（原标题：英国央行下调基准利率） 值得关注的是，英国6月年通胀率意外升至3.6%，为18个月新高，主要受汽油和食 品价格上升推动。经济方面，英国已连续两个月出现负增长，失业率升至4.7%，为近 四年高点。财政大臣雷切尔·里夫斯表示，此次降息将有助于减轻家庭与企业的贷款和 按揭负担，是一项"受欢迎的"政策。 斯通社8月7日伦敦消息，英国央行英格兰银行今日宣布将基准利率下调0.25个百分 点至4%，为两年半以来最低水平。与此同时，英国央行将2025年全年经济增长预期上 调至1.25%，调高0.25个百分点。此次降息符合市场预期，旨在缓解美国上调进口关税 对英国经济造成的压力。尽管英方表示美国关税的直接影响低于预期，但整体的不确 定性已削弱市场信心与消费意愿。自去年8月开启降息周期以来，这是第五次降息。行 长贝利指出，未来进一步下调利率将"谨慎而逐步"进行。 ...

Group 1 - The S&P 500 index reached a new high, rising by 1.1%, driven by the latest consumer price index report that reinforced expectations of a likely interest rate cut by the Federal Reserve in September [1][4] - The July core inflation rate in the U.S. rose to its highest level since the beginning of the year, but moderate increases in goods prices alleviated concerns about tariff-driven price pressures [1] - Airline stocks were among the best-performing sectors, benefiting from a decline in oil prices [3] Group 2 - The Richmond Fed President Tom Barkin indicated uncertainty remains regarding whether the Federal Reserve should focus more on controlling inflation or boosting the job market, but noted that economic uncertainty is diminishing [1] - Kansas City Fed President Jeff Schmid expressed support for keeping interest rates unchanged temporarily to prevent economic strength from pushing inflation pressures higher [2]

Group 1 - The Reserve Bank of Australia (RBA) has lowered the benchmark interest rate by 25 basis points to 3.60%, marking the third rate cut this year, with a total reduction of 75 basis points in 2023 [1] - The RBA emphasizes that maintaining price stability and full employment are its primary objectives, noting a decline in underlying inflation to around the midpoint of the 2-3% range and a slight easing in the labor market [1] - A recent survey indicated that 31 out of 34 experts predicted the rate cut, with AMP's Deputy Chief Economist suggesting that the moderate quarterly inflation data warranted the decision [1] Group 2 - The RBA highlighted the lagging effects of recent monetary policy easing and the uncertainty surrounding corporate pricing decisions, alongside global economic uncertainties that could pressure Australia's economic activity and inflation [2] - The decision comes at a delicate moment in global policy shifts, with potential implications for the Australian dollar, investor expectations, and the broader economic environment due to changes in the U.S. Federal Reserve's stance [2]

Core Points - Eurozone inflation rate for May is reported at 1.9%, down from 2.2% in April and below the European Central Bank's target of 2% [1] - Core inflation, excluding energy, food, and tobacco, stands at 2.3% for May [1] - Major Eurozone economies show varying inflation rates: Germany at 2.1%, France at 0.6%, Italy at 1.9%, and Spain at 1.9% [1] Economic Analysis - Analysts indicate that U.S. tariff policies cast a shadow over global economic prospects, negatively impacting the EU economy, with unclear direct and potential effects on inflation [1] - There are warnings from economists that due to heightened geopolitical tensions, inflation may rise again soon, driven by trade wars, tariff increases, de-globalization, and corporate value chain restructuring [1] Central Bank Actions - The European Central Bank (ECB) announced a 25 basis point cut in its three key interest rates in April, marking the seventh rate cut since June of the previous year [1] - The ECB is set to update its inflation forecasts and make new interest rate decisions on June 5, with a previous prediction of inflation hovering above the 2% mid-term target for this year, and expected to drop to 1.9% by 2026 [1]

