高盛：澳大利亚联储本轮降息周期“步缓力弱” 但政策宽松风险仍存

环球市场播报

07-25

　　高盛集团首席经济学家安德鲁·伯克（Andrew Boak）指出，与历史宽松周期相比，澳大利亚联储（RBA）当前的降息步伐显得尤为缓慢且力度温和。据其分析，以往周期通常在15个月内累计降息约215个基点，而本轮周期预计仅会在13个月内降息125个基点。

　　伯克认为，本轮减息需求趋弱源于经济领域的特殊性。资产价格相对坚挺的现状已通过财富效应传导渠道为经济提供支撑，因此需依靠降息手段提振需求的程度或有所降低。

　　不过，这位经济学家强调，政策天平仍倾向进一步宽松。当前经济前景的不确定性，尤其是通胀回落速度与就业市场韧性之间的角力，意味着未来实际降息幅度仍存超预期可能。

海量资讯、精准解读，尽在新浪财经APP

责任编辑：王许宁

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Boak）指出，与历史宽松周期相比，澳大利亚联储（RBA）当前的降息步伐显得尤为缓慢且力度温和。据其分析，以往周期通常在15个月内累计降息约215个基点，而本轮周期预计仅会在13个月内降息125个基点。\n　　伯克认为，本轮减息需求趋弱源于经济领域的特殊性。资产价格相对坚挺的现状已通过财富效应传导渠道为经济提供支撑，因此需依靠降息手段提振需求的程度或...</p>\n\n<a href=\"https://finance.sina.com.cn/stock/usstock/c/2025-07-25/doc-infhsmty5091561.shtml\">网页链接</a>\n\n</div>\n\n\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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