{"id":40738,"date":"2026-03-23T22:59:30","date_gmt":"2026-03-23T22:59:30","guid":{"rendered":"https:\/\/www.vtmarkets.com\/uncategorized\/40738\/"},"modified":"2026-03-23T22:59:30","modified_gmt":"2026-03-23T22:59:30","slug":"ocbc%e8%a1%a8%e7%a4%ba%ef%bc%8c%e8%8b%b1%e6%a0%bc%e8%98%ad%e9%8a%80%e8%a1%8c%ef%bc%88boe%ef%bc%89%e7%9a%84%e8%a8%8a%e6%81%af%e5%bc%95%e7%99%bc%e5%b8%82%e5%a0%b4%e9%87%8d%e6%96%b0%e5%ae%9a%e5%83%b9","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/zh-ca\/live-updates\/40738\/","title":{"rendered":"OCBC\u8868\u793a\uff0c\u82f1\u683c\u862d\u9280\u884c\uff08BoE\uff09\u7684\u8a0a\u606f\u5f15\u767c\u5e02\u5834\u91cd\u65b0\u5b9a\u50f9\uff0c\u81f32026\u5e74\u5e02\u5834\u5df2\u53cd\u662085\u500b\u57fa\u9ede\u7684\u7dca\u7e2e\u5e45\u5ea6\uff0c\u4e26\u5ef6\u5f8c\u539f\u5148\u9810\u671f\u7b2c\u4e09\u5b63\u7684\u964d\u606f"},"content":{"rendered":"\u8fd1\u671f\u82f1\u570b\u592e\u884c\uff08BoE\uff0c\u82f1\u683c\u862d\u9280\u884c\uff09\u767c\u8a00\u5f15\u767c\u5e02\u5834\u5feb\u901f\u91cd\u65b0\u5b9a\u50f9\uff0c\u5e02\u5834\u76ee\u524d\u628a 2026 \u5e74\u7d2f\u8a08\u5347\u606f\u63a5\u8fd1 85 \u500b\u57fa\u9ede\uff08bps\uff0c\u57fa\u9ede\uff1b1 \u500b\u57fa\u9ede = 0.01%\uff09\u8a08\u5165\u50f9\u683c\u3002\u9019\u8b93\u539f\u672c\u9810\u671f\u5728 2026 \u5e74\u7b2c\u4e09\u5b63\uff083Q26\uff09\u964d\u606f\u7684\u770b\u6cd5\u8b8a\u5f97\u4e0d\u90a3\u9ebc\u78ba\u5b9a\uff0c\u4e5f\u63d0\u9ad8\u4e86\u66f4\u9577\u6642\u9593\u7dad\u6301\u5229\u7387\u4e0d\u8b8a\u7684\u53ef\u80fd\u6027\u3002\n\n\u5404\u9805\u9810\u6e2c\u4ecd\u6307\u5411\u672a\u4f86\u4e00\u5e74\u82f1\u938a\u514c\u7f8e\u5143\uff08GBP\/USD\uff09\u5927\u81f4\u7dad\u6301\u7a69\u5b9a\uff0c\u7d04\u5728 1.33\u20131.35\u3002\u5e02\u5834\u89e3\u8b80\u82f1\u570b\u592e\u884c\u7684\u8a0a\u606f\u70ba\u300c\u5148\u6309\u5175\u4e0d\u52d5\u300d\uff0c\u4f46\u4ecd\u4fdd\u7559\u5728\u5fc5\u8981\u6642\u5347\u606f\u7684\u9078\u9805\u3002\n\n<h3>\u5e02\u5834\u91cd\u65b0\u5b9a\u50f9\u8207\u82f1\u570b\u592e\u884c\u5c55\u671b<\/h3>\n\u82f1\u570b\u592e\u884c\u8207\u6b50\u6d32\u592e\u884c\uff08ECB\uff0cEuropean Central Bank\uff0c\u6b50\u6d32\u4e2d\u592e\u9280\u884c\uff09\u8d70\u5411\u66f4\u504f\u300c\u9df9\u6d3e\u300d\uff08hawkish\uff0c\u504f\u5411\u5347\u606f\u3001\u6253\u901a\u81a8\u7684\u614b\u5ea6\uff09\u7684\u98a8\u96aa\u4ecd\u5728\uff0c\u4f46\u9019\u6b21\u91cd\u65b0\u5b9a\u50f9\u540c\u6642\u4e5f\u767c\u751f\u5728\u300c\u7d93\u6fdf\u6210\u9577\u653e\u7de9\u300d\u7684\u64d4\u6182\u4e4b\u4e0b\u3002\u82e5\u80fd\u6e90\u50f9\u683c\u7dad\u6301\u9ad8\u6a94\uff0c\u5f8c\u7e8c\u7684\u6210\u9577\u653e\u6162\u9810\u671f\u5c07\u58d3\u6291\u7d93\u6fdf\u6d3b\u52d5\u3002\n\n\u8f03\u9ad8\u7684\u6cb9\u50f9\u540c\u6642\u88ab\u8996\u70ba\u300c\u901a\u81a8\u885d\u64ca\u300d\uff08inflation