{"id":45525,"date":"2026-04-24T14:56:38","date_gmt":"2026-04-24T14:56:38","guid":{"rendered":"https:\/\/www.vtmarketsmy.com\/cn\/uncategorized\/%e4%b8%89%e8%8f%b1%e6%97%a5%e8%81%94%e9%87%91%e8%9e%8d%e9%9b%86%e5%9b%a2%ef%bc%88mufg%ef%bc%89derek-halpenny%e8%ad%a6%e5%91%8a%ef%bc%9a%e7%be%8e%e5%85%83-%e6%97%a5%e5%85%83%e9%80%bc%e8%bf%91160\/"},"modified":"2026-04-24T14:56:38","modified_gmt":"2026-04-24T14:56:38","slug":"%e4%b8%89%e8%8f%b1%e6%97%a5%e8%81%94%e9%87%91%e8%9e%8d%e9%9b%86%e5%9b%a2%ef%bc%88mufg%ef%bc%89derek-halpenny%e8%ad%a6%e5%91%8a%ef%bc%9a%e7%be%8e%e5%85%83-%e6%97%a5%e5%85%83%e9%80%bc%e8%bf%91160","status":"publish","type":"post","link":"https:\/\/www.vtmarketsmy.com\/cn\/live-updates\/%e4%b8%89%e8%8f%b1%e6%97%a5%e8%81%94%e9%87%91%e8%9e%8d%e9%9b%86%e5%9b%a2%ef%bc%88mufg%ef%bc%89derek-halpenny%e8%ad%a6%e5%91%8a%ef%bc%9a%e7%be%8e%e5%85%83-%e6%97%a5%e5%85%83%e9%80%bc%e8%bf%91160\/","title":{"rendered":"\u4e09\u83f1\u65e5\u8054\u91d1\u878d\u96c6\u56e2\uff08MUFG\uff09Derek Halpenny\u8b66\u544a\uff1a\u7f8e\u5143\/\u65e5\u5143\u903c\u8fd1160\uff0c\u65e5\u672c\u592e\u884c\u7acb\u573a\u53ca\u970d\u5c14\u6728\u5179\u5c40\u52bf\u7d27\u5f20\u524a\u5f31\u65e5\u5143"},"content":{"rendered":"

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\u65e5\u672c\u592e\u884c\uff08BoJ\uff09\u5468\u4e8c\u5f00\u4f1a\uff0c\u5e02\u573a\u9884\u8ba1\u653f\u7b56\u7ef4\u6301\u4e0d\u53d8\u3002\u4e0b\u5468\u56db\u5927\u4e3b\u8981\u592e\u884c\u9884\u8ba1\u90fd\u4e0d\u4f1a\u52a0\u606f\u3002<\/p>\n

BoJ Messaging And Yen Sensitivity<\/h3>\n

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\u65e5\u672c\u8d22\u52a1\u7701\u8868\u793a\uff0c\u5df2\u51c6\u5907\u597d\u5bf9\u6295\u673a\u6027\u6ce2\u52a8\u4f5c\u51fa\u201c\u5927\u80c6\u884c\u52a8\u201d\uff08\u5373\u5165\u5e02\u5e72\u9884\uff0c\u52a8\u7528\u5916\u6c47\u50a8\u5907\u4e70\u5165\u65e5\u5143\u3001\u5356\u51fa\u7f8e\u5143\u6765\u538b\u4f4e\u7f8e\u5143\/\u65e5\u5143\uff09\u3002\u8d22\u52a1\u5927\u81e3\u7247\u5c71\u79f0\uff0c\u65e5\u672c\u4e0e\u7f8e\u56fd\u201c\u5168\u5929\u501924\u5c0f\u65f6\u201d\u4fdd\u6301\u5bc6\u5207\u8054\u7cfb\uff0c\u65e5\u672c\u6709\u201c\u5145\u5206\u7a7a\u95f4\u201d\u91c7\u53d6\u884c\u52a8\u3002<\/p>\n

\u5e02\u573a\u5df2\u4e3a6\u6708\u4f1a\u8bae\u8ba1\u5165\u7ea618\u4e2a\u57fa\u70b9\uff08bps\uff0c\u57fa\u70b9\uff1b1\u4e2a\u57fa\u70b9=0.01\u4e2a\u767e\u5206\u70b9\uff09\u7684\u6536\u7d27\u9884\u671f\u3002\u82e5\u901a\u80c0\u4e0a\u5347\u4f46\u653f\u7b56\u4ecd\u5bbd\u677e\uff0c\u6301\u7eed\u7684\u8d1f\u5b9e\u9645\u5229\u7387\uff0c\u4ee5\u53ca\u8fc7\u53bb\u5e72\u9884\u6548\u679c\u77ed\u6682\uff0c\u53ef\u80fd\u4f7f\u65e5\u5143\u7ee7\u7eed\u627f\u538b\u3002<\/p>\n

