{"id":32165,"date":"2026-03-25T15:50:33","date_gmt":"2026-03-25T15:50:33","guid":{"rendered":"https:\/\/www.vtmarketsmy.com\/cn\/uncategorized\/%e6%8b%89%e5%8a%a0%e5%be%b7%e7%a7%b0%e6%ac%a7%e6%b4%b2%e5%a4%ae%e8%a1%8c%e6%ad%a3%e7%9b%91%e6%b5%8b%e4%b8%ad%e4%b8%9c%e8%83%bd%e6%ba%90%e5%86%b2%e5%87%bb%ef%bc%8c%e8%a1%8c%e5%8a%a8%e5%89%8d%e5%b0%86\/"},"modified":"2026-03-25T15:50:33","modified_gmt":"2026-03-25T15:50:33","slug":"%e6%8b%89%e5%8a%a0%e5%be%b7%e7%a7%b0%e6%ac%a7%e6%b4%b2%e5%a4%ae%e8%a1%8c%e6%ad%a3%e7%9b%91%e6%b5%8b%e4%b8%ad%e4%b8%9c%e8%83%bd%e6%ba%90%e5%86%b2%e5%87%bb%ef%bc%8c%e8%a1%8c%e5%8a%a8%e5%89%8d%e5%b0%86","status":"publish","type":"post","link":"https:\/\/www.vtmarketsmy.com\/cn\/live-updates\/%e6%8b%89%e5%8a%a0%e5%be%b7%e7%a7%b0%e6%ac%a7%e6%b4%b2%e5%a4%ae%e8%a1%8c%e6%ad%a3%e7%9b%91%e6%b5%8b%e4%b8%ad%e4%b8%9c%e8%83%bd%e6%ba%90%e5%86%b2%e5%87%bb%ef%bc%8c%e8%a1%8c%e5%8a%a8%e5%89%8d%e5%b0%86\/","title":{"rendered":"\u62c9\u52a0\u5fb7\u79f0\u6b27\u6d32\u592e\u884c\u6b63\u76d1\u6d4b\u4e2d\u4e1c\u80fd\u6e90\u51b2\u51fb\uff0c\u884c\u52a8\u524d\u5c06\u8ffd\u8e2a\u5de5\u8d44\u4e0e\u901a\u80c0\u9884\u671f"},"content":{"rendered":"\u6b27\u6d32\u592e\u884c\u6b63\u5728\u8bc4\u4f30\u4e2d\u4e1c\u51b2\u7a81\u53ef\u80fd\u5982\u4f55\u5f71\u54cd\u901a\u80c0\uff0c\u91cd\u70b9\u5173\u6ce8\u80fd\u6e90\u4ef7\u683c\u51b2\u51fb\u662f\u5426\u4f1a\u5f15\u53d1\u201c\u7b2c\u4e8c\u8f6e\u6548\u5e94\u201d\uff08\u6307\u6cb9\u4ef7\u7b49\u6210\u672c\u4e0a\u5347\u540e\uff0c\u8fdb\u4e00\u6b65\u63a8\u9ad8\u5de5\u8d44\u4e0e\u5176\u4ed6\u5546\u54c1\u670d\u52a1\u4ef7\u683c\uff0c\u5bfc\u81f4\u66f4\u5e7f\u6cdb\u3001\u6301\u7eed\u7684\u901a\u80c0\uff09\u3002\u6b27\u6d32\u592e\u884c\u884c\u957f\u62c9\u52a0\u5fb7\u5728\u201c\u6b27\u6d32\u592e\u884c\u53ca\u5176\u89c2\u5bdf\u8005\u201d\u4f1a\u8bae\u4e0a\u9610\u8ff0\u4e86\u8fd9\u4e00\u505a\u6cd5\u3002\n\n\u7ba1\u7406\u59d4\u5458\u4f1a\u6b63\u76d1\u6d4b\u4e00\u4e9b\u6307\u6807\uff0c\u4f8b\u5982\u4f01\u4e1a\u5bf9\u672a\u6765\u9500\u552e\u4ef7\u683c\u7684\u9884\u671f\uff0c\u4ee5\u53ca\u201c\u5de5\u8d44\u8ffd\u8e2a\u6307\u6807\u201d\uff08\u7528\u6765\u8ddf\u8e2a\u5de5\u8d44\u589e\u901f\u7684\u7edf\u8ba1\u4e0e\u6a21\u578b\u6307\u6807\uff09\u3002\u76ee\u7684\u5728\u4e8e\u5224\u65ad\u4ef7\u683c\u538b\u529b\u4f1a\u4e0d\u4f1a\u4ece\u80fd\u6e90\u6269\u6563\u5230\u66f4\u5e7f\u6cdb\u7684\u901a\u80c0\u3002\n\n<h3>\u76d1\u6d4b\u7b2c\u4e8c\u8f6e\u6548\u5e94<\/h3>\n\u5982\u679c\u901a\u80c0\u957f\u671f\u3001\u6301\u7eed\u504f\u79bb\u6b27\u6d32\u592e\u884c\u7684\u76ee\u6807\uff08\u4e00\u822c\u63072%\uff09\uff0c\u8d27\u5e01\u653f\u7b56\uff08\u4e3b\u8981\u662f\u5229\u7387\uff09\u53ef\u80fd\u4f1a\u66f4\u5f3a\u786c\u5730\u53cd\u5e94\u3002\u6309\u6587\u4e2d\u6761\u4ef6\u5224\u65ad\uff0c\u77ed\u671f\u5185\u9884\u8ba1\u4e0d\u4f1a\u52a0\u606f\u3002\n\nTD 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inflation\uff0c\u5305\u542b\u80fd\u6e90\u4e0e\u98df\u54c1\u7b49\u6ce2\u52a8\u8f83\u5927\u7684\u9879\u76ee\uff09\u56e0\u6cb9\u4ef7\u5f98\u5f8a\u5728\u6bcf\u687695\u7f8e\u5143\u9644\u8fd1\u800c\u56de\u5347\u81f32.8%\uff0c\u4f46\u6838\u5fc3\u901a\u80c0\uff08core inflation\uff0c\u5254\u9664\u80fd\u6e90\u4e0e\u98df\u54c1\u7b49\u6ce2\u52a8\u9879\uff0c\u66f4\u80fd\u53cd\u6620\u957f\u671f\u8d8b\u52bf\uff09\u964d\u6e29\u81f32.5%\u3002\u66f4\u5173\u952e\u7684\u662f\uff0c2025\u5e74\u7b2c\u56db\u5b63\u201c\u8c08\u5224\u5de5\u8d44\u589e\u957f\u201d\uff08negotiated wage 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calls\uff0c\u884c\u6743\u4ef7\u9ad8\u4e8e\u5f53\u524d\u4ef7\u683c\u7684\u770b\u6da8\u671f\u6743\uff0c\u5356\u51fa\u53ef\u6536\u53d6\u6743\u5229\u91d1\uff0c\u4f46\u9700\u627f\u62c5\u4ef7\u683c\u5927\u6da8\u98ce\u9669\uff09\u3002\n\n\u6b27\u6d32\u592e\u884c\u5bf9\u5f85\u8fd9\u6b21\u80fd\u6e90\u51b2\u51fb\u7684\u65b9\u5f0f\uff0c\u4e0e2022\u5e74\u90a3\u6b21\u4e0d\u540c\u3002\u5176\u66f4\u91cd\u89c6\u201c\u57fa\u7840\u901a\u80c0\u201d\uff08underlying 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