{"id":48255,"date":"2026-06-02T15:28:14","date_gmt":"2026-06-02T15:28:14","guid":{"rendered":"https:\/\/www.vtmarketsmy.com\/cn\/uncategorized\/%e7%91%9e%e5%a3%ab%e5%a4%ae%e8%a1%8c%e6%96%bd%e8%8e%b1%e6%a0%bc%e5%b0%94%e6%9a%97%e7%a4%ba%e6%9b%b4%e6%84%bf%e6%84%8f%e9%80%9a%e8%bf%87%e5%a4%96%e6%b1%87%e5%b9%b2%e9%a2%84%e9%81%8f%e5%88%b6%e7%91%9e\/"},"modified":"2026-06-02T15:28:14","modified_gmt":"2026-06-02T15:28:14","slug":"%e7%91%9e%e5%a3%ab%e5%a4%ae%e8%a1%8c%e6%96%bd%e8%8e%b1%e6%a0%bc%e5%b0%94%e6%9a%97%e7%a4%ba%e6%9b%b4%e6%84%bf%e6%84%8f%e9%80%9a%e8%bf%87%e5%a4%96%e6%b1%87%e5%b9%b2%e9%a2%84%e9%81%8f%e5%88%b6%e7%91%9e","status":"publish","type":"post","link":"https:\/\/www.vtmarketsmy.com\/cn\/live-updates\/%e7%91%9e%e5%a3%ab%e5%a4%ae%e8%a1%8c%e6%96%bd%e8%8e%b1%e6%a0%bc%e5%b0%94%e6%9a%97%e7%a4%ba%e6%9b%b4%e6%84%bf%e6%84%8f%e9%80%9a%e8%bf%87%e5%a4%96%e6%b1%87%e5%b9%b2%e9%a2%84%e9%81%8f%e5%88%b6%e7%91%9e\/","title":{"rendered":"\u745e\u58eb\u592e\u884c\u65bd\u83b1\u683c\u5c14\u6697\u793a\u66f4\u613f\u610f\u901a\u8fc7\u5916\u6c47\u5e72\u9884\u904f\u5236\u745e\u90ce\u5347\u503c"},"content":{"rendered":"

\u745e\u58eb\u56fd\u5bb6\u94f6\u884c\uff08SNB\uff09\u4e3b\u5e2d\u9a6c\u4e01\u00b7\u65bd\u83b1\u683c\u5c14\uff08Martin Schlegel\uff09\u5468\u4e8c\u8868\u793a\uff0cSNB\u5df2\u66f4\u51c6\u5907\u4ecb\u5165\u5916\u6c47\u5e02\u573a\uff0c\u4ee5\u5bf9\u51b2\u745e\u90ce\u5355\u8fb9\u5347\u503c\u3002\u4ed6\u79f0\uff0c\u745e\u90ce\u7684\u5b9e\u9645\u9ad8\u4f30\u7a0b\u5ea6\u660e\u663e\u4f4e\u4e8e\u540d\u4e49\u9ad8\u4f30\uff0c\u5e76\u5c06\u592e\u884c\u66f4\u9ad8\u7684\u5e72\u9884\u610f\u613f\u4e0e\u4e2d\u4e1c\u5c40\u52bf\u5347\u7ea7\u5e26\u6765\u7684\u9ad8\u4f30\u538b\u529b\u8054\u7cfb\u8d77\u6765\u3002<\/p>\n

\u6c47\u5e02\u53cd\u5e94\u6e29\u548c\uff0c\u7f8e\u5143\/\u745e\u90ce\uff08USD\/CHF\uff09\u4e0b\u8dcc0.2%\u81f3\u7ea60.7850\u3002SNB\u7684\u4f7f\u547d\u662f\u5728\u4e2d\u957f\u671f\u786e\u4fdd\u7269\u4ef7\u7a33\u5b9a\uff0c\u76ee\u6807\u4e3a\u745e\u58ebCPI\u5e74\u589e\u5e45\u4f4e\u4e8e2%\u3002\u7406\u4e8b\u4f1a\u636e\u6b64\u8bbe\u5b9a\u653f\u7b56\u5229\u7387\uff0c\u5e76\u5728\u5fc5\u8981\u65f6\u5e72\u9884\u4ee5\u9650\u5236\u745e\u90ce\u8fc7\u5ea6\u8d70\u5f3a\uff1b\u8be5\u884c\u6b64\u524d\u66fe\u57282011\u5e74\u81f32015\u5e74\u95f4\u5b9e\u65bd\u745e\u90ce\u5bf9\u6b27\u5143\u7684\u6c47\u7387\u9489\u4f4f\u653f\u7b56\u3002\u8d27\u5e01\u653f\u7b56\u51b3\u7b56\u6309\u5b63\u5ea6\u8fdb\u884c\uff0c\u4f1a\u8bae\u5206\u522b\u57283\u6708\u30016\u6708\u30019\u6708\u548c12\u6708\u4e3e\u884c\u3002<\/p>\n

