{"id":44367,"date":"2026-04-10T16:52:26","date_gmt":"2026-04-10T16:52:26","guid":{"rendered":"https:\/\/www.vtmarketsmy.com\/cn\/uncategorized\/ing%e7%bb%8f%e6%b5%8e%e5%ad%a6%e5%ae%b6%e9%a2%84%e8%ae%a1%e6%b3%a2%e5%85%b0%e5%a4%ae%e8%a1%8c%e5%b0%86%e6%8a%8a%e5%88%a9%e7%8e%87%e7%bb%b4%e6%8c%81%e5%9c%a83-75%ef%bc%8c%e6%9c%89%e5%8a%a9%e7%bb%b4\/"},"modified":"2026-04-10T16:52:26","modified_gmt":"2026-04-10T16:52:26","slug":"ing%e7%bb%8f%e6%b5%8e%e5%ad%a6%e5%ae%b6%e9%a2%84%e8%ae%a1%e6%b3%a2%e5%85%b0%e5%a4%ae%e8%a1%8c%e5%b0%86%e6%8a%8a%e5%88%a9%e7%8e%87%e7%bb%b4%e6%8c%81%e5%9c%a83-75%ef%bc%8c%e6%9c%89%e5%8a%a9%e7%bb%b4","status":"publish","type":"post","link":"https:\/\/www.vtmarketsmy.com\/cn\/live-updates\/ing%e7%bb%8f%e6%b5%8e%e5%ad%a6%e5%ae%b6%e9%a2%84%e8%ae%a1%e6%b3%a2%e5%85%b0%e5%a4%ae%e8%a1%8c%e5%b0%86%e6%8a%8a%e5%88%a9%e7%8e%87%e7%bb%b4%e6%8c%81%e5%9c%a83-75%ef%bc%8c%e6%9c%89%e5%8a%a9%e7%bb%b4\/","title":{"rendered":"ING\u7ecf\u6d4e\u5b66\u5bb6\u9884\u8ba1\u6ce2\u5170\u592e\u884c\u5c06\u628a\u5229\u7387\u7ef4\u6301\u57283.75%\uff0c\u6709\u52a9\u7ef4\u6301\u5179\u7f57\u63d0\u6c47\u7387\u7a33\u5b9a\u72b6\u6001"},"content":{"rendered":"

ING\u7ecf\u6d4e\u5b66\u5bb6\u9884\u8ba1\uff0c\u6ce2\u5170\u56fd\u5bb6\u94f6\u884c\uff08NBP\uff0cPoland\u2019s central bank\uff09\u57284\u6708\u8d27\u5e01\u653f\u7b56\u59d4\u5458\u4f1a\uff08MPC\uff0c\u8d1f\u8d23\u51b3\u5b9a\u5229\u7387\u7684\u51b3\u7b56\u673a\u6784\uff09\u4f1a\u8bae\u540e\uff0c\u5c06\u7ef4\u6301\u5229\u7387\u4e0d\u53d8\uff0c\u57fa\u51c6\u5229\u7387\uff08reference rate\uff0c\u592e\u884c\u4e3b\u8981\u653f\u7b56\u5229\u7387\uff09\u7ee7\u7eed\u4fdd\u6301\u57283.75%\u3002\u59d4\u5458\u4f1a\u57283\u6708\u66fe\u4e0b\u8c03\u5229\u738725\u4e2a\u57fa\u70b9\uff08bp\uff0c\u57fa\u70b9\uff1b1bp=0.01\u4e2a\u767e\u5206\u70b9\uff0c\u537325bp=0.25\u4e2a\u767e\u5206\u70b9\uff09\uff0c4\u6708\u5219\u6309\u5175\u4e0d\u52a8\u3002<\/p>\n

