{"id":43760,"date":"2026-03-30T19:42:37","date_gmt":"2026-03-30T19:42:37","guid":{"rendered":"https:\/\/www.vtmarkets.com\/uncategorized\/43760\/"},"modified":"2026-03-30T19:42:37","modified_gmt":"2026-03-30T19:42:37","slug":"%e9%81%93%e6%98%8e%e8%ad%89%e5%88%b8%e9%a0%90%e6%9c%9f%e5%8a%a0%e6%8b%bf%e5%a4%a7%e5%a4%ae%e8%a1%8c%e6%9c%83%e8%ad%b0%e7%b4%80%e8%a6%81%e5%b0%87%e5%81%8f%e9%b4%bf%ef%bc%8c%e5%bc%b7%e8%aa%bf%e9%9c%80","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/zh\/live-updates\/43760\/","title":{"rendered":"\u9053\u660e\u8b49\u5238\u9810\u671f\u52a0\u62ff\u5927\u592e\u884c\u6703\u8b70\u7d00\u8981\u5c07\u504f\u9d3f\uff0c\u5f37\u8abf\u9700\u6c42\u75b2\u5f31\u8207\u901a\u81a8\u58d3\u529b\u8da8\u7de9"},"content":{"rendered":"TD \u8b49\u5238\u9810\u671f\uff0c\u52a0\u62ff\u5927\u592e\u884c\uff08Bank of Canada\uff093 \u6708\u767c\u5e03\u7684\u300a\u8b70\u606f\u5167\u5bb9\u6458\u8981\u300b\uff08Summary of Deliberations\uff0c\u6307\u592e\u884c\u5728\u5229\u7387\u6c7a\u7b56\u6703\u8b70\u5f8c\u6574\u7406\u7684\u8a0e\u8ad6\u91cd\u9ede\uff09\u5c07\u7dad\u6301\u504f\u5411\u5bec\u9b06\uff08dovish\uff0c\u610f\u6307\u50be\u5411\u964d\u606f\u6216\u7dad\u6301\u4f4e\u5229\u7387\uff09\u7684\u8a9e\u6c23\uff0c\u91cd\u9ede\u653e\u5728\u570b\u5167\u666f\u6c23\u8f49\u5f31\uff0c\u4ee5\u53ca\u901a\u81a8\u6301\u7e8c\u964d\u6eab\uff08disinflation\uff0c\u6307\u901a\u81a8\u7387\u4e0b\u964d\u3001\u4f46\u50f9\u683c\u672a\u5fc5\u4e0b\u8dcc\uff09\u3002\u5831\u544a\u4e5f\u6307\u51fa\uff0c\u592e\u884c\u5728\u77ed\u671f\u5167\u53ef\u5f48\u6027\u770b\u5f85\u8fd1\u671f\u8f03\u5f37\u7684\u6574\u9ad4\u901a\u81a8\u6578\u64da\uff08headline inflation\uff0c\u6307\u5305\u542b\u80fd\u6e90\u8207\u98df\u54c1\u7b49\u6ce2\u52d5\u8f03\u5927\u7684\u6574\u9ad4 CPI\uff09\u3002\n\n\u8a55\u8ad6\u8868\u793a\uff0c\u4e0d\u78ba\u5b9a\u6027\u4ecd\u7136\u504f\u9ad8\uff0c\u800c\u4e14\u76ee\u524d\u7d93\u6fdf\u7684\u9592\u7f6e\u7522\u80fd\uff08excess supply\uff0c\u6307\u9700\u6c42\u4e0d\u8db3\u3001\u7522\u80fd\u6216\u52de\u52d5\u529b\u672a\u88ab\u5145\u5206\u4f7f\u7528\uff09\u6bd4\u592e\u884c 1 \u6708\u9810\u6e2c\u7684\u9084\u591a\u3002\u5831\u544a\u4e5f\u63d0\u5230\uff0c\u5728 CPI-trim \u8207 CPI-median\uff08\u592e\u884c\u504f\u597d\u7684\u6838\u5fc3\u901a\u81a8\u6307\u6a19\uff1a\u900f\u904e\u5254\u9664\u6975\u7aef\u8b8a\u52d5\u9805\u76ee\u6216\u53d6\u4e2d\u4f4d\u6578\uff0c\u8f03\u80fd\u53cd\u6620\u901a\u81a8\u8da8\u52e2\uff09\u8fd1\u671f\u653e\u6162\u5f8c\uff0c\u901a\u81a8\u58d3\u529b\u5df2\u4e0d\u518d\u90a3\u9ebc\u666e\u904d\u3002\n\n<h3>\u524d\u7aef\u6ce2\u52d5\u5ea6\u8ce3\u51fa<\/h3>\n\u5e02\u5834\u5c07\u95dc\u6ce8\u592e\u884c\u662f\u5426\u8a0e\u8ad6\u77ed\u671f\u5229\u7387\u8def\u5f91\uff08near-term rate