\u968f\u77402026\u5e744\u6708\u5e95\u4e34\u8fd1\uff0c\u7f8e\u5143\/\u65e5\u5143\u518d\u6b21\u903c\u8fd1160\u3002\u7f8e\u65e5\u5229\u5dee\uff08\u7f8e\u56fd\u4e0e\u65e5\u672c\u5229\u7387\u5dee\u8ddd\uff09\u4ecd\u662f\u63a8\u52a8\u6c47\u4ef7\u7f13\u6162\u4e0a\u884c\u7684\u6838\u5fc3\u56e0\u7d20\u3002\u7f8e\u56fd\u901a\u80c0\u4ecd\u504f\u9ad8\uff0c\u4f7f\u5e02\u573a\u63a8\u8fdf\u5bf9\u7f8e\u8054\u50a8\u964d\u606f\u7684\u9884\u671f\uff0c\u7f8e\u5143\u8f83\u9ad8\u7684\u6536\u76ca\u7387\u4f18\u52bf\u7ee7\u7eed\u5438\u5f15\u8d44\u91d1\u6d41\u51fa\u65e5\u5143\u3002<\/p>\n

Intervention Risk And Trading Approaches<\/h3>\n

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\u5982\u4eca\u65e5\u5143\u7684\u57fa\u672c\u9762\u5f31\u52bf\u4ecd\u5728\uff0c\u56e0\u4e3a\u5b9e\u9645\u653f\u7b56\u5229\u7387\u4f9d\u7136\u6df1\u5ea6\u4e3a\u8d1f\u3002\u65e5\u672c\u6700\u65b0\u6838\u5fc3\u901a\u80c0\uff08\u5254\u9664\u6ce2\u52a8\u8f83\u5927\u7684\u9879\u76ee\u540e\u66f4\u80fd\u53cd\u6620\u8d8b\u52bf\u7684\u901a\u80c0\u6307\u6807\uff09\u7ea62.5%\uff0c\u800c\u65e5\u672c\u592e\u884c\u653f\u7b56\u5229\u7387\u4ec50.1%\u3002\u5728\u8fd9\u79cd\u73af\u5883\u4e0b\uff0c\u5373\u4f7f\u5b98\u5458\u4e0d\u65ad\u8b66\u544a\u53ef\u80fd\u5e72\u9884\uff0c\u5e02\u573a\u4ecd\u503e\u5411\u5356\u51fa\u65e5\u5143\u3002<\/p>\n

\u7531\u4e8e\u7a81\u53d1\u6025\u8dcc\u6025\u6da8\u7684\u6982\u7387\u9ad8\uff0c\u4ea4\u6613\u8005\u53ef\u8003\u8651\u4ece\u6ce2\u52a8\u4e2d\u83b7\u5229\u7684\u7b56\u7565\u3002\u4e70\u5165\u65e5\u5143\u770b\u6da8\u671f\u6743\uff08\u7b49\u540c\u4e70\u5165\u7f8e\u5143\/\u65e5\u5143\u770b\u8dcc\u671f\u6743\uff09\u53ef\u5728\u98ce\u9669\u53ef\u63a7\uff08\u6700\u5927\u4e8f\u635f\u4e3a\u671f\u6743\u91d1\uff09\u7684\u60c5\u51b5\u4e0b\uff0c\u62bc\u6ce8\u8d22\u52a1\u7701\u7a81\u88ad\u5e72\u9884\u30022025\u5e74\u4ece160\u6025\u8dcc\u81f3154\u7684\u8bb0\u5fc6\uff0c\u4f7f\u8fd9\u6210\u4e3a\u5408\u7406\u7684\u5bf9\u51b2\u6216\u6295\u673a\u9009\u62e9\u3002<\/p>\n

\u53e6\u4e00\u65b9\u9762\uff0c\u5f3a\u52bf\u4e0a\u884c\u8d8b\u52bf\u4ee4\u7ee7\u7eed\u505a\u591a\u7f8e\u5143\/\u65e5\u5143\u5f88\u6709\u5438\u5f15\u529b\uff0c\u8fd9\u7c7b\u505a\u6cd5\u5e38\u88ab\u79f0\u4e3a\u201c\u5957\u606f\u4ea4\u6613\u201d\uff08\u501f\u5165\u4f4e\u5229\u7387\u8d27\u5e01\u3001\u4e70\u5165\u9ad8\u5229\u7387\u8d44\u4ea7\u8d5a\u53d6\u5229\u5dee\uff09\u3002\u4f46\u5728\u63a5\u8fd1160\u3001\u4e14\u5f53\u5c40\u66fe\u51fa\u624b\u7684\u4ef7\u4f4d\u9644\u8fd1\uff0c\u4e0d\u505a\u4fdd\u62a4\u7684\u6301\u4ed3\u98ce\u9669\u5f88\u9ad8\u3002\u4ea4\u6613\u8005\u53ef\u4f7f\u7528\u66f4\u7d27\u7684\u6b62\u635f\uff08\u4ef7\u683c\u89e6\u53ca\u5373\u81ea\u52a8\u5e73\u4ed3\uff09\u6216\u4e70\u5165\u77ed\u671f\u671f\u6743\u770b\u8dcc\u4f5c\u4e3a\u4fdd\u9669\uff0c\u4ee5\u9632\u518d\u5ea6\u51fa\u73b0\u201c\u5927\u80c6\u884c\u52a8\u201d\u3002<\/p>\n","protected":false},"excerpt":{"rendered":"

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