4\u6708\u58f0\u660e\u7b80\u77ed\u4e14\u504f\u4e2d\u6027\uff0c\u5e76\u628a\u5168\u7403\u71c3\u6cb9\u4ef7\u683c\u4e0a\u6da8\u5f52\u56e0\u4e8e\u4f9b\u5e94\u53d7\u9650\uff08supply constraints\uff0c\u4f9b\u7ed9\u7aef\u53d7\u963b\u5bfc\u81f4\u4f9b\u8d27\u51cf\u5c11\uff09\uff0c\u800c\u8fd9\u4e9b\u9650\u5236\u4e0e\u4e2d\u4e1c\u51b2\u7a81\u6709\u5173\u3002\u5e02\u573a\u9884\u8ba1\u59d4\u5458\u4f1a\u5c06\u91c7\u53d6\u201c\u89c2\u671b\u201d\uff08wait-and-see\uff0c\u5148\u4e0d\u884c\u52a8\u3001\u7b49\u5f85\u66f4\u591a\u6570\u636e\uff09\u7684\u505a\u6cd5\uff0c\u4f9d\u636e\u540e\u7eed\u6570\u636e\u4ee5\u53ca\u5730\u7f18\u653f\u6cbb\uff08geopolitics\uff0c\u56fd\u9645\u51b2\u7a81\u4e0e\u653f\u5c40\u53d8\u5316\uff09\u548c\u5927\u5b97\u5546\u54c1\uff08commodities\uff0c\u6cb9\u6c14\u7b49\u539f\u6750\u6599\uff09\u5bf9\u901a\u80c0\u4e0e\u7ecf\u6d4e\u589e\u957f\u7684\u5f71\u54cd\u518d\u51b3\u5b9a\u4e0b\u4e00\u6b65\u3002<\/p>\n

\u901a\u80c0\u63a8\u52a8\u56e0\u7d20\u4e0e\u653f\u7b56\u4fe1\u53f7<\/h3>\n

NBP\u884c\u957f\u8868\u793a\uff0c\u77ed\u671f\u901a\u80c0\u5c06\u53d6\u51b3\u4e8e\u80fd\u6e90\u7c7b\u5927\u5b97\u5546\u54c1\u4ef7\u683c\uff08energy commodity prices\uff0c\u5982\u539f\u6cb9\u4e0e\u5929\u7136\u6c14\uff09\uff0c\u4ee5\u53ca\u56fd\u5185\u7a0e\u6536\u4e0e\u76d1\u7ba1\u51b3\u5b9a\uff0c\u5305\u62ec\u71c3\u6cb9\u7684\u6d88\u8d39\u7a0e\uff08excise duty\uff0c\u5bf9\u7279\u5b9a\u5546\u54c1\u5f81\u6536\u7684\u7a0e\uff09\u4e0e\u589e\u503c\u7a0e\uff08VAT\uff0c\u6d88\u8d39\u73af\u8282\u5f81\u7a0e\u7684\u4e00\u822c\u7a0e\u79cd\uff09\u3002\u59d4\u5458\u4f1a\u4e5f\u5c06\u5173\u6ce8\u71c3\u6cb9\u6210\u672c\u4e0a\u5347\u5982\u4f55\u5411\u5176\u4ed6\u5546\u54c1\u4e0e\u670d\u52a1\u4ef7\u683c\u4f20\u5bfc\uff08pass-through\uff0c\u6210\u672c\u4e0a\u5347\u5e26\u52a8\u7ec8\u7aef\u4ef7\u683c\u4e0a\u6da8\uff09\u3002<\/p>\n

\u672a\u6765\u653f\u7b56\u9884\u8ba1\u53d6\u51b3\u4e8e\u5927\u5b97\u5546\u54c1\u4ef7\u683c\u3001\u5730\u7f18\u653f\u6cbb\u3001\u8d22\u653f\u653f\u7b56\uff08fiscal policy\uff0c\u653f\u5e9c\u652f\u51fa\u4e0e\u7a0e\u6536\u5b89\u6392\uff09\u3001\u71c3\u6cb9\u4ef7\u683c\u89c4\u5219\u3001GDP\u53d8\u5316\u4e0e\u5de5\u8d44\u8d70\u52bf\uff08wage dynamics\uff0c\u85aa\u8d44\u589e\u901f\u4e0e\u7ed3\u6784\u53d8\u5316\uff09\u3002ING\u7684\u57fa\u51c6\u60c5\u666f\u5047\u8bbe\u201c\u4f4e\u71c3\u6cb9\u4ef7\u683c\u8ba1\u5212\u201d\uff08Lower Fuel Prices programme\uff0cCPN\uff1b\u901a\u8fc7\u653f\u7b56\u5e72\u9884\u538b\u4f4e\u71c3\u6cb9\u4ef7\u683c\u7684\u63aa\u65bd\uff09\u6301\u7eed\u52307\u6708\u5e95\uff0c\u5168\u5e74\u5e73\u5747\u901a\u80c0\u4e3a3.2%\uff0c\u9ad8\u4e8e\u6ce2\u65af\u6e7e\u6218\u4e89\u524d\u7ea62%\u4ee5\u53caNBP\u57283\u6708\u9884\u6d4b\u76842.3%\u3002<\/p>\n

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