path\uff0c\u6307\u672a\u4f86\u4e00\u6bb5\u6642\u9593\u653f\u7b56\u5229\u7387\u53ef\u80fd\u600e\u9ebc\u8d70\uff09\u7684\u98a8\u96aa\uff0c\u4ee5\u53ca\u592e\u884c\u9700\u8981\u591a\u4e45\u624d\u80fd\u5224\u65b7\u9ad8\u80fd\u6e90\u50f9\u683c\u662f\u5426\u6703\u6301\u7e8c\u3002\u6587\u4e2d\u89c0\u9ede\u8a8d\u70ba\uff0c\u5bec\u9b06\u5faa\u74b0\uff08easing cycle\uff0c\u6307\u4e00\u6bb5\u964d\u606f\u6216\u653e\u5bec\u653f\u7b56\u7684\u671f\u9593\uff09\u5df2\u7d93\u7d50\u675f\u3002\n\n\u9810\u6e2c\u662f\u592e\u884c\u5c07\u628a\u9694\u591c\u5229\u7387\uff08overnight rate\uff0c\u592e\u884c\u7684\u653f\u7b56\u5229\u7387\u57fa\u6e96\uff09\u7dad\u6301\u5728 2.25% \u76f4\u5230 2026 \u5e74\u3002\u56de\u5230\u4e2d\u6027\u5229\u7387\uff08neutral\uff0c\u6307\u65e2\u4e0d\u523a\u6fc0\u4e5f\u4e0d\u6291\u5236\u7d93\u6fdf\u7684\u5229\u7387\u6c34\u6e96\uff09\u9644\u8fd1\u7684\u6642\u9593\u9ede\uff0c\u9810\u4f30\u5728 2027 \u5e74\u521d\u3002\n\n<h3>\u4f4e\u6ce2\u52d5\u5229\u7387\u7b56\u7565<\/h3>\n\u4e0d\u8a72\u88ab\u8fd1\u671f\u6574\u9ad4\u901a\u81a8\u4e0a\u5347\u6240\u8ff7\u60d1\uff0c\u52a0\u62ff\u5927\u592e\u884c\u4e5f\u4e0d\u6703\u30022 \u6708\u6574\u9ad4 CPI\uff08\u6d88\u8cbb\u8005\u7269\u50f9\u6307\u6578\uff09\u5347\u81f3 2.9%\uff0c\u4e3b\u8981\u7531\u80fd\u6e90\u50f9\u683c\u5e36\u52d5\uff0c\u4f46\u592e\u884c\u504f\u597d\u7684\u6838\u5fc3\u6307\u6a19\u5e73\u5747\u53ea\u6709 2.4%\u3002\u9019\u8b93\u592e\u884c\u80fd\u63a1\u53d6\u89c0\u671b\uff08wait and see\uff09\uff0c\u56e0\u6b64\u62bc\u6ce8\u77ed\u671f\u5347\u606f\u5f88\u53ef\u80fd\u6703\u5931\u5229\u3002\n\n\u9019\u7a2e\u74b0\u5883\u9069\u5408\u5f9e\u77ed\u671f\u5229\u7387\u4f4e\u6ce2\u52d5\u4e2d\u7372\u5229\u7684\u7b56\u7565\u3002\u8ce3\u51fa\u8fd1\u6708\u7684\u9280\u884c\u627f\u514c\u532f\u7968\u671f\u8ca8\uff08Bankers&#8217; Acceptance futures\uff0cBAX\uff0c\u77ed\u671f\u5229\u7387\u671f\u8ca8\uff09\u6216 CORRA \u671f\u8ca8\u5408\u7d04\uff08\u4ee5\u52a0\u62ff\u5927\u9694\u591c\u56de\u8cfc\u5229\u7387 CORRA \u70ba\u57fa\u790e\u7684\u5229\u7387\u671f\u8ca8\uff09\u4e0a\u7684\u9078\u64c7\u6b0a\uff08options\uff0c\u7d66\u4e88\u8cb7\u8ce3\u6b0a\u5229\u3001\u975e\u7fa9\u52d9\u7684\u884d\u751f\u5de5\u5177\uff09\u53ef\u80fd\u8f03\u6709\u5229\u3002\u592e\u884c\u660e\u78ba\u60f3\u7dad\u6301\u5229\u7387\u4e0d\u8b8a\uff0c\u61c9\u6703\u58d3\u4f4e\u6b96\u5229\u7387\u66f2\u7dda\u524d\u7aef\uff08front end of the yield curve\uff0c\u6307\u77ed\u5929\u671f\u5229\u7387\uff09\u7684\u5287\u70c8\u6ce2\u52d5\u3002\n\n\u592e\u884c\u4fdd\u6301\u8010\u5fc3\u7684\u7406\u7531\uff0c\u4e5f\u88ab\u6700\u65b0\u6578\u64da\u652f\u6301\u30021 \u6708 GDP\uff08\u570b\u5167\u751f\u7522\u6bdb\u984d\uff09\u5c0f\u5e45\u840e\u7e2e 0.1%\uff0c2 \u6708\u52de\u52d5\u529b\u8abf\u67e5\uff08Labour Force Survey\uff09\u986f\u793a\u5931\u696d\u7387\u518d\u5347\u81f3 