马来西亚央行将隔夜政策利率下调25个基点至2.75%。 ...

马来西亚央行：经济增长前景的风险偏向下行，主要源于全球贸易放缓。展望未来，经济增长预计将受 到国内需求韧性的支持。降低基准利率是为应对适度通胀前景而采取的先发制人措施，旨在维护经济的 稳定增长。 ...

Group 1 - The offshore RMB Hong Kong Interbank Offered Rate (HIBOR) showed a rebound in most tenors, while the one-year HIBOR continued to hit a record low [1] - The overnight HIBOR increased by 11 basis points to 1.52136%, reaching a near one-week high [1] - The one-week HIBOR slightly rose to 1.59621%, temporarily moving away from a three-week low [1] Group 2 - The two-week HIBOR remained unchanged at 1.63485% [1] - The one-year HIBOR decreased slightly to 1.85409%, continuing to set a record low [1]

周三（7月9日）亚市盘中，澳元/美元短线突然走跌，最新澳元兑美元汇率报0.6514，跌幅0.15%，分析 师此前曾预测澳洲联储（RBA）会将利率从3.85%下调至3.60%。然而，澳洲联储选择维持利率不变， 令市场猝不及防。 尽管澳元对美元汇率一度升至0.6545水平上方，但这一区域未来可能成为阻力位。 澳大利亚5月份通胀率低于预期，为2.1%，是2024年10月以来的最低水平。第一季度通胀率为2.4%，维 持在四年来的最低水平。 利率决议公布后不久，S&P/ASX 200指数下跌0.24%，澳元因澳洲联储出人意料地决定维持利率不变而 上涨了1%以上。 自7月初以来，澳元/美元的价格走势一直在形成一个下降通道。在此背景下： 澳元大幅上涨及随后的回落凸显了该通道上边界的重要性； 该货币对测试了此前被突破的上升趋势线（蓝色通道的下轨）； 澳洲联储周二将政策利率维持在3.85%不变，称需要更多时间来评估通胀数据。经济学家此前预计利率 将下调25个基点至3.6%。 澳洲联储在周二的声明中表示，正在等待"更多信息来确认通胀率仍将在可持续的基础上达到2.5%"。 澳洲联储补充道："虽然最近的月度消费者价格指数(CPI)表 ...

周三（7月9日）亚市盘中，澳元/美元短线突然跳水，仍企稳0.6500关口，最新澳元兑美元汇率报 0.6513，跌幅0.17%，近期澳洲联储（RBA）的利率决议（7月8日）成为市场焦点。多数经济学家此前 预期其将降息25个基点，然而RBA却出人意料地维持现金利率在3.85%不变。 周二，澳元（AUD）对美元（USD）走强，结束了其三天的连跌势头，澳元兑美元汇率上涨，因为澳 大利亚储备银行（RBA）决定将官方现金利率（OCR）维持在3.85%不变，而不是像市场高度预期的那 样在7月份降息25个基点。 澳大利亚储备银行行长米歇尔·布尔科在会议后的新闻发布会上表示，虽然利率已经下调了50个基点， 但全部效果尚未显现。布尔科强调，下一次会议将有更多数据和进展可供参考。她强调，谨慎而逐步的 政策宽松方式仍然是适当的。 澳大利亚财政部长吉姆·查默斯表示，澳大利亚储备银行的利率保持不变的决定既不是数百万澳大利亚 人所希望的结果，也不是市场所预期的结果。查默斯补充说，央行已就未来的通胀和利率走势发出了明 确信号。 澳元兑美元汇率面临新的关税担忧所带来的挑战。然而，白宫周一晚些时候宣布，美国总统唐纳德·特 朗普已签署一项行政命令 ...

