{"id":45301,"date":"2026-04-22T13:53:36","date_gmt":"2026-04-22T13:53:36","guid":{"rendered":"https:\/\/www.vtmarketsmy.com\/cn\/uncategorized\/%e5%be%b7%e5%9b%bd%e5%95%86%e4%b8%9a%e9%93%b6%e8%a1%8c%ef%bc%88commerzbank%ef%bc%89ghose%e7%a7%b0%ef%bc%8c%e5%b8%82%e5%9c%ba%e5%af%b9%e5%9c%9f%e8%80%b3%e5%85%b6%e5%a4%ae%e8%a1%8c%e9%a2%84%e6%9c%9f\/"},"modified":"2026-04-22T13:53:36","modified_gmt":"2026-04-22T13:53:36","slug":"%e5%be%b7%e5%9b%bd%e5%95%86%e4%b8%9a%e9%93%b6%e8%a1%8c%ef%bc%88commerzbank%ef%bc%89ghose%e7%a7%b0%ef%bc%8c%e5%b8%82%e5%9c%ba%e5%af%b9%e5%9c%9f%e8%80%b3%e5%85%b6%e5%a4%ae%e8%a1%8c%e9%a2%84%e6%9c%9f","status":"publish","type":"post","link":"https:\/\/www.vtmarketsmy.com\/cn\/live-updates\/%e5%be%b7%e5%9b%bd%e5%95%86%e4%b8%9a%e9%93%b6%e8%a1%8c%ef%bc%88commerzbank%ef%bc%89ghose%e7%a7%b0%ef%bc%8c%e5%b8%82%e5%9c%ba%e5%af%b9%e5%9c%9f%e8%80%b3%e5%85%b6%e5%a4%ae%e8%a1%8c%e9%a2%84%e6%9c%9f\/","title":{"rendered":"\u5fb7\u56fd\u5546\u4e1a\u94f6\u884c\uff08Commerzbank\uff09Ghose\u79f0\uff0c\u5e02\u573a\u5bf9\u571f\u8033\u5176\u592e\u884c\u9884\u671f\u5206\u6b67\uff1b\u82e5\u6309\u5175\u4e0d\u52a8\uff0c\u91cc\u62c9\u629b\u552e\u6050\u8fdb\u4e00\u6b65\u52a0\u5267"},"content":{"rendered":"<p>\u5e02\u573a\u5bf9\u571f\u8033\u5176\u592e\u884c\u4e0b\u4e00\u6b65\u52a8\u4f5c\u770b\u6cd5\u5206\u6b67\uff0c\u9884\u671f\u96c6\u4e2d\u5728\u4e24\u79cd\u53ef\u80fd\uff1a\u56de\u8d2d\u5229\u7387\uff08repo rate\uff0c\u592e\u884c\u7528\u6765\u5411\u5e02\u573a\u501f\u8d37\u3001\u5f71\u54cd\u6574\u4f53\u5229\u7387\u6c34\u5e73\u7684\u5173\u952e\u653f\u7b56\u5229\u7387\uff09\u4e0d\u53d8\uff0c\u6216\u4e0a\u8c03300\u4e2a\u57fa\u70b9\uff08bp\uff1b1\u4e2a\u57fa\u70b9=0.01%\uff0c300bp=3\u4e2a\u767e\u5206\u70b9\uff09\u3002\u6240\u8c13\u201c\u8d70\u5eca\u6536\u7d27\u201d\uff08corridor tightening\uff0c\u6307\u63d0\u9ad8\u592e\u884c\u5229\u7387\u8d70\u5eca\u5185\u7684\u8d44\u91d1\u6210\u672c\uff0c\u4f8b\u5982\u8ba9\u5e02\u573a\u66f4\u96be\u4ee5\u4f4e\u5229\u7387\u501f\u5230\u94b1\uff09\uff0c\u4e5f\u88ab\u5f62\u5bb9\u4e3a\u201c\u5b9e\u8d28\u6536\u7d27\u201d\u3002<\/p>\n<p>\u201c\u901a\u80c0\u964d\u6e29\u201d\uff08disinflation\uff0c\u901a\u80c0\u7387\u4e0b\u964d\u4f46\u7269\u4ef7\u4ecd\u5728\u4e0a\u6da8\uff09\u53d9\u4e8b\u88ab\u8ba4\u4e3a\u7f3a\u4e4f\u8bf4\u670d\u529b\uff0c\u901a\u80c0\u95ee\u9898\u636e\u79f0\u65e9\u4e8e\u672c\u8f6e\u7269\u4ef7\u51b2\u51fb\u5c31\u5df2\u5b58\u5728\u3002\u51b3\u7b56\u8005\u88ab\u63cf\u8ff0\u4e3a\u9884\u671f\u6cb9\u4ef7\u51b2\u51fb\uff08oil