shock\uff0c\u7269\u50f9\u56e0\u5916\u90e8\u56e0\u7d20\u7a81\u7136\u4e0a\u5347\uff09\u8207\u300c\u62d6\u7d2f\u6210\u9577\u300d\uff08drag on growth\uff0c\u8b93\u7d93\u6fdf\u8b8a\u6162\u7684\u529b\u91cf\uff09\uff0c\u5f62\u6210\u985e\u4f3c\u300c\u505c\u6eef\u6027\u901a\u81a8\u300d\uff08stagflation\uff0c\u901a\u81a8\u9ad8\u4f46\u6210\u9577\u5f31\uff09\u7684\u7d44\u5408\u3002\u672c\u9031\u5c07\u516c\u5e03 3 \u6708 PMI\uff08\u63a1\u8cfc\u7d93\u7406\u4eba\u6307\u6578\uff1b\u7528\u4f86\u5feb\u901f\u89c0\u5bdf\u666f\u6c23\u5f37\u5f31\uff0c50 \u70ba\u69ae\u67af\u7dda\uff09\u8207\u5176\u4ed6\u4fe1\u5fc3\u8abf\u67e5\uff0c\u9810\u671f\u53ef\u63d0\u4f9b\u65e9\u671f\u7dda\u7d22\uff1b\u5e02\u5834\u591a\u534a\u9810\u4f30\u6578\u64da\u6703\u8f49\u5f31\uff0c\u4e26\u5c0d\u98a8\u96aa\u8cc7\u7522\uff08risk assets\uff0c\u80a1\u5e02\u3001\u9ad8\u6536\u76ca\u50b5\u7b49\u8f03\u6613\u53d7\u666f\u6c23\u5f71\u97ff\u7684\u8cc7\u7522\uff09\u9020\u6210\u58d3\u529b\u3002\n\n\u6211\u5011\u8a8d\u70ba\u5e02\u5834\u5b9a\u50f9\u904e\u982d\u4e86\uff0c\u7adf\u628a 2026 \u5e74\u82f1\u570b\u592e\u884c\u5347\u606f\u5c07\u8fd1 85 \u500b\u57fa\u9ede\u7d0d\u5165\u9810\u671f\u3002\u9019\u6a23\u7684\u5f37\u786c\u5b9a\u50f9\u5ffd\u8996\u4e86\u7d93\u6fdf\u653e\u7de9\u7684\u8de1\u8c61\uff1b\u6839\u64da 2 \u6708\u6578\u64da\uff0c\u82f1\u570b\u901a\u81a8\u4ecd\u9ecf\u8457\u5728 3.4%\uff08sticky\uff0c\u610f\u6307\u4e0d\u5bb9\u6613\u4e0b\u964d\uff09\u3002\u5e02\u5834\u5b9a\u50f9\u8207\u7d93\u6fdf\u73fe\u5be6\u4e4b\u9593\u7684\u843d\u5dee\uff0c\u5f62\u6210\u4e86\u660e\u986f\u7684\u4ea4\u6613\u6a5f\u6703\u3002\n\n<h3>\u70ba\u6210\u9577\u653e\u7de9\u505a\u6e96\u5099<\/h3>\n\u4e3b\u8981\u63a8\u529b\u4f86\u81ea\u5e03\u862d\u7279\u539f\u6cb9\uff08Brent crude\uff0c\u570b\u969b\u6cb9\u50f9\u5e38\u7528\u57fa\u6e96\uff09\u7ad9\u7a69\u6bcf\u6876 95 \u7f8e\u5143\u4ee5\u4e0a\u5e36\u4f86\u7684\u300c\u505c\u6eef\u6027\u901a\u81a8\u885d\u64ca\u300d\u3002\u9019\u4e00\u65b9\u9762\u63a8\u5347\u901a\u81a8\uff0c\u53e6\u4e00\u65b9\u9762\u7b49\u540c\u65bc\u5c0d\u6d88\u8cbb\u8005\u8207\u4f01\u696d\u52a0\u4e86\u4e00\u9053\u6210\u672c\uff08\u53ef\u7406\u89e3\u6210\u300c\u50cf\u7a05\u4e00\u6a23\u7684\u8ca0\u64d4\u300d\uff09\uff0c\u62d6\u7d2f\u6210\u9577\u3002\u82f1\u570b\u592e\u884c\u5728\u7d93\u6fdf\u653e\u7de9\u6642\uff0c\u6703\u975e\u5e38\u8b39\u614e\uff0c\u4e0d\u592a\u53ef\u80fd\u6fc0\u9032\u5347\u606f\uff1b\u9019\u5728 