eb7t \u0111\u1ecbnh l\u01b0\u1ee3ng (QT) \u201d l\u00e0 thao t\u00e1c ng\u01b0\u1ee3c l\u1ea1i.<\/li>\n <\/ul>\n <\/li>\n<\/ul>\n<br>\nM\u1ee5c \u0111\u00edch chung c\u1ee7a c\u00e1c c\u00f4ng c\u1ee5 n\u00e0y l\u00e0 l\u00e0m cho v\u1ed1n v\u00e0 t\u00edn d\u1ee5ng tr\u00ean th\u1ecb tr\u01b0\u1eddng tr\u1edf n\u00ean \u0111\u1eaft \u0111\u1ecf v\u00e0 kh\u00f3 ti\u1ebfp c\u1eadn h\u01a1n (th\u1eaft ch\u1eb7t), ho\u1eb7c r\u1ebb h\u01a1n v\u00e0 d\u1ec5 ti\u1ebfp c\u1eadn h\u01a1n (n\u1edbi l\u1ecfng).<br><br>\n\n<h3><strong>3. Hai tr\u1ea1ng th\u00e1i ch\u00ednh c\u1ee7a ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7:&nbsp;Th\u1eaft ch\u1eb7t vs. N\u1edbi l\u1ecfng<\/strong>&nbsp;<\/h3>\nT\u00f9y theo m\u1ee5c ti\u00eau c\u1ee7a Ng\u00e2n h\u00e0ng Trung \u01b0\u01a1ng (ki\u1ec1m ch\u1ebf l\u1ea1m ph\u00e1t hay k\u00edch th\u00edch t\u0103ng tr\u01b0\u1edfng), ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 th\u01b0\u1eddng \u0111\u01b0\u1ee3c chia th\u00e0nh hai t\u00f4ng gi\u1ecdng ho\u1eb7c tr\u1ea1ng th\u00e1i ch\u00ednh:&nbsp;<br><br>\n<ul>\n <li><strong>Ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 th\u1eaft ch\u1eb7t (Contractionary \/ Tightening Monetary Policy):<\/strong>&nbsp;\n <ul>\n <li><strong>M\u1ee5c ti\u00eau:<\/strong>&nbsp;Th\u01b0\u1eddng \u00e1p d\u1ee5ng khi kinh t\u1ebf t\u0103ng tr\u01b0\u1edfng qu\u00e1 nhanh, \u00e1p l\u1ef1c l\u1ea1m ph\u00e1t cao. M\u1ee5c \u0111\u00edch l\u00e0 l\u00e0m ngu\u1ed9i n\u1ec1n kinh t\u1ebf, ki\u1ec3m so\u00e1t gi\u00e1 c\u1ea3 t\u0103ng. Ng\u00e2n h\u00e0ng Trung \u01b0\u01a1ng gi\u1eef quan \u0111i\u1ec3m n\u00e0y \u0111\u01b0\u1ee3c g\u1ecdi l\u00e0 \u201cdi\u1ec1u h\u00e2u\u201d (Hawkish).<\/li>\n <li><strong>C\u00f4ng c\u1ee5 th\u01b0\u1eddng d\u00f9ng:<\/strong>&nbsp;T\u0103ng l\u00e3i su\u1ea5t c\u01a1 b\u1ea3n l\u00e0 c\u00f4ng c\u1ee5 ch\u00ednh. C\u00f3 th\u1ec3 k\u1ebft h\u1ee3p b\u00e1n t\u00e0i s\u1ea3n (QT) ho\u1eb7c t\u0103ng t\u1ef7 l\u1ec7 d\u1ef1 tr\u1eef b\u1eaft bu\u1ed9c.<\/li>\n <li><strong>D\u1ef1 ki\u1ebfn t\u00e1c \u0111\u1ed9ng \u0111\u1ebfn kinh t\u1ebf:<\/strong>&nbsp;T\u0103ng chi ph\u00ed vay m\u01b0\u1ee3n, k\u00ecm h\u00e3m \u0111\u1ea7u t\u01b0 v\u00e0 ti\u00eau d\u00f9ng, c\u00f3 th\u1ec3 l\u00e0m ch\u1eadm t\u1ed1c \u0111\u1ed9 t\u0103ng tr\u01b0\u1edfng kinh t\u1ebf, gi\u00fap gi\u1ea3m l\u1ea1m ph\u00e1t.