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3月16日,美联储公布利率决议,将联邦基金目标利率区间提高25个基点至0.75%~1%。本文分析美联储加息意图、前景及对中国外溢影响。作为非常规货币政策正常化背景下的加息周期,与以往相比,本轮加息周期经济复苏基础尚未完全稳固,主要是为防范经济过热和资产泡沫,未来加息还面临新兴市场溢回效应冲击和特朗普新政不确定性影响。本次加息将对我国经济金融市场造成较大外溢影响,对我国跨境资本流
March 16, the Federal Reserve announced interest rate resolution, the federal funds target rate range by 25 basis points to 0.75% to 1%. This article analyzes the Federal Reserve interest rate increase intentions, prospects and impact on China’s spillover. As the cycle of rate hike under the normalization of unconventional monetary policies, the base for the economic recovery in the current rate hike cycle has not yet been completely stabilized as compared with the past, mainly to prevent overheating and asset bubbles. In the future, interest rates will also face the spillover of emerging markets Impact and Impact Trump New Deal Uncertainty. This rate hike will have a greater spillover effect on China’s economic and financial markets. It will also have an impact on China’s cross-border capital flows