2023 \u5e74\u5df2\u7d93\u5f97\u5230\u6559\u8a13\u3002\n\n\u76ee\u524d\u7126\u9ede\u8f49\u5411\u672c\u9031\u7684 3 \u6708 PMI\uff0c\u9019\u5c07\u662f\u9996\u6b21\u8f03\u6e05\u695a\u89c0\u5bdf\u7d93\u6fdf\u53d7\u640d\u7a0b\u5ea6\u7684\u6578\u64da\u3002\u7531\u65bc 2025 \u5e74\u7b2c\u56db\u5b63\uff08Q4 2025\uff09GDP\uff08\u570b\u5167\u751f\u7522\u6bdb\u984d\uff1b\u8861\u91cf\u7d93\u6fdf\u7e3d\u7522\u51fa\uff09\u6210\u9577\u50c5 0.1%\uff0c\u6211\u5011\u9810\u671f PMI \u6703\u504f\u5f31\uff0c\u751a\u81f3\u53ef\u80fd\u63a5\u8fd1\u4ee3\u8868\u666f\u6c23\u6536\u7e2e\u7684 50.0\u3002\u82e5\u6578\u5b57\u75b2\u5f31\uff0c\u5e02\u5834\u53ef\u80fd\u5feb\u901f\u56de\u5410\uff08unwind\uff0c\u64a4\u92b7\/\u53cd\u5411\uff09\u5148\u524d\u904e\u5ea6\u62bc\u6ce8\u7684\u5347\u606f\u9810\u671f\u3002\n\n\u5c0d\u65bc\u4ea4\u6613\u5229\u7387\u7684\u4eba\u800c\u8a00\uff0c\u9019\u4ee3\u8868\u53ef\u7559\u610f\u300c\u5728\u5347\u606f\u9810\u671f\u4e0b\u4fee\u6642\u53d7\u76ca\u300d\u7684\u7b56\u7565\u3002\u4f8b\u5982\u5728\u77ed\u671f\u5229\u7387\u4ea4\u63db\uff08short-term interest rate swaps\uff0c\u5229\u7387\u4ea4\u63db\uff1b\u4e00\u65b9\u4ed8\u56fa\u5b9a\u5229\u7387\u3001\u53e6\u4e00\u65b9\u4ed8\u6d6e\u52d5\u5229\u7387\u7684\u5408\u7d04\uff09\u4e2d\u300c\u6536\u56fa\u5b9a\u300d\uff08receiving fixed\uff0c\u6536\u56fa\u5b9a\u5229\u7387\/\u4ed8\u6d6e\u52d5\u5229\u7387\uff09\uff0c\u6216\u8cb7\u5165 2026 \u5e74\u5e95\u5230\u671f\u7684 SONIA \u671f\u8ca8\uff08Sterling Overnight Index Average futures\uff1bSONIA \u662f\u82f1\u938a\u9694\u591c\u5229\u7387\u57fa\u6e96\uff0c\u671f\u8ca8\u53ef\u7528\u4f86\u62bc\u6ce8\u672a\u4f86\u5229\u7387\uff09\u3002\u82e5\u5e02\u5834\u628a\u9df9\u6d3e\u5b9a\u50f9\u8abf\u56de\u66f4\u6eab\u548c\uff0c\u9019\u4e9b\u90e8\u4f4d\u7684\u50f9\u503c\u901a\u5e38\u6703\u4e0a\u5347\u3002\n\n\u6211\u5011\u4e5f\u8a8d\u70ba\u82e5\u5e02\u5834\u6558\u4e8b\u5f9e\u901a\u81a8\u8f49\u5411\u66f4\u91cd\u8996\u6210\u9577\u98a8\u96aa\uff0c\u82f1\u938a\u53ef\u80fd\u8b8a\u5f97\u504f\u5f31\u3002\u8cb7\u5165 GBP\/USD \u7684\u8ce3\u6b0a\uff08put options\uff0c\u8ce3\u51fa\u9078\u64c7\u6b0a\uff1b\u7528\u4f86\u62bc\u6ce8\u4e0b\u8dcc\u6216\u7528\u4f5c\u4fdd\u96aa\uff09\u4e14\u5c65\u7d04\u50f9\uff08strike\uff0c\u7d04\u5b9a\u8cb7\u8ce3\u50f9\u683c\uff09\u5728 