<\/li>\n <li><strong>D\u1ef1 ki\u1ebfn t\u00e1c \u0111\u1ed9ng \u0111\u1ebfn t\u1ef7 gi\u00e1:<\/strong>&nbsp;Th\u00f4ng th\u01b0\u1eddng t\u00edch c\u1ef1c (t\u0103ng gi\u00e1) \u0111\u1ed3ng n\u1ed9i t\u1ec7. V\u00ec l\u00e3i su\u1ea5t cao h\u01a1n thu h\u00fat v\u1ed1n n\u01b0\u1edbc ngo\u00e0i t\u00ecm ki\u1ebfm l\u1ee3i su\u1ea5t cao h\u01a1n, t\u0103ng nhu c\u1ea7u \u0111\u1ed3ng n\u1ed9i t\u1ec7.<\/li>\n <\/ul>\n <\/li>\n <li><strong>Ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 m\u1edf r\u1ed9ng \/ n\u1edbi l\u1ecfng (Expansionary \/ Easing Monetary Policy):<\/strong>&nbsp;\n <ul>\n <li><strong>M\u1ee5c ti\u00eau:<\/strong>&nbsp;Th\u01b0\u1eddng \u00e1p d\u1ee5ng khi kinh t\u1ebf t\u0103ng tr\u01b0\u1edfng y\u1ebfu, \u0111\u1ed1i m\u1eb7t r\u1ee7i ro suy tho\u00e1i, ho\u1eb7c l\u1ea1m ph\u00e1t th\u1ea5p ho\u1eb7c c\u00f3 nguy c\u01a1 gi\u1ea3m ph\u00e1t. M\u1ee5c \u0111\u00edch l\u00e0 k\u00edch th\u00edch ho\u1ea1t \u0111\u1ed9ng kinh t\u1ebf, khuy\u1ebfn kh\u00edch vay m\u01b0\u1ee3n v\u00e0 chi ti\u00eau. Ng\u00e2n h\u00e0ng Trung \u01b0\u01a1ng gi\u1eef quan \u0111i\u1ec3m n\u00e0y \u0111\u01b0\u1ee3c g\u1ecdi l\u00e0 \u201cb\u1ed3 c\u00e2u\u201d (Dovish).<\/li>\n <li><strong>C\u00f4ng c\u1ee5 th\u01b0\u1eddng d\u00f9ng:<\/strong>&nbsp;Gi\u1ea3m l\u00e3i su\u1ea5t c\u01a1 b\u1ea3n l\u00e0 c\u00f4ng c\u1ee5 ch\u00ednh. C\u00f3 th\u1ec3 k\u1ebft h\u1ee3p mua t\u00e0i s\u1ea3n (QE) ho\u1eb7c gi\u1ea3m t\u1ef7 l\u1ec7 d\u1ef1 tr\u1eef b\u1eaft bu\u1ed9c.<\/li>\n <li><strong>D\u1ef1 ki\u1ebfn t\u00e1c \u0111\u1ed9ng \u0111\u1ebfn kinh t\u1ebf:<\/strong>&nbsp;Gi\u1ea3m chi ph\u00ed vay m\u01b0\u1ee3n, k\u00edch th\u00edch \u0111\u1ea7u t\u01b0 v\u00e0 ti\u00eau d\u00f9ng, c\u00f3 th\u1ec3 th\u00fac \u0111\u1ea9y t\u0103ng tr\u01b0\u1edfng kinh t\u1ebf v\u00e0 vi\u1ec7c l\u00e0m, nh\u01b0ng c\u0169ng c\u00f3 th\u1ec3 \u0111\u1ea9y l\u1ea1m ph\u00e1t l\u00ean cao.<\/li>\n <li><strong>D\u1ef1 ki\u1ebfn t\u00e1c \u0111\u1ed9ng \u0111\u1ebfn t\u1ef7 gi\u00e1:<\/strong>&nbsp;Th\u00f4ng th\u01b0\u1eddng ti\u00eau c\u1ef1c (gi\u1ea3m gi\u00e1) \u0111\u1ed3ng n\u1ed9i t\u1ec7. V\u00ec l\u00e3i su\u1ea5t th\u1ea5p l\u00e0m gi\u1ea3m s\u1ee9c h\u1ea5p d\u1eabn c\u1ee7a t\u00e0i s\u1ea3n n\u1ed9i t\u1ec7, c\u00f3 th\u1ec3 d\u1eabn \u0111\u1ebfn d\u00f2ng v\u1ed1n ch\u1ea3y ra ngo\u00e0i.<\/li>\n <\/ul>\n <\/li>\n<\/ul>\n<br>\n\n<h3><strong>4. L\u00e0m th\u1ebf n\u00e0o \u0111\u1ec3 x\u00e1c \u0111\u1ecbnh ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 hi\u1ec7n t\u1ea1i l\u00e0 th\u1eaft ch\u1eb7t hay n\u1edbi l\u1ecfng?