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通胀压力下降
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负利率“幽灵”重现?瑞士央行降息至零利率,暗示或进一步放松以阻止资金流入
Hua Er Jie Jian Wen· 2025-06-19 12:40
Core Viewpoint - The Swiss National Bank (SNB) has lowered interest rates to zero, indicating a potential return to negative interest rates due to the surge in demand for the Swiss franc as a safe-haven currency, which has adversely impacted inflation and the economy [1][2][6] Group 1: Interest Rate Changes - The SNB announced a 25 basis point cut to bring the interest rate to zero, marking the end of a two-and-a-half-year period of positive interest rates and establishing the lowest benchmark rate among major central banks [1][6] - Economists expect another 25 basis point cut in September, potentially pushing the policy rate into negative territory to curb the appreciation of the Swiss franc and stimulate domestic credit [7] Group 2: Currency Dynamics - The Swiss franc has appreciated significantly, reaching its highest level against the US dollar in a decade, driven by investor concerns over US policy changes [2] - Following the announcement, the Swiss franc rose to an intraday high of 0.9387 against the euro [3] Group 3: Economic Outlook - The SNB has downgraded its inflation forecasts, predicting an average of 0.2% in 2025, 0.5% in 2026, and 0.7% in 2027, down from previous estimates [10] - Despite the strong Swiss franc leading to lower import prices, the SNB maintains its economic growth forecast for this year at 1%-1.5% [11]
通胀压力继续下降 俄罗斯央行意外降息100BP
news flash· 2025-06-06 10:40
金十数据6月6日讯,俄罗斯央行意外将关键利率下调100个基点至20.00%,市场预期为维持在21%不 变。声明显示,当前的通胀压力,包括潜在的通胀压力,继续下降。虽然国内需求增长仍超过商品和服 务供应扩产的能力,但俄罗斯经济正逐渐回到平衡增长的轨道。俄罗斯央行将尽可能保持货币紧缩,以 便在2026年将通胀恢复到目标水平。这意味着货币政策将在较长时期内保持紧缩。有关关键利率的进一 步决定,将取决于通胀和通胀预期下降的速度和可持续性。根据俄罗斯央行的预测,考虑到货币政策立 场,通胀将在2026年回到4.0%,并进一步保持在目标水平。 通胀压力继续下降 俄罗斯央行意外降息100BP ...