price shock\uff0c\u6cb9\u4ef7\u7a81\u7136\u5927\u5e45\u4e0a\u6da8\u5e26\u6765\u7684\u6210\u672c\u4e0a\u5347\uff09\u5c06\u5728\u672a\u6765\u51e0\u4e2a\u6708\u52a0\u5267\u60c5\u51b5\u3002<\/p>\n<h3>Inflation Pressures And Policy Credibility<\/h3>\n<p>\u5bf9\u5916\u6536\u652f\uff08external balances\uff0c\u5305\u542b\u7ecf\u5e38\u8d26\u6237\u7b49\u5bf9\u5916\u8d44\u91d1\u6d41\u5165\u6d41\u51fa\u72b6\u51b5\uff09\u88ab\u5f62\u5bb9\u4e3a\u6076\u5316\uff0c\u8fdb\u4e00\u6b65\u52a0\u5927\u571f\u8033\u5176\u91cc\u62c9\uff08TRY\uff09\u538b\u529b\u3002TRY\u6c47\u7387\u88ab\u63cf\u8ff0\u4e3a\u9ad8\u5ea6\u53d7\u7ba1\u7406\uff08heavily managed\uff0c\u5b98\u65b9\u901a\u8fc7\u5e72\u9884\u4e0e\u7ba1\u5236\u5f71\u54cd\u6c47\u7387\u8d70\u52bf\uff09\uff0c\u8fd9\u53ef\u80fd\u9650\u5236\u77ed\u671f\u6ce2\u52a8\u3002<\/p>\n<p>\u7f3a\u4e4f\u6536\u7d27\u88ab\u89c6\u4e3a\u98ce\u9669\u56e0\u7d20\uff0c\u53ef\u80fd\u5f15\u53d1\u91cc\u62c9\u66f4\u5267\u70c8\u7684\u629b\u552e\uff0c\u5e76\u63d0\u9ad8\u7a81\u7136\u8c03\u6574\uff08abrupt adjustment\uff0c\u6c47\u7387\u5728\u77ed\u65f6\u95f4\u5185\u5feb\u901f\u5927\u5e45\u4fee\u6b63\uff09\u7684\u6982\u7387\u3002\u9650\u5236\u6389\u671f\uff08swap\uff0c\u5e38\u89c1\u4e3a\u5916\u6c47\u4e92\u6362\uff0c\u7528\u4e8e\u878d\u8d44\u6216\u5bf9\u51b2\uff09\u655e\u53e3\uff0c\u6216\u8981\u6c42\u51fa\u53e3\u5546\u5c06\u5916\u5e01\u6536\u5165\u5356\u7ed9\u592e\u884c\u7b49\u63aa\u65bd\uff0c\u88ab\u63cf\u8ff0\u4e3a\u65e0\u6cd5\u66ff\u4ee3\u8d27\u5e01\u653f\u7b56\u884c\u52a8\uff08monetary policy action\uff0c\u4e3b\u8981\u6307\u52a0\u606f\u3001\u6536\u7d27\u6d41\u52a8\u6027\u7b49\u76f4\u63a5\u5f71\u54cd\u5229\u7387\u4e0e\u8d44\u91d1\u9762\u7684\u63aa\u65bd\uff09\u3002<\/p>\n<h3>Implications For The Lira And Volatility<\/h3>\n<p>\u5bf9\u884d\u751f\u54c1\u4ea4\u6613\u8005\uff08derivative traders\uff0c\u4ea4\u6613\u671f\u6743\u3001\u671f\u8d27\u7b49\u884d\u751f\u5de5\u5177\u7684\u53c2\u4e0e\u8005\uff09\u800c\u8a00\uff0c\u8fd9\u79cd\u201c\u4e8c\u9009\u4e00\u201d\u7ed3\u679c\u610f\u5473\u7740\u7f8e\u5143\/\u91cc\u62c9\uff08USD\/TRY\uff09\u6ce2\u52a8\u7387\uff08volatility\uff0c\u4ef7\u683c\u6ce2\u52a8\u5e45\u5ea6\uff09\u53ef\u80fd\u660e\u663e\u4e0a\u5347\u3002\u671f\u6743\u5e02\u573a\u7684\u9690\u542b\u6ce2\u52a8\u7387\uff08implied