<\/strong>&nbsp;<\/h3>\n\u0110\u1ec3 hi\u1ec3u t\u00f4ng gi\u1ecdng ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 hi\u1ec7n t\u1ea1i c\u1ee7a m\u1ed9t Ng\u00e2n h\u00e0ng Trung \u01b0\u01a1ng, b\u1ea1n c\u1ea7n ch\u00fa \u00fd:&nbsp;<br><br>\n<ul>\n <li><strong>Tuy\u00ean b\u1ed1 ch\u00ednh th\u1ee9c c\u1ee7a Ng\u00e2n h\u00e0ng Trung \u01b0\u01a1ng:<\/strong>&nbsp;C\u00e1c tuy\u00ean b\u1ed1 ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 sau m\u1ed7i quy\u1ebft \u0111\u1ecbnh l\u00e3i su\u1ea5t s\u1ebd tr\u00ecnh b\u00e0y r\u00f5 quan \u0111i\u1ec3m v\u00e0 l\u1eadp tr\u01b0\u1eddng ch\u00ednh s\u00e1ch c\u1ee7a Ng\u00e2n h\u00e0ng Trung \u01b0\u01a1ng \u0111\u1ed1i v\u1edbi n\u1ec1n kinh t\u1ebf. \u0110\u1ecdc k\u1ef9 ng\u00f4n t\u1eeb \u0111\u1ec3 xem h\u1ecd lo ng\u1ea1i v\u1ec1 l\u1ea1m ph\u00e1t (c\u00f3 th\u1ec3 th\u1eaft ch\u1eb7t) hay lo ng\u1ea1i v\u1ec1 t\u0103ng tr\u01b0\u1edfng kinh t\u1ebf (c\u00f3 th\u1ec3 n\u1edbi l\u1ecfng) ?<\/li>\n <li><strong>Ph\u00e1t bi\u1ec3u c\u00f4ng khai c\u1ee7a quan ch\u1ee9c Ng\u00e2n h\u00e0ng Trung \u01b0\u01a1ng:<\/strong>&nbsp;Th\u1ed1ng \u0111\u1ed1c, Ch\u1ee7 t\u1ecbch v\u00e0 c\u00e1c nh\u00e0 ho\u1ea1ch \u0111\u1ecbnh ch\u00ednh s\u00e1ch quan tr\u1ecdng th\u01b0\u1eddng c\u00f3 c\u00e1c b\u00e0i ph\u00e1t bi\u1ec3u v\u00e0 ph\u1ecfng v\u1ea5n c\u00f4ng khai, ti\u1ebft l\u1ed9 quan \u0111i\u1ec3m v\u1ec1 h\u01b0\u1edbng \u0111i ch\u00ednh s\u00e1ch t\u01b0\u01a1ng lai (g\u1ecdi l\u00e0 \u201cd\u1eabn d\u1eaft tr\u01b0\u1edbc\u201d). Th\u1ecb tr\u01b0\u1eddng s\u1ebd ph\u00e2n t\u00edch k\u1ef9 t\u00f4ng gi\u1ecdng l\u00e0 \u201cdi\u1ec1u h\u00e2u\u201d hay \u201cb\u1ed3 c\u00e2u\u201d.<\/li>\n <li><strong>Di\u1ec5n bi\u1ebfn th\u1ef1c t\u1ebf c\u1ee7a l\u00e3i su\u1ea5t v\u00e0 k\u1ef3 v\u1ecdng th\u1ecb tr\u01b0\u1eddng:<\/strong>&nbsp;Quan s\u00e1t l\u1ecbch s\u1eed \u0111i\u1ec1u ch\u1ec9nh l\u00e3i su\u1ea5t g\u1ea7n \u0111\u00e2y c\u1ee7a Ng\u00e2n h\u00e0ng Trung \u01b0\u01a1ng v\u00e0 k\u1ef3 v\u1ecdng th\u1ecb tr\u01b0\u1eddng (qua c\u00e1c c\u00f4ng c\u1ee5 nh\u01b0 h\u1ee3p \u0111\u1ed3ng t\u01b0\u01a1ng lai l\u00e3i su\u1ea5t) v\u1ec1 \u0111\u01b0\u1eddng \u0111i l\u00e3i su\u1ea5t trong t\u01b0\u01a1ng lai.