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政策门槛已被抬高!美联储会议纪要显示对未来进一步降息持“有条件支持”态度
Zhi Tong Cai Jing· 2025-12-30 22:28
根据会议纪要援引的一项调查,受访者预计,美联储在未来12个月内的净买入规模平均约为2200亿美 元。美联储计划初期每月购买约400亿美元国库券,随后逐步放缓节奏,目前已在当月完成约380亿美元 的购买,并计划在1月继续操作。 官员强调,这一举措旨在管理银行准备金水平,与货币政策立场或刺激经济无关。会议讨论指出,在量 化紧缩(QT)与国库券发行规模上升的共同作用下,短期资金成本上升速度快于以往周期,回购市场一度 显现紧张迹象。美联储已于本月早些时候结束缩表,以防流动性不足冲击金融市场"管道系统"。 纪要显示,部分官员建议,不应机械地锚定某一准备金数量,而应更多关注货币市场利率相对于准备金 利率的表现。数据显示,关键隔夜融资利率在12月29日固定在3.77%,比准备金利率高出12个基点。 最新公布的会议纪要显示,美联储官员在12月是否降息的问题上,内部立场远比分歧投票结果本身更为 复杂。尽管联邦公开市场委员会(FOMC)最终决定年内第三次、也是最后一次下调利率,纪要披露,多 名支持降息的官员当时"几乎支持暂停降息"。 纪要显示,12月会议上共有三名官员投下反对票,为2019年以来最多。其中两人主张维持利率不变,另 ...
纽约联储:维持下午常备回购工具操作。
news flash· 2025-05-28 18:24
Core Viewpoint - The New York Federal Reserve has decided to maintain its afternoon standing repurchase agreement operations, indicating a continued commitment to liquidity support in the financial system [1] Group 1 - The decision reflects the Federal Reserve's strategy to manage short-term interest rates and ensure sufficient liquidity in the market [1] - The standing repurchase agreement operations are a tool used by the Federal Reserve to provide temporary liquidity to financial institutions [1]
5月29日电,纽约联储将于6月26日启动早间常备回购工具操作。
news flash· 2025-05-28 18:21
Core Viewpoint - The New York Federal Reserve will initiate morning repurchase agreement operations on June 26 [1] Group 1 - The New York Federal Reserve is set to launch a new operational tool aimed at enhancing liquidity in the financial system [1]
纽约联储:将于6月26日启动早间常备回购工具操作。
news flash· 2025-05-28 18:20
Core Viewpoint - The New York Federal Reserve will initiate morning repurchase agreement operations starting June 26 [1] Group 1 - The early morning repurchase tool operation is aimed at providing liquidity to the financial system [1] - This move is part of the Federal Reserve's ongoing efforts to manage short-term interest rates effectively [1] - The decision reflects the Fed's commitment to ensuring stable market conditions [1]