中信证券:美联储将在9月降息25bps,并在10月和12月分别再降息25bps

Blockbeats
Sep 08, 2025

BlockBeats 消息,9 月 8 日,中信证券研报称,美国 8 月非农数据再度走弱,7 月三位小数失业率上升至 4.248%,8 月三位小数失业率上升至 4.324%,一位小数失业率录得 4.3%,符合市场预期。8 月新增非农就业人数大幅低于预期,政府部门和私人部门均走弱。除此以外,本周 ADP 和 PMI 就业分项等美国就业数据全面走弱,此前观点得到印证:美国就业市场并不如数据表面所展示的健康,美国就业市场延续降温趋势、经济继续走弱,但不至于马上陷入衰退。对美联储而言,就业市场风险将再度上行,中信延续此前观点,预计美联储将在 9 月议息会议上降息 25bps,并在 10 月和 12 月分别再降息 25bps。(金十)

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