国债：全球央行年会说了什么

“” Z0016413gaoxiang@nawaa.com 1. 1.1 T2412105.9550.34%TF2412104.530.2%TS2412102.1560.12%TL2412111.750.94%2.16%3.93bp8.59bp1.59% 1.2 1.2.1 Myconfidence has grown that inflation is on a sustainable path back to 2 percent4.3% The time has come for policy to adjust. The direction of travel is clear, and thetiming and pace of rate cuts will depend on incoming data, the evolving outlook, andthe balance of risks. Pandemic-related distortions to supply anddemand, as well as severe shocks to energy and commodity markets, wereimportant drivers of high inflation, and their reversal has been a key part of the storyof its decline.20214-9 anchored inflation expectations, reinforced by vigorous central bank actions,can facilitate disinflation without the need for slack. 1.2.2 19226400bp23And the balance of the risks to our two mandates haschanged.7FOMCdual mandate 2 6data dependent 3 2. 2.1 TCTD7240006TIRR 2.2 10-3010Y / 136310008400 8888 910www.nanhua.net603093