中国：隔夜锚点日益突出 – 渣打银行

中国：隔夜锚点日益突出 – 渣打银行

POPULAR ARTICLES

渣打银行的丁爽和陈亨指出，中国人民银行已将操作重点从DR007转向DR001，这与中国银行间市场隔夜回购的主导地位相一致。

渣打银行的丁爽和陈亨指出，中国人民银行已将操作重点从DR007转向DR001，这与中国银行间市场隔夜回购的主导地位相一致。他们预计短期货币市场利率大多将保持在7天逆回购政策利率以下，并看到逐步向隔夜政策利率框架的转变。

预计中国人民银行将以DR001为锚

“7天逆回购利率于2024年年中被确立为中国唯一的政策利率。”

“然而，自2025年5月中国人民银行发布第一季度货币政策执行报告以来，已开始使用隔夜利率（DR001）来监测货币市场利率与政策利率的偏离情况。”

“在2026年第一季度报告中，央行承诺将保持隔夜货币市场利率接近政策利率。”

“这一对DR001的关注转变表明中国人民银行倾向于将隔夜利率作为货币市场利率的锚。”

“我们预计中国人民银行最终将采用隔夜政策利率，以解决DR001与7天政策利率之间的期限错配问题。”

（本文由人工智能工具协助生成，编辑审核。）

More than a million users rely on FXStreet for real-time market data, charting tools, expert insights, and forex news. Its comprehensive economic calendar and educational webinars help traders stay informed and make calculated decisions. FXStreet is supported by a team of about 60 professionals, split between the Barcelona headquarters and various global regions.

Read More

Item 1 of 0

LIVE QUOTES

Name / Symbol

Chart

% Change / Price

1 D change

+0%

0

1 D change

+0%

0

1 D change

+0%

0

ALL ABOUT FOREX

Explore More Tools

Trading Academy

Browse a wide range of educational articles covering trading strategies, market insights, and financial fundamentals, all in one place.

Courses

Explore structured trading courses designed to support your growth at every stage of your trading journey.

Webinar

Join live and on-demand webinars to gain real-time market insights and trading strategies from industry experts.

Get Started!

Sign up and access the Global Markets in less than 3 minutes

Try Demo Account

social media icons

social media icons

Connect With Us

social media icons

social media icons

social media icons

social media icons

social media icons

social media icons

social media icons

The information provided on this website is of a general nature only and does not constitute personal financial advice. Before acting on any information on this website, you should consider the suitability of the information in relation to your objectives, financial situation and needs. Investing in CFDs and FX Margin Contracts carries significant risks and is not suitable for all investors. You may lose more than your initial deposit. You do not own, or have, any interest in the underlying asset. We recommend that you seek independent advice and ensure you fully understand the risks involved before trading. It is important that you read and consider the disclosure document before you acquire any product listed on the website. The information and advertisements offered on this website are not intended for use by any person in any country or jurisdiction where such use would be contrary to local laws and regulations. The Products and Services offered on this website are not intended for residents of the United States.

TMGM is authorized and regulated in various jurisdictions.

Trademax Australia Limited, trading as TMGM, is regulated by the Australian Securities and Investments Commission (ASIC), AFSL no. 436416 and is located at Level 28, One International Tower, 100 Barangaroo Avenue, 2000 Sydney, NSW Australia.

Email: support@tmgm.com.au

Trademax Global Limited, trading as TMGM, is authorized and regulated by the Vanuatu Financial Services Commission (VFSC), registration number 40356 and registered at 1276, Kumul Highway, Port Vila, Vanuatu, Republic of Vanuatu.

Email: support@tmgm.com

Trademax Global Markets (SE) Limited, trading as TMGM, is authorized and regulated by the Financial Services Authority (FSA) of Seychelles, with license number SD224. The company is registered at Office No 13, Providence Estate ABIS Centre, Mahe, Seychelles.

Email: support@tmgm.com

Trademax Global Markets (International) Pty Ltd, trading as TMGM, is authorized and regulated by the Financial Services Commission, Mauritius (FSC) with license no. GB22201012, and registered at 33, Edith Cavell Street C/o IQ EQ Fund Services (Mauritius) Ltd Port Louis, 11324 Mauritius.

Email: support@tmgm.com

Copyright © TMGM. All rights reserved