SNB\u2019s Intervention Readiness and Market Implications<\/h3>\n

\u968f\u7740\u745e\u58eb\u56fd\u5bb6\u94f6\u884c\u91ca\u653e\u51fa\u66f4\u9ad8\u7684\u5e72\u9884\u51c6\u5907\u5ea6\uff0c\u6211\u4eec\u8ba4\u4e3a\u745e\u90ce\u5347\u503c\u7a7a\u95f4\u53ef\u80fd\u9762\u4e34\u201c\u9876\u90e8\u7ea6\u675f\u201d\u3002\u8fd9\u7c7b\u53e3\u5934\u5e72\u9884\u6e05\u695a\u4f20\u9012\u51fa\u4fe1\u606f\uff1a\u592e\u884c\u5c06\u5bf9\u8d27\u5e01\u51fa\u73b0\u8fc7\u5ea6\u3001\u5355\u8fb9\u8d70\u5f3a\u91c7\u53d6\u884c\u52a8\u3002\u884d\u751f\u54c1\u4ea4\u6613\u8005\u53ef\u5c06\u6b64\u89c6\u4e3a\u4fe1\u53f7\u2014\u2014\u745e\u90ce\u82e5\u8981\u8fdb\u4e00\u6b65\u5927\u5e45\u8d70\u5f3a\uff0c\u53ef\u80fd\u4f1a\u53d7\u5230\u592e\u884c\u884c\u52a8\u7684\u9650\u5236\u3002<\/p>\n

\u6211\u4eec\u8ba4\u4e3a\u8fd9\u5728\u671f\u6743\u5e02\u573a\u5e26\u6765\u673a\u4f1a\uff0c\u5c24\u5176\u9002\u5408\u90a3\u4e9b\u4ece\u201c\u4e0a\u884c\u53d7\u9650\u201d\u4e2d\u83b7\u5229\u7684\u7b56\u7565\u3002\u5356\u51fa\u745e\u90ce\u4ef7\u5916\u770b\u6da8\u671f\u6743\uff0c\u6216\u5efa\u7acb\u504f\u7a7a\u7684\u770b\u6da8\u4ef7\u5dee\uff08bearish call spread\uff09\uff0c\u53ef\u80fd\u662f\u8868\u8fbe\u8be5\u89c2\u70b9\u7684\u6709\u6548\u65b9\u5f0f\u3002\u8be5\u7b56\u7565\u5728\u745e\u90ce\u7ef4\u6301\u7a33\u5b9a\u6216\u8d70\u5f31\u65f6\u53d7\u76ca\uff0c\u800cSNB\u7684\u5e72\u9884\u5a01\u80c1\u53ef\u4f5c\u4e3a\u9632\u7ebf\uff0c\u964d\u4f4e\u745e\u90ce\u6025\u5347\u7684\u5c3e\u90e8\u98ce\u9669\u3002<\/p>\n

Economic Backdrop and SNB\u2019s Track Record<\/h3>\n

SNB\u4e4b\u6240\u4ee5\u5177\u5907\u66f4\u5927\u64cd\u4f5c\u5f39\u6027\uff0c\u662f\u56e0\u4e3a\u56fd\u5185\u901a\u80c0\u4ecd\u7136\u6e29\u548c\uff1b\u6700\u65b0\u6570\u636e\u663e\u793a\uff0c2026\u5e745\u6708CPI\u4ec5\u4e3a1.3%\u3002\u8fd9\u660e\u663e\u5904\u4e8e\u5176\u76ee\u6807\u533a\u95f4\u5185\uff0c\u4f7f\u5176\u66f4\u6709\u6761\u4ef6\u5c06\u5173\u6ce8\u70b9\u8f6c\u5411\u6c47\u7387\u3002\u8fd1\u671f\u745e\u90ce\u8d70\u5f3a\u5219\u53d7\u907f\u9669\u9700\u6c42\u63a8\u52a8\uff0c\u80cc\u540e\u662f\u970d\u5c14\u6728\u5179\u6d77\u5ce1\u5730\u7f18\u653f\u6cbb\u7d27\u5f20\u518d\u8d77\u3002<\/p>\n