<\/li>\n <li><strong>Hi\u1ec7u su\u1ea5t c\u00e1c ch\u1ec9 s\u1ed1 kinh t\u1ebf then ch\u1ed1t:<\/strong>&nbsp;L\u1ea1m ph\u00e1t v\u00e0 d\u1eef li\u1ec7u vi\u1ec7c l\u00e0m m\u1ea1nh m\u1ebd li\u00ean t\u1ee5c c\u00f3 th\u1ec3 l\u00e0m t\u0103ng \u00e1p l\u1ef1c cho ch\u00ednh s\u00e1ch th\u1eaft ch\u1eb7t; ng\u01b0\u1ee3c l\u1ea1i, d\u1eef li\u1ec7u y\u1ebfu c\u00f3 th\u1ec3 l\u00e0m t\u0103ng kh\u1ea3 n\u0103ng n\u1edbi l\u1ecfng. Ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 th\u01b0\u1eddng \u201cph\u1ee5 thu\u1ed9c v\u00e0o d\u1eef li\u1ec7u\u201d (Data-dependent).<\/li>\n<\/ul>\n<br>\n\n<h3><strong>5. \u00dd ngh\u0129a c\u1ee7a ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 \u0111\u1ed1i v\u1edbi ng\u01b0\u1eddi m\u1edbi:&nbsp;N\u1eafm b\u1eaft xu h\u01b0\u1edbng l\u1edbn<\/strong>&nbsp;<\/h3>\nL\u00e0 ng\u01b0\u1eddi m\u1edbi trong ngo\u1ea1i h\u1ed1i, b\u1ea1n c\u00f3 th\u1ec3 kh\u00f4ng c\u1ea7n nghi\u00ean c\u1ee9u s\u00e2u t\u1eebng chi ti\u1ebft c\u1ee7a ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 nh\u01b0 c\u00e1c nh\u00e0 ph\u00e2n t\u00edch chuy\u00ean nghi\u1ec7p, nh\u01b0ng hi\u1ec3u \u0111\u01b0\u1ee3c h\u01b0\u1edbng \u0111i c\u01a1 b\u1ea3n l\u00e0 r\u1ea5t quan tr\u1ecdng:&nbsp;<br><br>\n<ul>\n <li><strong>Cung c\u1ea5p b\u1ed1i c\u1ea3nh v\u0129 m\u00f4:<\/strong>&nbsp;Hi\u1ec3u Ng\u00e2n h\u00e0ng Trung \u01b0\u01a1ng c\u1ee7a c\u00e1c n\u1ec1n kinh t\u1ebf l\u1edbn (nh\u01b0 M\u1ef9, Khu v\u1ef1c \u0111\u1ed3ng Euro) hi\u1ec7n \u0111ang trong \u201cchu k\u1ef3 th\u1eaft ch\u1eb7t\u201d hay \u201cchu k\u1ef3 n\u1edbi l\u1ecfng\u201d s\u1ebd gi\u00fap b\u1ea1n \u0111\u00e1nh gi\u00e1 c\u01a1 b\u1ea3n trung v\u00e0 d\u00e0i h\u1ea1n c\u1ee7a c\u00e1c \u0111\u1ed3ng ti\u1ec1n li\u00ean quan l\u00e0 m\u1ea1nh hay y\u1ebfu, l\u00e0m c\u01a1 s\u1edf tham kh\u1ea3o cho giao d\u1ecbch.<\/li>\n <li><strong>Gi\u1ea3i th\u00edch nguy\u00ean nh\u00e2n bi\u1ebfn \u0111\u1ed9ng th\u1ecb tr\u01b0\u1eddng:<\/strong>&nbsp;Nhi\u1ec1u khi bi\u1ebfn \u0111\u1ed9ng l\u1edbn tr\u00ean th\u1ecb tr\u01b0\u1eddng ngo\u1ea1i h\u1ed1i b\u1eaft ngu\u1ed3n t\u1eeb s\u1ef1 thay \u0111\u1ed5i k\u1ef3 v\u1ecdng v\u1ec1 ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7. Hi\u1ec3u \u0111i\u1ec1u n\u00e0y gi\u00fap b\u1ea1n hi\u1ec3u t\u1ea1i sao m\u1ed9t s\u1ed1 tin t\u1ee9c ho\u1eb7c d\u1eef li\u1ec7u l\u1ea1i g\u00e2y ra bi\u1ebfn \u0111\u1ed9ng m\u1ea1nh nh\u01b0 v\u1eady.