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

????:?????????:??669

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

?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%?”??????????? ??????????????????????????:???