1.30 \u9644\u8fd1\uff0c\u53ef\u80fd\u662f\u4e00\u7a2e\u6210\u672c\u8f03\u53ef\u63a7\u7684\u505a\u6cd5\u3002\u540c\u6a23\u5730\uff0c\u8cb7\u5165 FTSE 250 \u6307\u6578\uff08\u82f1\u570b\u4e2d\u578b\u80a1\u6307\u6578\uff0c\u66f4\u8cbc\u8fd1\u82f1\u570b\u5167\u9700\uff09\u7684\u8ce3\u6b0a\uff0c\u53ef\u76f4\u63a5\u5c0d\u6c96\uff08hedge\uff0c\u7528\u4f86\u964d\u4f4e\u98a8\u96aa\uff09\u770b\u4f3c\u6b63\u5728\u767c\u751f\u7684\u82f1\u570b\u5167\u751f\u6210\u9577\u653e\u7de9\u98a8\u96aa\u3002\n<p>\n\n<p><strong>\u7acb\u5373\u958b\u59cb\u4ea4\u6613 &#8211; \u9ede\u64ca<a href=\"https:\/\/www.vtmarketsglobal.com\/trade-now\/\">\u9019\u88e1<\/a>\u5275\u5efa\u60a8\u7684 VT Markets \u771f\u5be6\u8cec\u6236 <\/strong> <\/p>\n<!-- \/wp:post-content -->","protected":false},"excerpt":{"rendered":"<p>\u82f1\u570b\u592e\u884c\u9df9\u6d3e\u8ac7\u8a71\u5f15\u7206\u5e02\u5834\uff1a\u7adf\u62bc2026\u7d2f\u8a08\u5347\u606f\u8fd185bps\u3002\u6cb9\u50f9\u9ad8\u6380\u505c\u6eef\u6027\u901a\u81a8\u3001PMI\u6050\u8f49\u5f31\uff0c\u5347\u606f\u9810\u671f\u6216\u56de\u5410\uff1b\u82f1\u938a\u504f\u5f31\uff0c\u5229\u7387\u6536\u56fa\u5b9a\u3001\u8cb7GBP\/USD\u8ce3\u6b0a\u53ef\u5e03\u5c40\u3002<\/p>\n","protected":false},"author":87,"featured_media":0,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[4],"tags":[],"class_list":["post-40738","post","type-post","status-publish","format-standard","hentry","category-live-updates"],"acf":{"acf_article_selection_author":null},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.vtmarkets.com\/zh-ca\/wp-json\/wp\/v2\/posts\/40738","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vtmarkets.com\/zh-ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vtmarkets.com\/zh-ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/zh-ca\/wp-json\/wp\/v2\/users\/87"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/zh-ca\/wp-json\/wp\/v2\/comments?post=40738"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/zh-ca\/wp-json\/wp\/v2\/posts\/40738\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/zh-ca\/wp-json\/wp\/v2\/media?parent=40738"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/zh-ca\/wp-json\/wp\/v2\/categories?post=40738"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/zh-ca\/wp-json\/wp\/v2\/tags?post=40738"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}