<\/li>\n <li><strong>H\u1ed7 tr\u1ee3 l\u1ecdc t\u00edn hi\u1ec7u giao d\u1ecbch:<\/strong>&nbsp;M\u1eb7c d\u00f9 ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 kh\u00f4ng ph\u1ea3i l\u00e0 t\u00edn hi\u1ec7u mua b\u00e1n tr\u1ef1c ti\u1ebfp, nh\u01b0ng n\u00f3 gi\u00fap b\u1ea1n l\u1ecdc c\u00e1c t\u00edn hi\u1ec7u ph\u00e2n t\u00edch k\u1ef9 thu\u1eadt. V\u00ed d\u1ee5, trong b\u1ed1i c\u1ea3nh Ng\u00e2n h\u00e0ng Trung \u01b0\u01a1ng r\u00f5 r\u00e0ng \u0111ang th\u1eaft ch\u1eb7t (di\u1ec1u h\u00e2u), b\u1ea1n c\u00f3 th\u1ec3 tin t\u01b0\u1edfng h\u01a1n v\u00e0o t\u00edn hi\u1ec7u mua k\u1ef9 thu\u1eadt v\u00e0 th\u1eadn tr\u1ecdng h\u01a1n v\u1edbi t\u00edn hi\u1ec7u b\u00e1n.<\/li>\n <li><strong>N\u00e2ng cao nh\u1eadn th\u1ee9c v\u1ec1 r\u1ee7i ro:<\/strong>&nbsp;Bi\u1ebft l\u1ecbch h\u1ecdp v\u00e0 r\u1ee7i ro thay \u0111\u1ed5i ch\u00ednh s\u00e1ch c\u1ee7a Ng\u00e2n h\u00e0ng Trung \u01b0\u01a1ng gi\u00fap b\u1ea1n qu\u1ea3n l\u00fd r\u1ee7i ro giao d\u1ecbch t\u1ed1t h\u01a1n, tr\u00e1nh \u0111\u1ec3 l\u1ed9 qu\u00e1 nhi\u1ec1u v\u1ecb th\u1ebf v\u00e0o nh\u1eefng th\u1eddi \u0111i\u1ec3m quan tr\u1ecdng.<\/li>\n<\/ul>\n<br>\n\n<h3><strong>K\u1ebft lu\u1eadn<\/strong>&nbsp;<\/h3>\nCh\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 l\u00e0 chi\u1ebfn l\u01b0\u1ee3c v\u00e0 h\u00e0nh \u0111\u1ed9ng t\u1ed5ng th\u1ec3 m\u00e0 Ng\u00e2n h\u00e0ng Trung \u01b0\u01a1ng s\u1eed d\u1ee5ng \u0111\u1ec3 \u0111i\u1ec1u ti\u1ebft kinh t\u1ebf, \u0111\u1ea1t \u0111\u01b0\u1ee3c c\u00e1c m\u1ee5c ti\u00eau nh\u01b0 \u1ed5n \u0111\u1ecbnh gi\u00e1 c\u1ea3 v\u00e0 th\u00fac \u0111\u1ea9y vi\u1ec7c l\u00e0m.<br>\nCh\u00ednh s\u00e1ch n\u00e0y ch\u1ee7 y\u1ebfu th\u00f4ng qua vi\u1ec7c \u0111i\u1ec1u ch\u1ec9nh l\u00e3i su\u1ea5t c\u01a1 b\u1ea3n v\u00e0 c\u00e1c c\u00f4ng c\u1ee5 kh\u00e1c \u0111\u1ec3 \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn ngu\u1ed3n cung ti\u1ec1n v\u00e0 chi ph\u00ed vay m\u01b0\u1ee3n tr\u00ean th\u1ecb tr\u01b0\u1eddng, th\u01b0\u1eddng \u0111\u01b0\u1ee3c chia th\u00e0nh hai lo\u1ea1i ch\u00ednh:&nbsp;\u201cth\u1eaft ch\u1eb7t\u201d (di\u1ec1u h\u00e2u) nh\u1eb1m ki\u1ec1m ch\u1ebf l\u1ea1m ph\u00e1t v\u00e0 \u201cn\u1edbi l\u1ecfng\u201d (b\u1ed3 c\u00e2u) nh\u1eb1m k\u00edch th\u00edch kinh t\u1ebf.<br><br>\nHi\u1ec3u \u0111\u01b0\u1ee3c t\u00f4ng gi\u1ecdng ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 c\u1ee7a c\u00e1c Ng\u00e2n h\u00e0ng Trung \u01b0\u01a1ng l\u1edbn v\u00e0 nh\u1eefng bi\u1ebfn \u0111\u1ed9ng c\u00f3 th\u1ec3 x\u1ea3y ra l\u00e0 r\u1ea5t quan tr\u1ecdng \u0111\u1ec3 n\u1eafm b\u1eaft xu h\u01b0\u1edbng trung v\u00e0 d\u00e0i h\u1ea1n c\u1ee7a th\u1ecb tr\u01b0\u1eddng ngo\u1ea1i h\u1ed1i c\u0169ng nh\u01b0 hi\u1ec3u \u0111\u01b0\u1ee3c c\u00e1c bi\u1ebfn \u0111\u1ed9ng th\u1ecb tr\u01b0\u1eddng.