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\u83f2\u5f8b\u5bbe\u4e2d\u592e\u94f6\u884c\uff08Bangko Sentral ng Pilipinas\uff0cBSP\uff09\u57284\u670823\u65e5\u628a\u9694\u591c\u53cd\u5411\u56de\u8d2d\u5229\u7387\uff08Target Reverse Repurchase\uff0cRRP\uff1b\u592e\u884c\u7684\u4e3b\u8981\u653f\u7b56\u5229\u7387\uff0c\u7528\u6765\u5f71\u54cd\u5e02\u573a\u5229\u7387\uff09\u4e0a\u8c03\u81f34.50%\uff0c\u5e76\u6697\u793a\u672a\u6765\u53ef\u80fd\u7ee7\u7eed\u52a0\u606f\u3002\u5927\u534e\u94f6\u884c\uff08UOB\uff09\u9884\u8ba1\uff0c\u653f\u7b56\u5229\u7387\u5c06\u57282026\u5e74\u5e95\u8fbe\u52305.00%\uff0c\u5206\u522b\u57282026\u5e746\u6708\u53ca2026\u5e74\u7b2c\u4e09\u5b63\u5404\u52a0\u606f25\u4e2a\u57fa\u70b9\uff08bps\uff1b1\u4e2a\u57fa\u70b9=0.01\u4e2a\u767e\u5206\u70b9\uff09\u3002<\/p>\n

BSP\u8868\u793a\uff0c\u6b64\u4e3e\u65e8\u5728\u7a33\u5b9a\u901a\u80c0\u9884\u671f\uff08\u5e02\u573a\u5bf9\u672a\u6765\u7269\u4ef7\u7684\u770b\u6cd5\uff09\uff0c\u5e76\u9650\u5236\u7b2c\u4e8c\u8f6e\u6548\u5e94\uff08\u4f01\u4e1a\u628a\u6210\u672c\u4e0a\u5347\u8f6c\u5ac1\u5230\u552e\u4ef7\u3001\u5458\u5de5\u8981\u6c42\u52a0\u85aa\u540e\u518d\u63a8\u9ad8\u6210\u672c\uff0c\u5bfc\u81f4\u901a\u80c0\u5faa\u73af\uff09\u3002BSP\u4e5f\u5f3a\u8c03\uff0c\u7d27\u7f29\uff08\u6536\u7d27\u8d27\u5e01\u653f\u7b56\uff0c\u901a\u5e38\u6307\u52a0\u606f\u6216\u51cf\u5c11\u6d41\u52a8\u6027\uff09\u4f1a\u5faa\u5e8f\u6e10\u8fdb\uff0c\u5e76\u4ee5\u6570\u636e\u4e3a\u4f9d\u636e\uff0c\u540c\u65f6\u8ba9\u901a\u80c0\u56de\u52303.0%\u76ee\u6807\u9644\u8fd1\u3002<\/p>\n

\u901a\u80c0\u5c55\u671b\u4e0e\u653f\u7b56\u8def\u5f84<\/h3>\n

BSP\u9884\u6d4b\uff0c2026\u5e74\u4e0e2027\u5e74\u7684\u6574\u4f53\u901a\u80c0\uff08headline inflation\uff1b\u5305\u542b\u6240\u6709\u9879\u76ee\u7684\u7269\u4ef7\u6307\u6570\uff09\u5c06\u9ad8\u4e8e4%\u7684\u4e0a\u9650\u3002BSP\u6700\u65b0\u9884\u8ba12026\u5e74\u901a\u80c0\u4e3a6.3%\uff083\u6708\u65f6\u4e3a5.1%\uff1bUOB\u4f30\u8ba15.5%\uff09\uff0c2027\u5e74\u901a\u80c0\u4e3a4.3%\uff08\u6b64\u524d\u4e3a3.8%\uff1bUOB\u4f30\u8ba13.5%\uff09\u3002<\/p>\n

\u4e0d\u542b\u98df\u54c1\u4e0e\u80fd\u6e90\u7684\u6838\u5fc3\u901a\u80c0\uff08core inflation\uff1b\u8f83\u80fd\u53cd\u6620\u957f\u671f\u7269\u4ef7\u8d8b\u52bf\uff09\u4e5f\u9884\u8ba1\u4e0a\u5347\u5e76\u903c\u8fd14%\u4e0a\u9650\u3002\u6587\u4e2d\u628a\u901a\u80c0\u524d\u666f\u4e0e\u4e2d\u4e1c\u5c40\u52bf\u5e26\u6765\u7684\u4e0d\u786e\u5b9a\u6027\uff0c\u4ee5\u53ca\u653f\u5e9c\u6301\u7eed\u7684\u8d22\u653f\u652f\u6301\uff08fiscal support\uff1b\u901a\u8fc7\u5f00\u652f\u6216\u8865\u8d34\u523a\u6fc0\u7ecf\u6d4e\uff09\u8054\u7cfb\u5728\u4e00\u8d77\u3002<\/p>\n

