30????????2.5%,6?????????

????:??????????:??????

????? ????:???????

??????????MLF?????????????,????????LPR??

6?17????????,?????????(MLF)??????????????,???????????????????????,????????,??????????7????????10????????????????????30????????????4????“???????????”??,????????????????????????,30??????????(230023)?????17???????2.5085,??????????????0.35BP?????????,????2????????28?,30?2.5%,??MLF????,??,??2.4%???????????????????,?????2.58%????????????????????,??????????????????????2.5%?

???????,??????????????“??”??,????,?,??

????

???????????,??,??????MLF?????????,???????????????6???

??????????,???????“???,????????????????????,????,?????????,???2024???(?????????????????????????9??????)??????,??,?????????????????????,????????????????,??????????????”

?????????,??,????????20?????????(LPR)???,????5???LPR,????

?????????????,5?????????2.06?????????,????????????????2024??????????????1~5??????,??????9000??,???1????;???? 3500????;??????????1?????,???????????????“??”????????,??

??,?????220BP,????????7.2??,??????????????1000??????,??????????????????????????????????,????????????

????????????(Tommy Wu)???????,?????????????,?????7.11?????????????????????4???????7.0950???????????,???,??????????????,?????????????????,?,??????????????,?????????????????

??????????????????,???????????5???CPI???????3.4%????3.3%(??????????0),???CPI?3.6%???????????????????????????3.4%,???????????????,??????????CPI??

?,6??13????,9???56%?????1?,????2?,???25BP???

????????????,?????,???,??MLF???,?????????,LPR?????10~20BP?

?????????????????????????

??6????17?????????,10????????????(240004)???2.289,??????????????0.6BP,4?????????????2.35;30?????????????????2.5075,??????0.35BP,4???2.58?

???,??????????????????,???????????,???????,????????????????????30????????????,??30???????????????ETF???????3???115???,????????????????,??111~112??????????,???

?????????,10??2.2%,30???????????2.5%????????????????,????????,?“??2.5%~3%”??“10??????????????????2.5%~3.0%”;???“????”“?????”??“5%??????????”;?????????“????????????????????,????????”??“?”?

???????????,???????,???????????????????????,?????

??????????????????,??5??,??

????????????????????, 5??,5?????????CPI?????????0.3%,????????,???????????,?????????????????????,????????5??????PPI???????????????????????-1.4%,?????-2.5%,????????????,????????? ??????????????;????????????????

????,????????????????????????,?????????,6??30???????????????42%,???;??,?????????????????????,6???????????????????????????????????????????,?????

??????????????,???????????,??,???,???????????

?,????,???????????????????????????,????????????50??????????????20??????????,??????????????????????????????,???????????????????,???????????,????,?????????????

“????????????????,?????????????????3????????,????????????????????????,???????????,10?????????2.25%~2.35%?”????????? ????????:???????