<br>\n\u0110\u1ed1i v\u1edbi ng\u01b0\u1eddi m\u1edbi, tr\u1ecdng t\u00e2m l\u00e0 theo d\u00f5i c\u00e1c tuy\u00ean b\u1ed1 c\u1ee7a Ng\u00e2n h\u00e0ng Trung \u01b0\u01a1ng v\u00e0 d\u1eef li\u1ec7u kinh t\u1ebf then ch\u1ed1t \u0111\u1ec3 hi\u1ec3u xu h\u01b0\u1edbng ch\u00ednh s\u00e1ch hi\u1ec7n t\u1ea1i (th\u1eaft ch\u1eb7t hay n\u1edbi l\u1ecfng), d\u00f9ng l\u00e0m c\u01a1 s\u1edf \u0111\u00e1nh gi\u00e1 b\u1ed1i c\u1ea3nh v\u0129 m\u00f4 c\u1ee7a th\u1ecb tr\u01b0\u1eddng, k\u1ebft h\u1ee3p v\u1edbi \u00fd th\u1ee9c qu\u1ea3n l\u00fd r\u1ee7i ro, thay v\u00ec c\u1ed1 g\u1eafng d\u1ef1 \u0111o\u00e1n ho\u1eb7c giao d\u1ecbch ng\u1eafn h\u1ea1n d\u1ef1a tr\u00ean \u0111\u00f3.<br>\n<\/span><\/div><\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-be5c0b0 elementor-widget elementor-widget-template\" data-id=\"be5c0b0\" data-element_type=\"widget\" data-widget_type=\"template.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-template\">\n\t\t\t\t\t<div data-elementor-type=\"container\" data-elementor-id=\"49848\" class=\"elementor elementor-49848\" data-elementor-post-type=\"elementor_library\">\n\t\t\t\t<div class=\"elementor-element elementor-element-43b58eaa e-flex e-con-boxed e-con e-parent\" data-id=\"43b58eaa\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-83f27ac elementor-widget elementor-widget-html translation-block\" data-id=\"83f27ac\" data-element_type=\"widget\" data-widget_type=\"html.default\"><span>\n<strong style=\"font-size: 1.2em\">\nXin ch\u00e0o, ch\u00fang t\u00f4i l\u00e0 <a href=\"https:\/\/mister.forex\/vi\/about-us\/\" target=\"_blank\" style=\"text-decoration: underline\">\u0110\u1ed9i ng\u0169 Nghi\u00ean c\u1ee9u Mr.Forex<\/a><\/strong><br>\n\nGiao d\u1ecbch kh\u00f4ng ch\u1ec9 c\u1ea7n t\u01b0 duy \u0111\u00fang \u0111\u1eafn m\u00e0 c\u00f2n c\u1ea7n c\u00e1c c\u00f4ng c\u1ee5 v\u00e0 th\u00f4ng tin h\u1eefu \u00edch. Ch\u00fang t\u00f4i t\u1eadp trung v\u00e0o \u0111\u00e1nh gi\u00e1 c\u00e1c nh\u00e0 m\u00f4i gi\u1edbi to\u00e0n c\u1ea7u, thi\u1ebft l\u1eadp h\u1ec7 th\u1ed1ng giao d\u1ecbch (MT4 \/ MT5, EA, VPS) v\u00e0 n\u1ec1n t\u1ea3ng forex th\u1ef1c chi\u1ebfn. Ch\u00fang t\u00f4i tr\u1ef1c ti\u1ebfp h\u01b0\u1edbng d\u1eabn b\u1ea1n n\u1eafm v\u1eefng \"h\u01b0\u1edbng d\u1eabn s\u1eed d\u1ee5ng\" c\u1ee7a th\u1ecb tr\u01b0\u1eddng t\u00e0i ch\u00ednh, x\u00e2y d\u1ef1ng m\u00f4i tr\u01b0\u1eddng giao d\u1ecbch chuy\u00ean nghi\u1ec7p t\u1eeb con s\u1ed1 kh\u00f4ng.