6.3%\u3002\u9019\u78ba\u8a8d\u7d93\u6fdf\u7684\u9592\u7f6e\u7522\u80fd\u6bd4\u5148\u524d\u60f3\u7684\u66f4\u591a\uff0c\u964d\u4f4e\u4e86\u5347\u606f\u7684\u8feb\u5207\u6027\u3002\n\n\u5c0d\u5916\u532f\u4ea4\u6613\u8005\u800c\u8a00\uff0c\u9019\u4ee3\u8868\u52a0\u5e63\uff08Canadian dollar\uff09\u53ef\u80fd\u4e0d\u6613\u8d70\u5f37\u3002\u7576\u52a0\u62ff\u5927\u592e\u884c\u5805\u6301\u6309\u5175\u4e0d\u52d5\uff0c\u800c\u5176\u4ed6\u592e\u884c\u53ef\u80fd\u601d\u8003\u4e0b\u4e00\u6b65\u6642\uff0c\u5229\u5dee\uff08interest rate differential\uff0c\u6307\u4e0d\u540c\u570b\u5bb6\u5229\u7387\u5dee\u8ddd\uff09\u5c0d\u52a0\u5e63\u4e0d\u5229\u3002\u52a0\u5e63\u82e5\u53cd\u5f48\uff0c\u61c9\u8996\u70ba\u8ce3\u51fa\u6a5f\u6703\u3002\n\n\u56de\u9867\u904e\u53bb\uff0c\u592e\u884c\u5728 2025 \u5e74\u666f\u6c23\u653e\u7de9\u671f\u9593\u591a\u6b21\u964d\u606f\u624d\u5230\u4eca\u5929\u7684\u5229\u7387\u6c34\u6e96\u3002\u7d93\u6b77\u4e00\u6bb5\u660e\u986f\u7684\u5bec\u9b06\u5faa\u74b0\u5f8c\uff0c\u9577\u6642\u9593\u66ab\u505c\u4ee5\u8a55\u4f30\u653f\u7b56\u6548\u679c\uff0c\u662f\u5e38\u898b\u4f5c\u6cd5\uff0c\u9810\u8a08\u9084\u6703\u6301\u7e8c\u597d\u5e7e\u500b\u6708\u3002\n\n<b><a href=\"https:\/\/www.vtmarkets.com\/trade-now\/\">\u5efa\u7acb\u4f60\u7684 VT Markets \u5be6\u76e4\u5e33\u6236<\/a>\u00a0\u4e26\u7acb\u5373\u00a0<a href=\"https:\/\/myaccount.vtmarkets.com\/login\">\u958b\u59cb\u4ea4\u6613<\/a>\u3002 <\/b>\n<p>\n\n<p><strong>\u7acb\u5373\u958b\u59cb\u4ea4\u6613 &#8211; \u9ede\u64ca<a href=\"https:\/\/www.vtmarkets.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>\u5225\u88ab\u77ed\u671f\u901a\u81a8\u53cd\u5f48\u9a19\u4e86\uff01TD\u4f30\u52a0\u62ff\u5927\u592e\u884c\u4ecd\u504f\u9d3f\uff1a\u666f\u6c23\u8f49\u5f31\u3001\u6838\u5fc3\u964d\u6eab\u3001\u4f9b\u7d66\u904e\u5269\u66f4\u591a\uff1b\u9694\u591c\u5229\u73872.25%\u7dad\u6301\u81f32026\uff0c\u524d\u7aef\u6ce2\u52d5\u964d\uff0c\u77ed\u7387\u9078\u64c7\u6b0a\u8ce3\u65b9\u5360\u512a\uff0c\u52a0\u5e63\u53cd\u5f48\u53ef\u8ce3\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-43760","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\/wp-json\/wp\/v2\/posts\/43760","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vtmarkets.com\/zh\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vtmarkets.com\/zh\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/zh\/wp-json\/wp\/v2\/users\/87"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/zh\/wp-json\/wp\/v2\/comments?post=43760"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/zh\/wp-json\/wp\/v2\/posts\/43760\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/zh\/wp-json\/wp\/v2\/media?parent=43760"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/zh\/wp-json\/wp\/v2\/categories?post=43760"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/zh\/wp-json\/wp\/v2\/tags?post=43760"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}