Core Viewpoint - The Reserve Bank of Australia is expected to lower the cash rate to 3.60% in August, according to a survey of 30 economists [1] - The median forecast indicates a further reduction to 3.35% by the end of 2025, up from a previous median prediction of 3.10% before the July meeting [1] Summary by Category - **Interest Rate Forecast** - Economists unanimously predict a cash rate decrease to 3.60% in August [1] - The median forecast for the cash rate by the end of 2025 is now 3.35%, reflecting a downward adjustment from earlier predictions [1]

Core Viewpoint - The Hong Kong Stock Exchange (HKEX) highlights the significant growth and optimization of the Swap Connect since its launch in May 2023, with monthly transaction volumes increasing from 50 billion RMB to 380 billion RMB by May 2025, representing a 660% growth [1][2]. Group 1: Trading Scale and Growth - The Swap Connect officially launched on May 15, 2023, with only 22 offshore investors participating and a transaction volume of 50 billion RMB in the first month [2]. - By April 2025, the total value of onshore fixed-income products held by international investors reached 4.4 trillion RMB, a 10% increase from the previous year [2]. - As of the first quarter of 2025, the number of offshore investors participating in the Swap Connect exceeded 80, with a monthly transaction volume of 380 billion RMB in May 2025, far exceeding initial expectations [2][3]. Group 2: Market Optimization and Future Prospects - Since its inception, the Swap Connect has undergone continuous optimization, including the expansion of eligible collateral and the extension of the maximum remaining term for interest rate swap contracts from 10 years to 30 years [4]. - The HKEX anticipates further product expansions, including the introduction of interest rate swap contracts referencing the one-year Loan Prime Rate (LPR), aimed at enhancing the attractiveness of RMB-denominated assets for offshore investors [4][5]. - The Swap Connect has become the preferred tool for offshore investors to hedge interest rate risks, with a notable shift from the NDIRS (offshore RMB interest rate swap) market to the Swap Connect market [6][7]. Group 3: Infrastructure and Demand - The increasing interest from international investors in RMB interest rate swaps has led to a demand for improved infrastructure and product offerings within the Swap Connect [8]. - Recommendations include expanding transaction limits and diversifying product types to meet the growing needs of offshore investors [8].

1. 利率决议：新西兰联储将基准利率维持在3.25%不变，符合市场预期，此前连续六次会议降息。委员 会讨论了本次会议的两种选项，一是降息25bp，二是维持利率不变。 2. 通胀预期：到2025年中期，CPI通胀年率可能会上升到货币政策委员会1%至3%的目标区间的顶部。 随着经济中闲置的生产能力和国内通胀压力的下降，整体通胀率预计将保持在区间内，到2026年初将恢 复到2%左右。 3. 利率预期：如果中期通胀压力继续如预期般缓解，预计将进一步降低官方现金利率。 金十整理：新西兰联储利率决议重点一览——维持利率不变 未来有望进一步降息 4. 经济前景：经济前景仍然高度不确定。全球政策不确定性加剧，关税预计将降低全球经济增长。这可 能会减缓新西兰经济复苏的步伐，减轻通胀压力。 5. 市场反应：利率决议公布后，纽元兑美元NZD/USD短线波动近20点。 纽元/美元 ...

Core Viewpoint - New Zealand's bond yields continue to rise as the Reserve Bank of New Zealand maintains its interest rates unchanged [1] Group 1 - The Reserve Bank of New Zealand decided to keep the official cash rate steady, which has implications for the bond market [1] - Rising bond yields indicate market expectations of future interest rate hikes or inflation concerns [1] - The decision to maintain rates reflects the central bank's assessment of the current economic conditions and inflation targets [1]

Core Viewpoint - The Reserve Bank of New Zealand has decided to maintain the benchmark interest rate at 3.25%, aligning with market expectations and indicating potential future rate cuts if mid-term inflation pressures ease as anticipated [1] Summary by Relevant Categories Interest Rate Decision - The Reserve Bank of New Zealand has kept the cash rate unchanged at 3.25% [1] - This decision is consistent with a Reuters survey where 19 out of 27 analysts expected the central bank to hold rates steady [1] Inflation and Economic Outlook - Since August of the previous year, the Reserve Bank has reduced interest rates by 225 basis points [1] - Current inflation stands at 2.5%, with concerns regarding trade tensions potentially exacerbating price pressures [1] - The central bank is adopting a cautious approach in light of these economic factors [1]