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

????:?????????????:????spa??

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

?????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%?”??? ???????:?????????????????