高盛：澳大利亞聯儲本輪降息週期“步緩力弱” 但政策寬鬆風險仍存

環球市場播報

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　　高盛集團首席經濟學家安德魯·伯克（Andrew Boak）指出，與歷史寬鬆週期相比，澳大利亞聯儲（RBA）當前的降息步伐顯得尤爲緩慢且力度溫和。據其分析，以往週期通常在15個月內累計降息約215個基點，而本輪週期預計僅會在13個月內降息125個基點。

　　伯克認爲，本輪減息需求趨弱源於經濟領域的特殊性。資產價格相對堅挺的現狀已通過財富效應傳導渠道爲經濟提供支撐，因此需依靠降息手段提振需求的程度或有所降低。

　　不過，這位經濟學家強調，政策天平仍傾向進一步寬鬆。當前經濟前景的不確定性，尤其是通脹回落速度與就業市場韌性之間的角力，意味着未來實際降息幅度仍存超預期可能。

海量資訊、精準解讀，盡在新浪財經APP

責任編輯：王許寧

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Boak）指出，與歷史寬鬆週期相比，澳大利亞聯儲（RBA）當前的降息步伐顯得尤爲緩慢且力度溫和。據其分析，以往週期通常在15個月內累計降息約215個基點，而本輪週期預計僅會在13個月內降息125個基點。</p>\n<p>　　伯克認爲，本輪減息需求趨弱源於經濟領域的特殊性。資產價格相對堅挺的現狀已通過財富效應傳導渠道爲經濟提供支撐，因此需依靠降息手段提振需求的程度或有所降低。</p>\n<p>　　不過，這位經濟學家強調，政策天平仍傾向進一步寬鬆。當前經濟前景的不確定性，尤其是通脹回落速度與就業市場韌性之間的角力，意味着未來實際降息幅度仍存超預期可能。</p>\n<div>\n<div><img src=\"\"/></div>\n<div>海量資訊、精準解讀，盡在新浪財經APP</div>\n</div>\n<p>責任編輯：王許寧 </p>\n</div></body></html>\n<div class=\"bt-text\">\n\n\n<p> 來源：<a href=\"https://finance.sina.com.cn/stock/usstock/c/2025-07-25/doc-infhsmty5091561.shtml\">環球市場播報</a></p>\n<p>為提升您的閱讀體驗，我們對本頁面進行了排版優化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU1868837136.USD","symbol_name":"CT (LUX) I AMERICAN \"8\" (USD) 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