国联民生证券于2026年2月11日发布研究报告,由分析师王先爽、文雪阳解读央行最新发布的《2025年第四季度中国货币政策执行报告》。报告聚焦央行国债买卖操作的常态化转向,这一政策信号对理解中国货币政策框架演变及债券市场走向具有关键意义。常态化背后的三重逻辑《报告》明确提出"未来中国人民银行将常态化开展国债买卖操作,关注长期收益率的变化,灵活把握操作规模。"这标志着央行货币投放渠道的重大调整。...
Source Link国联民生证券于2026年2月11日发布研究报告,由分析师王先爽、文雪阳解读央行最新发布的《2025年第四季度中国货币政策执行报告》。报告聚焦央行国债买卖操作的常态化转向,这一政策信号对理解中国货币政策框架演变及债券市场走向具有关键意义。常态化背后的三重逻辑《报告》明确提出"未来中国人民银行将常态化开展国债买卖操作,关注长期收益率的变化,灵活把握操作规模。"这标志着央行货币投放渠道的重大调整。...
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