volatility\uff0c\u671f\u6743\u4ef7\u683c\u53cd\u6620\u7684\u5e02\u573a\u9884\u671f\u6ce2\u52a8\uff09\u5df2\u5904\u4e8e\u4e09\u4e2a\u6708\u9ad8\u4f4d\u3002\u53ef\u8003\u8651\u5e03\u5c40\u4e0d\u4f9d\u8d56\u65b9\u5411\u3001\u53ea\u8981\u51fa\u73b0\u5927\u5e45\u6ce2\u52a8\u5c31\u53ef\u80fd\u53d7\u76ca\u7684\u7b56\u7565\uff08\u4f8b\u5982\u540c\u65f6\u4e70\u5165\u770b\u6da8\u4e0e\u770b\u8dcc\u671f\u6743\u7684\u7ec4\u5408\uff0c\u7528\u4e8e\u62bc\u6ce8\u201c\u4f1a\u5927\u52a8\u201d\uff0c\u800c\u975e\u62bc\u6ce8\u65b9\u5411\uff09\u3002<\/p>\n<p>\u82e5\u6ca1\u6709\u663e\u8457\u653f\u7b56\u6536\u7d27\uff0c\u5c06\u62c5\u5fe7\u91cc\u62c9\u51fa\u73b0\u66f4\u5267\u70c8\u7684\u4e0b\u8dcc\u3002\u53d7\u7ba1\u7406\u7684\u6c47\u7387\u8fd1\u671f\u538b\u4f4e\u4e86\u6ce2\u52a8\uff0c\u4f46\u65e0\u6cd5\u89e3\u51b3\u6839\u672c\u5931\u8861\u95ee\u9898\u3002\u82e5\u653f\u7b56\u7ee7\u7eed\u4e0d\u4f5c\u4e3a\uff0c\u6c47\u7387\u66f4\u53ef\u80fd\u51fa\u73b0\u66f4\u6025\u3001\u66f4\u65e0\u5e8f\u7684\u8c03\u6574\u3002<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u571f\u8033\u5176\u592e\u884c\u51b3\u7b56\u6210\u5e02\u573a\u201c\u4e8c\u9009\u4e00\u201d\uff1a\u5229\u7387\u4e0d\u53d8\u6216\u52a0300bp\u3002\u901a\u80c0\u4e0e\u5916\u90e8\u5931\u8861\u524a\u5f31\u516c\u4fe1\u529b\uff0c\u91cc\u62c9\u538b\u529b\u589e\u3002\u82e5\u4e0d\u6536\u7d27\uff0cUSD\/TRY\u6216\u8fce\u66f4\u5927\u6ce2\u52a8\u4e0e\u6025\u8dcc\u3002<\/p>\n","protected":false},"author":12,"featured_media":0,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[129],"tags":[],"class_list":["post-45301","post","type-post","status-publish","format-standard","hentry","category-live-updates"],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.vtmarketsmy.com\/cn\/wp-json\/wp\/v2\/posts\/45301","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vtmarketsmy.com\/cn\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vtmarketsmy.com\/cn\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vtmarketsmy.com\/cn\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtmarketsmy.com\/cn\/wp-json\/wp\/v2\/comments?post=45301"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarketsmy.com\/cn\/wp-json\/wp\/v2\/posts\/45301\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarketsmy.com\/cn\/wp-json\/wp\/v2\/media?parent=45301"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarketsmy.com\/cn\/wp-json\/wp\/v2\/categories?post=45301"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarketsmy.com\/cn\/wp-json\/wp\/v2\/tags?post=45301"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}