Group 1: CPI Analysis - In July 2025, the CPI year-on-year growth was 0.0%, a decrease of 0.1 percentage points from the previous month[6] - The CPI month-on-month growth was 0.4%, an increase of 0.5 percentage points from the previous month[6] - The core CPI year-on-year growth was 0.8%, up 0.1 percentage points from July[9] Group 2: PPI Analysis - In July 2025, the PPI year-on-year decline was 3.6%, unchanged from the previous month[6] - The PPI month-on-month decline was -0.2%, a narrowing of 0.2 percentage points from the previous month[6] - The production materials prices year-on-year decreased by 4.3%, with the mining sector down 14.0%[30] Group 3: Market Trends - The "anti-involution" effect is gradually emerging, indicating a potential easing of oversupply in consumer goods[3] - External uncertainties and domestic economic pressures continue to hinder effective demand, limiting significant price increases in the near future[37] - The global economic recovery may lead to a rise in commodity prices, potentially pushing PPI growth upward in 2025[37]

Core Insights - Egypt's annual inflation rate in July was reported at 13.1%, a decrease from 14.4% in June [1] - The decline in inflation is attributed to a 1.3% year-on-year decrease in meat and poultry prices, and a 15.4% drop in vegetable prices [1] - Despite the recent decline in inflation rates, there are still upward risks, particularly due to rising energy costs and service fees [1] - The Egyptian government has committed to stabilizing prices and is taking measures to enhance local food production and monitor supply chains [1]

Core Insights - Grayscale's Ethereum (ETH) saw a significant net inflow of $34.6 million, while Ethereum PoW fork (ETHW) attracted $24.8 million, totaling over $59 million in a single day, indicating a positive market sentiment amidst volatility [1][4] - The inflow into Grayscale ETH, although lower than the peak in December, signals institutional confidence in mainstream cryptocurrencies, particularly as traditional funds begin to reallocate amidst a slowing Federal Reserve interest rate hike expectation [4] - The unexpected inflow into ETHW may be attributed to the community's successful "hashrate upgrade," which improved block confirmation speed by 30%, despite its weak fundamentals and reliance on short-term speculation [3][4] Grayscale ETH Insights - Grayscale ETH's net inflow of $34.6 million is a positive signal for the market, especially as it coincides with ETH trading in the $2900-$3100 range, suggesting potential institutional accumulation at lower levels [1][4] - The premium rate for Grayscale ETH has improved from -3.2% to -1.8%, indicating a recovery in market recognition and sentiment [1] Ethereum PoW Fork (ETHW) Insights - ETHW's net inflow of $24.8 million is surprising given its previous marginalization, with its market cap dropping to 0.3% of ETH [3] - The increase in ETHW's trading activity is linked to its recent technical improvements, but caution is advised due to its low staking volume and reliance on speculative trading [3] Market Dynamics - The inflow trends reflect a divergence in market behavior, with institutional investors showing long-term confidence in ETH while retail investors chase high-volatility opportunities in ETHW [4] - The shift of funds from Bitcoin to altcoins, as evidenced by Bitcoin's lower net inflow of $12 million, suggests a broader market rotation [4] Historical Context - The article references a significant market crash on February 3, where ETH dropped 25%, leading to massive liquidations across the crypto market, highlighting the risks associated with high leverage [6] - Following the crash, there was a notable recovery in institutional interest, with a record net inflow of $300 million into Ethereum ETFs, indicating a "buy the dip" mentality among institutions [7] Inflation Concerns - Post-transition to Proof of Stake (PoS), Ethereum's inflation rate has returned to 0%, raising concerns about the effectiveness of token burning mechanisms [9] - Despite the inflation concerns, the PoS inflation rate remains lower than that of Proof of Work (PoW) and Bitcoin, suggesting a potential long-term advantage for ETH [9]

Core Insights - The inflation rate in Ghana decreased from 13.7% in June to 12.1% in July 2025, marking the seventh consecutive decline this year and the lowest level since October 2021 [1] - The decline in inflation is primarily attributed to a significant slowdown in the overall price levels of food and other goods [1] - Despite the decrease in inflation, there has been a slight increase in commodity prices over the past two months, indicating that short-term pressures still exist [1]