\u66f4\u5177\u5e72\u9884\u8272\u5f69\u7684\u7acb\u573a\uff0c\u4e5f\u53ef\u7531\u8d70\u5f31\u7684\u7ecf\u6d4e\u6570\u636e\u652f\u6491\u3002\u745e\u58eb2026\u5e74\u7b2c\u4e00\u5b63\u5ea6\u51fa\u53e3\u8ba2\u5355\u4e0b\u964d0.5%\uff0c\u800c\u8fd9\u4e00\u8d8b\u52bf\u5f88\u53ef\u80fd\u56e0\u8d27\u5e01\u9ad8\u4f30\u800c\u88ab\u653e\u5927\u3002\u5f3a\u52bf\u745e\u90ce\u4f1a\u63a8\u9ad8\u745e\u58eb\u5546\u54c1\u7684\u6d77\u5916\u4ef7\u683c\uff0c\u51b2\u51fb\u8be5\u56fd\u5173\u952e\u7684\u51fa\u53e3\u90e8\u95e8\u3002<\/p>\n

\u5e02\u573a\u4e5f\u9700\u8bb0\u4f4fSNB\u8fc7\u53bb\u201c\u5927\u89c4\u6a21\u4e14\u679c\u65ad\u201d\u5e72\u9884\u7684\u5386\u53f2\uff0c\u6700\u5178\u578b\u4f8b\u5b50\u4fbf\u662f2011\u20142015\u5e74\u745e\u90ce\u5bf9\u6b27\u5143\u9489\u4f4f\u653f\u7b56\u3002\u8be5\u5148\u4f8b\u8868\u660e\uff0cSNB\u65e2\u6709\u610f\u613f\uff0c\u4e5f\u5177\u5907\u8db3\u591f\u7684\u8d44\u4ea7\u8d1f\u503a\u8868\u5b9e\u529b\u6765\u634d\u536b\u5176\u5e0c\u671b\u8fbe\u6210\u7684\u6c47\u7387\u6c34\u5e73\u3002\u56e0\u6b64\uff0c\u5176\u8fd1\u671f\u8a00\u8bba\u5e94\u88ab\u8d4b\u4e88\u8f83\u9ad8\u53ef\u4fe1\u5ea6\u3002<\/p>\n

\u5c55\u671b\u540e\u5e02\uff0c\u5e02\u573a\u7126\u70b9\u5c06\u8f6c\u5411SNB\u4e8e2026\u5e746\u670818\u65e5\u53d1\u5e03\u7684\u4e0b\u4e00\u6b21\u8d27\u5e01\u653f\u7b56\u8bc4\u4f30\u3002\u4ea4\u6613\u8005\u5e94\u5bc6\u5207\u5173\u6ce8\u8be5\u884c\u63aa\u8f9e\u662f\u5426\u51fa\u73b0\u4efb\u4f55\u6b63\u5f0f\u653f\u7b56\u8c03\u6574\uff0c\u751a\u81f3\u662f\u5426\u610f\u5916\u964d\u606f\u4ee5\u538b\u4f4e\u6c47\u7387\u3002\u672c\u6b21\u4f1a\u8bae\u5c06\u662f\u5173\u952e\u4e8b\u4ef6\uff0c\u53ef\u80fd\u51b3\u5b9a\u672a\u6765\u6570\u6708\u745e\u90ce\u7684\u4ea4\u6613\u533a\u95f4\u3002<\/p>\n","protected":false},"excerpt":{"rendered":"

SNB\u4e3b\u5e2d\u653e\u8bdd\u66f4\u613f\u610f\u5e72\u9884\u5916\u6c47\uff0c\u538b\u5236\u745e\u90ce\u5355\u8fb9\u5347\u503c\uff1b\u907f\u9669\u63a8\u52a8\u9ad8\u4f30\u4f46\u901a\u80c0\u6e29\u548c\u3002\u7f8e\u5143\/\u745e\u90ce\u5c0f\u8dcc\u3002\u671f\u6743\u53ef\u62bc\u201c\u4e0a\u884c\u53d7\u9650\u201d\uff0c\u5173\u6ce86\u670818\u65e5\u8bae\u606f\u3002<\/p>\n","protected":false},"author":12,"featured_media":47949,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[129],"tags":[],"class_list":["post-48255","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-live-updates"],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.vtmarketsmy.com\/cn\/wp-json\/wp\/v2\/posts\/48255","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=48255"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarketsmy.com\/cn\/wp-json\/wp\/v2\/posts\/48255\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.vtmarketsmy.com\/cn\/wp-json\/wp\/v2\/media\/47949"}],"wp:attachment":[{"href":"https:\/\/www.vtmarketsmy.com\/cn\/wp-json\/wp\/v2\/media?parent=48255"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarketsmy.com\/cn\/wp-json\/wp\/v2\/categories?post=48255"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarketsmy.com\/cn\/wp-json\/wp\/v2\/tags?post=48255"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}