<br>\n<br>\n\n<strong>N\u1ebfu b\u1ea1n mu\u1ed1n chuy\u1ec3n t\u1eeb l\u00fd thuy\u1ebft sang th\u1ef1c h\u00e0nh:<\/strong><br>\n1. H\u00e3y chia s\u1ebb b\u00e0i vi\u1ebft n\u00e0y \u0111\u1ec3 nhi\u1ec1u nh\u00e0 giao d\u1ecbch th\u1ea5y \u0111\u01b0\u1ee3c s\u1ef1 th\u1eadt.<br>\n2. \u0110\u1ecdc th\u00eam c\u00e1c b\u00e0i vi\u1ebft li\u00ean quan \u0111\u1ebfn <a href=\"https:\/\/mister.forex\/vi\/category\/learn-forex\/\" target=\"_blank\">H\u1ecdc Forex<\/a>.\n<\/span><\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>","protected":false},"excerpt":{"rendered":"<p>Ng\u01b0\u1eddi m\u1edbi b\u1eaft \u0111\u1ea7u ph\u1ea3i h\u1ecdc ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 ngo\u1ea1i h\u1ed1i! Hi\u1ec3u v\u1ec1 th\u1eaft ch\u1eb7t (di\u1ec1u h\u00e2u) v\u00e0 n\u1edbi l\u1ecfng (b\u1ed3 c\u00e2u) c\u0169ng nh\u01b0 s\u1ef1 kh\u00e1c bi\u1ec7t gi\u1eefa ch\u00fang, v\u00e0 c\u00e1ch ch\u00fang \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn h\u01b0\u1edbng t\u1ef7 gi\u00e1.<\/p>","protected":false},"author":1,"featured_media":46731,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[83],"tags":[128],"class_list":["post-55778","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-learn-forex","tag-no-google"],"_links":{"self":[{"href":"https:\/\/mister.forex\/vi\/wp-json\/wp\/v2\/posts\/55778","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mister.forex\/vi\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mister.forex\/vi\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mister.forex\/vi\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mister.forex\/vi\/wp-json\/wp\/v2\/comments?post=55778"}],"version-history":[{"count":0,"href":"https:\/\/mister.forex\/vi\/wp-json\/wp\/v2\/posts\/55778\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mister.forex\/vi\/wp-json\/wp\/v2\/media\/46731"}],"wp:attachment":[{"href":"https:\/\/mister.forex\/vi\/wp-json\/wp\/v2\/media?parent=55778"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mister.forex\/vi\/wp-json\/wp\/v2\/categories?post=55778"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mister.forex\/vi\/wp-json\/wp\/v2\/tags?post=55778"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}