\u83f2\u5f8b\u5bbe\u7edf\u8ba1\u5c40\uff08Philippine Statistics Authority\uff09\u6700\u65b0\u6570\u636e\u663e\u793a\uff0c3\u6708\u901a\u80c0\u52a0\u901f\u81f36.1%\uff0c\u4e3a7\u4e2a\u6708\u9ad8\u70b9\uff0c\u4ee4\u592e\u884c\u4ecd\u9762\u5bf9\u660e\u663e\u7684\u63a7\u901a\u80c0\u538b\u529b\u3002<\/p>\n

\u5bf9\u5229\u7387\u4e0e\u6c47\u5e02\u7684\u5f71\u54cd<\/h3>\n

\u8fd9\u6b21\u8f6c\u5411\u53ef\u80fd\u4ee4\u5229\u7387\u6389\u671f\u5e02\u573a\uff08interest rate swap\uff1b\u4ea4\u6362\u56fa\u5b9a\u5229\u7387\u4e0e\u6d6e\u52a8\u5229\u7387\u73b0\u91d1\u6d41\u7684\u5408\u7ea6\uff09\u7ee7\u7eed\u53cd\u6620\u66f4\u9ad8\u7684\u5229\u7387\u9884\u671f\uff0c\u56e0\u4e3a\u8fdc\u671f\u5229\u7387\u66f2\u7ebf\uff08forward curve\uff1b\u5e02\u573a\u5bf9\u672a\u6765\u5229\u7387\u7684\u5b9a\u4ef7\uff09\u4f1a\u628a\u672a\u6765\u52a0\u606f\u7eb3\u5165\u4ef7\u683c\u3002\u82e5\u5e02\u573a\u9884\u671f6\u6708\u518d\u52a0\u606f25\u4e2a\u57fa\u70b9\u3001\u7b2c\u4e09\u5b63\u518d\u52a0\u4e00\u6b21\uff0c\u5728\u6bd4\u7d22\u5229\u7387\u6389\u671f\u4e0a\u505a\u201c\u4ed8\u56fa\u5b9a\u201d\uff08pay fixed leg\uff1b\u652f\u4ed8\u56fa\u5b9a\u5229\u7387\u3001\u6536\u53d6\u6d6e\u52a8\u5229\u7387\u7684\u4ed3\u4f4d\uff09\u4f1a\u66f4\u76f4\u63a5\u53d7\u76ca\uff0c\u56e0\u4e3a\u5229\u7387\u4e0a\u5347\u65f6\u8fd9\u7c7b\u4ed3\u4f4d\u901a\u5e38\u66f4\u6709\u5229\u3002<\/p>\n

\u5bf9\u5916\u6c47\u4ea4\u6613\u8005\u800c\u8a00\uff0cBSP\u8f83\u5f3a\u786c\u7684\u52a0\u606f\u7acb\u573a\u53ef\u80fd\u652f\u6491\u83f2\u5f8b\u5bbe\u6bd4\u7d22\u3002\u8f83\u9ad8\u6536\u76ca\u7387\uff08yields\uff1b\u8d44\u4ea7\u56de\u62a5\u7387\uff09\u4e00\u822c\u66f4\u5bb9\u6613\u5438\u5f15\u5916\u8d44\uff0c\u6709\u673a\u4f1a\u51cf\u7f13\u6216\u626d\u8f6c\u6bd4\u7d22\u8fd1\u671f\u5bf9\u7f8e\u5143\u8d70\u5f31\u3002\u7f8e\u5143\/\u6bd4\u7d22\uff08USD\/PHP\uff09\u4e0a\u5468\u89e6\u53ca57.80\u540e\u5df2\u56de\u7a33\u81f3\u7ea657.25\uff0c\u82e5\u6bd4\u7d22\u7ee7\u7eed\u8d70\u5f3a\uff0c\u5356\u51fa\u7f8e\u5143\/\u6bd4\u7d22\u8fdc\u671f\uff08forwards\uff1b\u7ea6\u5b9a\u672a\u6765\u6309\u7279\u5b9a\u6c47\u7387\u4ea4\u5272\u7684\u5408\u7ea6\uff09\u4f1a\u66f4\u5177\u5438\u5f15\u529b\u3002<\/p>\n

\u6211\u4eec\u57282022\u81f32023\u5e74\u4e5f\u89c1\u8fc7\u7c7b\u4f3c\u60c5\u51b5\uff1aBSP\u4e3a\u5e94\u5bf9\u75ab\u60c5\u540e\u7684\u901a\u80c0\uff0c\u7d2f\u8ba1\u52a0\u606f\u8d85\u8fc7400\u4e2a\u57fa\u70b9\u3002\u5f53\u65f6\u6bd4\u7d22\u5728\u521d\u671f\u53cd\u5e94\u6ede\u540e\u540e\u9010\u6b65\u4f01\u7a33\uff0c\u663e\u793a\u6301\u7eed\u7d27\u7f29\u786e\u5b9e\u53ef\u80fd\u7a33\u5b9a\u6c47\u7387\u3002BSP\u5f3a\u8c03\u201c\u5faa\u5e8f\u6e10\u8fdb\u201d\u7684\u8282\u594f\uff0c\u610f\u5473\u7740\u8fd9\u6b21\u505a\u6cd5\u53ef\u80fd\u76f8\u4f3c\uff0c\u4f46\u529b\u5ea6\u8f83\u6e29\u548c\u3002<\/p>\n","protected":false},"excerpt":{"rendered":"

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