Report Industry Investment Rating - Not provided in the content Core View of the Report - The fundamentals of Shanghai copper may be in a stage where the supply growth rate is gradually decreasing and the demand is temporarily weak, but the outlook is positive. It is recommended to conduct short - term long positions at low prices with a light position, while paying attention to controlling the rhythm and trading risks [2] Summary by Relevant Catalogs Futures Market - The closing price of the main futures contract of Shanghai copper was 78,460 yuan/ton, up 180 yuan; the price of LME 3 - month copper was 9,717 dollars/ton, up 41 dollars. The main contract's open interest of Shanghai copper decreased by 973 lots to 157,601 lots. LME copper inventory increased by 2,275 tons to 156,125 tons, while the Shanghai Futures Exchange's cathode copper inventory decreased by 880 tons to 72,543 tons [2] Spot Market - The price of SMM 1 copper spot was 78,500 yuan/ton, up 150 yuan; the price of Yangtze River Non - ferrous Market 1 copper spot was 78,475 yuan/ton, up 115 yuan. The CU main contract basis was 40 yuan/ton, down 30 yuan [2] Upstream Situation - The import volume of copper ore and concentrates was 234.97 million tons, down 4.58 million tons. The output of refined copper was 130.20 million tons, up 4.80 million tons. The price of copper concentrate in Jiangxi and Yunnan increased by 100 yuan/metal ton [2] Industry Situation - The social inventory of copper increased by 0.43 million tons to 41.82 million tons. The price of 1 bright copper wire in Shanghai decreased by 200 yuan/ton, and the price of 2 copper in Shanghai decreased by 250 yuan/ton [2] Downstream and Application - The output of copper products was 221.45 million tons, up 11.85 million tons. The cumulative completed investment in power grid infrastructure was 291.1 billion yuan, up 87.114 billion yuan. The cumulative completed investment in real estate development was 4,665.756 billion yuan, up 1,042.372 billion yuan [2] Option Situation - The 20 - day historical volatility of Shanghai copper was 9.10%, down 0.01%; the 40 - day historical volatility was 9.90%, down 0.21%. The implied volatility of the current - month at - the - money IV decreased by 0.0026%, and the call - put ratio of at - the - money options was 1.13, down 0.0606 [2] Industry News - Fed's Daly said policy may need adjustment in the coming months. Kashkari expected two rate cuts by the end of this year. In July, the central bank's net liquidity injection was 236.5 billion yuan. In August, the retail industry's prosperity index was 50.1%. In July, the retail sales of passenger cars increased by 7% year - on - year [2]

【导读】特朗普：将对芯片和半导体征收约100%的关税 一起来看下最新的海外动态。 特朗普：将对芯片和半导体征收约100%的关税 7月29日，特朗普称，把俄罗斯与乌克兰达成和平协议的最后期限设定为10天，从当天开始计算。如果 俄方没有就此取得进展，将面临美国新的制裁。特朗普对俄罗斯设置的完成俄乌和谈最后期限为8月8 日。 当地时间8月6日，特朗普政府宣布，取消拜登任期末批准的"熔岩岭"风电项目，称其存在"重大法律缺 陷"，并违反多项法定审查程序。该项目原计划在爱达荷州南部修建231台风电机，总装机容量达1000兆 瓦，占地近5.7万英亩。特朗普政府内政部长伯格姆批评该项目"对农村社区构成危害"。 "换句话说，我们将对芯片和半导体征收约100%的关税，但如果你是在美国境内建造，则无需缴纳关 税。"特朗普说，"即使你正在建设，尚未投入生产，但就创造的大量就业岗位和所有建设项目而言，如 果你在建设，就不需要缴纳关税。" 特朗普：开始面试美联储候选人 当地时间8月6日，特朗普表示，开始面试美联储候选人，候选人降至三人，不认为贝森特会担任美联储 职务，将于未来几天任命临时美联储理事。 美联储戴利表示，未来几个月可能需要调 ...