巴西央行：在预期未被锚定的环境下，确保通胀趋向目标需要采取大幅收紧的货币政策，并持续相当长 的时间。 ...

6月19日，美联储将基准利率维持在4.25%-4.50%不变，连续第四次会议按兵不动，符合市场预期。 委员会致力于在长期内实现最大就业和2%的通胀目标。尽管经济前景的不确定性已有所缓解，但仍处 于高位。委员会高度关注其"双重使命"两方面所面临的风险。 为支持上述目标，委员会决定将联邦基金利率目标区间维持在4.25%至4.5%之间。在评估是否以及何时 进一步调整这一目标区间时，委员会将密切评估最新数据、前景变化及风险平衡情况。委员会将继续缩 减所持有的国债、机构债及机构抵押贷款支持证券的规模。委员会坚定致力于支持最大就业，并将通胀 率恢复至2%的目标水平。 在评估货币政策的适当立场时，委员会将继续关注新发布信息对经济前景的影响。如出现可能阻碍实现 委员会目标的风险，委员会准备在适当情况下调整货币政策立场。委员会的评估将综合考虑多方面信 息，包括劳动力市场状况、通胀压力与预期、以及金融和国际动态等。 支持本次货币政策决定的委员包括：主席鲍威尔（Jerome H. Powell）、副主席约翰·威廉姆斯（John C. Williams）、迈克尔·巴尔（Michael S. Barr）、米歇尔·鲍曼（Michelle ...

Core Viewpoint - The European Central Bank (ECB) is in a favorable position, with the Eurozone nearly achieving the 2% inflation target, indicating a stable economic environment [1] Group 1 - The ECB should remain vigilant and pragmatic in its approach to monetary policy [1] - There is a need for swift responses to changing economic conditions when necessary [1] - Decision-making should include an analysis of the Euro exchange rate [1]

欧洲央行管委维勒鲁瓦：我们处于良好的位置，几乎达到了2%的通胀目标。 ...

Core Viewpoint - The European Central Bank (ECB) is in a strong position, having nearly reached its 2% inflation target, and should maintain a flexible and pragmatic approach to monetary policy [1] Group 1 - The ECB should act swiftly if necessary, indicating a readiness to respond to economic changes [1] - The appreciation of the euro should be incorporated into the ECB's monetary policy decisions, highlighting the importance of currency value in economic strategy [1]

Group 1 - The Bank of Japan decided to maintain the short-term interest rate at 0.5% and plans to slow down the reduction of its balance sheet next year, indicating a cautious approach to unwinding a decade-long large-scale stimulus policy [1] - The Bank of Japan's Governor, Kazuo Ueda, emphasized the need to closely monitor upcoming economic data and the overall inflation situation before considering any rate hikes [1] - There is a recognition of high uncertainty in the economic environment, with mixed signals from sentiment surveys and actual economic data, which complicates the timing of potential interest rate increases [1] Group 2 - Trade uncertainties are expected to suppress winter bonuses and next year's wage negotiations, with actual impacts difficult to predict until more data is available [2] - The ongoing tensions in the Middle East and rising food prices could affect inflation expectations and potential inflation in Japan, necessitating careful monitoring of these developments [2] - The impact of trade tensions may primarily manifest through declining manufacturing profits, prompting companies to adopt cost-cutting pricing strategies [2] Group 3 - Recent data shows consumer inflation fluctuating around 3%, primarily driven by rising import costs and rice prices, although these pressures are expected to gradually dissipate [3] - There is a significant uncertainty surrounding global trade policies, which poses greater downside risks to Japan's economy and price levels [3]

谈及经济和通胀形势，植田和男表示，当前日本经济呈温和复苏态势，物价方面未出现大幅波动，不过 通胀预期仍未稳定达到2%的目标水平。他强调，若经济前景符合预期，将适时考虑加息政策。植田和 男还关注到一些外部因素对通胀趋势的潜在影响，如食品价格上涨以及中东地区冲突，若持续发酵，可 能对趋势通胀产生二次影响，为此，日本央行将密切跟踪中东局势动态。此外，他重申贸易政策存在高 度不确定性，认为其影响预计更为显著，当前全球与情绪相关的数据走弱，不少观点认为今年下半年经 济数据不容乐观，在此背景下，全面、深入评估广泛数据和信息，对准确把握经济形势和制定合理政策 至关重要。 在6月16日至17日的议息会议上，日本央行决定维持0.5%的政策利率不变，展现鸽派政策立场。同时， 下调经济增长预测及通货膨胀预期，指出全球经济体贸易政策不确定性高，给日本经济复苏和物价稳定 带来下行压力。日本央行强调需密切监控外汇市场波动、金融市场动态以及国际贸易政策变化对国内经 济与价格走势的潜在影响。尽管近期通胀率有所上升，但央行决策者倾向于在核心通胀率长期稳固接近 2%目标水平前，维持当前宽松货币政策立场。 日本央行购债计划也有调整。近期宣布，在2 ...

Group 1 - The Bank of Japan (BOJ) maintains the benchmark interest rate at 0.5%, marking the third consecutive meeting of rate stability, aligning with market expectations [1] - The BOJ will continue its bond reduction plan until March 2026, with a quarterly reduction of approximately 200 billion yen starting from April 2026 [1] - Japan's overall economy shows signs of moderate recovery, despite some regional economic activities remaining sluggish [1][2] Group 2 - The consumer price index (CPI) excluding fresh food has increased by approximately 3.5% year-on-year, driven by rising wages, past import price increases, and food price hikes [1] - Core CPI inflation is expected to remain subdued in the short term, but may gradually approach the 2% target in the medium to long term due to labor shortages and economic growth recovery [1][3] - The BOJ emphasizes the importance of flexible adjustments to its bond purchase plan in response to global economic uncertainties and risks, particularly from trade policies [1][3] Group 3 - BOJ Governor Kazuo Ueda expresses a cautious outlook on domestic and international economic conditions, indicating that all monetary policy tools remain on the table [2] - The decision to reduce bond purchases is aimed at preventing bond yield fluctuations and ensuring market stability [2] - Ueda highlights the need for close monitoring of global economic conditions, particularly trade policy uncertainties, and commits to a flexible response strategy [3]

日本内阁官房长官林芳正：日本央行应适当实施货币政策，以实现通胀目标的稳定和可持续，同时与政 府密切合作。 ...

欧洲央行副行长de Guindos：低于预期的风险非常有限。 欧元汇率不会成为一个重大障碍。 市场认为欧洲央行非常接近通胀目标。 ...