{"id":100149,"date":"2025-12-23T14:14:02","date_gmt":"2025-12-23T19:14:02","guid":{"rendered":"https:\/\/www.chinesepress.com\/2025\/12\/23\/%e5%8a%a0%e6%8b%bf%e5%a4%a76%e5%a4%a7%e9%93%b6%e8%a1%8c%e5%85%ac%e5%b8%832026%e5%b9%b4%e5%88%a9%e7%8e%87%e9%a2%84%e6%b5%8b-%e5%8f%aa%e6%9c%89%e4%b8%80%e5%ae%b6%e8%ae%a4%e4%b8%ba%e4%bc%9a%e9%99%8d\/"},"modified":"2025-12-23T14:14:02","modified_gmt":"2025-12-23T19:14:02","slug":"%e5%8a%a0%e6%8b%bf%e5%a4%a76%e5%a4%a7%e9%93%b6%e8%a1%8c%e5%85%ac%e5%b8%832026%e5%b9%b4%e5%88%a9%e7%8e%87%e9%a2%84%e6%b5%8b-%e5%8f%aa%e6%9c%89%e4%b8%80%e5%ae%b6%e8%ae%a4%e4%b8%ba%e4%bc%9a%e9%99%8d","status":"publish","type":"post","link":"https:\/\/www.chinesepress.com\/pre\/archives\/100149","title":{"rendered":"\u52a0\u62ff\u59276\u5927\u94f6\u884c\u516c\u5e032026\u5e74\u5229\u7387\u9884\u6d4b: \u53ea\u6709\u4e00\u5bb6\u8ba4\u4e3a\u4f1a\u964d\u606f!"},"content":{"rendered":"<h4 class=\"content-style title-3\">\u7ee7\u7eed\u964d\u606f\uff1f\uff1f\u8fd8\u662f\u7ef4\u6301\u4e0d\u53d8\uff1f<\/h4>\n<p>\u52a0\u62ff\u5927\u6700\u5927\u7684\u51e0\u5bb6\u5728\u8fc8\u51652026\u5e74\u4e4b\u9645\uff0c\u5bf9\u6700\u7ec8\u8d70\u5411\u7684\u5224\u65ad\u51fa\u73b0\u4e86\u660e\u663e\u7684\u5206\u6b67\u3002<\/p>\n<p>\u591a\u4f4d\u4ee3\u8868\u52a0\u62ff\u5927\u516d\u5927\u94f6\u884c\u7684\u5b66\u5bb6\u5728\u63a5\u53d7BNNBloomberg\u91c7\u8bbf\u65f6\u8868\u793a\uff0c\u52a0\u62ff\u5927\u592e\u884c\u5373\u5c06\u9762\u5bf9\u7684\u4e00\u5e74\u4e2d\uff0c\u901a\u80c0\u98ce\u9669\u3001\u8d38\u6613\u4e0d\u786e\u5b9a\u6027\u3001\u751f\u4ea7\u7387\u75b2\u5f31\u4ee5\u53ca\u4eba\u53e3\u589e\u957f\u653e\u7f13\u90fd\u5c06\u53d1\u6325\u91cd\u8981\u4f5c\u7528\u3002<\/p>\n<figure class=\"image\" data-attachment-id=\"6211296\" data-aspect-ratio=\"4.1333\" data-width=\"930\" data-height=\"225\">\n<img decoding=\"async\" src=\"https:\/\/p0.51img.ca\/i\/6949b35014362.png\"><\/figure>\n<figure class=\"image\" data-attachment-id=\"6211295\" data-aspect-ratio=\"1.7851\" data-width=\"1080\" data-height=\"605\">\n<img decoding=\"async\" src=\"https:\/\/p0.51img.ca\/i\/6949b34f9d396.png\"><\/figure>\n<p>\u572812\u670810\u65e5\u6700\u8fd1\u4e00\u6b21\u5229\u7387\u51b3\u8bae\u4e2d\uff0c\u52a0\u62ff\u5927\u592e\u884c\u5c06\u57fa\u51c6\u5229\u7387\u7ef4\u6301\u57282.25%\uff0c\u6b64\u524d\u4e00\u5e74\u5185\u5df2\u7d2f\u8ba1\u964d\u606f\u56db\u6b21\u3002<\/p>\n<p>\u5728\u53d7\u8bbf\u7684\u516d\u4f4d\u9996\u5e2d\u7ecf\u6d4e\u5b66\u5bb6\u4e2d\uff0c\u67092\u4f4d\u9884\u8ba1\u4f1a\u52a0\u606f\uff0c1\u4f4d\u9884\u8ba1\u4f1a\u964d\u606f\uff0c\u5176\u4f593\u4f4d\u8ba4\u4e3a\u884c\u957fTiffMacklem\u5c06\u5728\u6574\u4e2a2026\u5e74\u7ef4\u6301\u5229\u7387\u4e0d\u53d8\u3002<\/p>\n<h4 class=\"content-style title-3\">BMO\uff1a\u52a0\u62ff\u5927\u751f\u4ea7\u7387\u8fdc\u8fdc\u843d\u540e\u4e8e\u7f8e\u56fd<\/h4>\n<p>BMO\u94f6\u884c\u9884\u8ba1\uff0c\u52a0\u62ff\u5927\u592e\u884c\u5c06\u628a\u5229\u7387\u964d\u81f3\u4e2d\u6027\u5229\u7387\u4ee5\u4e0b\uff0c\u53ef\u80fd\u964d\u81f32%\u751a\u81f3\u66f4\u4f4e\u81f31.75%\u3002<\/p>\n<figure class=\"image\" data-attachment-id=\"6211291\" data-aspect-ratio=\"1.4385\" data-width=\"971\" data-height=\"675\">\n<img decoding=\"async\" src=\"https:\/\/p0.51img.ca\/i\/6949b34f72714.png\"><\/figure>\n<p>BMO\u5168\u7403\u8d44\u4ea7\u7ba1\u7406\u516c\u53f8\u56fa\u5b9a\u6536\u76ca\u53ca\u8d27\u5e01\u5e02\u573a\u4e3b\u7ba1EarlDavis\u5728\u63a5\u53d7BNNBloomberg\u91c7\u8bbf\u65f6\u8868\u793a\uff0c\u5176\u9884\u6d4b\u9762\u4e34\u7684\u6700\u5927\u98ce\u9669\u6765\u81ea\u52a0\u7f8e\u58a8\u534f\u5b9a(CUSMA)\u7684\u4e0d\u786e\u5b9a\u6027\u6216\u6cb9\u4ef7\u5927\u5e45\u4e0a\u6da8\u3002<\/p>\n<p>\u4ed6\u8bf4\uff1a\u201c\u5982\u679c\u5766\u7387\u4e00\u70b9\u8bb2\uff0c\u6211\u4e0d\u8ba4\u4e3a\u6709\u4ec0\u4e48\u60c5\u51b5\u4f1a\u4fc3\u4f7f\u592e\u884c\u52a0\u606f\uff0c\u4e3b\u8981\u539f\u56e0\u662f\u52a0\u62ff\u5927\u7684\u751f\u4ea7\u7387\u8fdc\u8fdc\u843d\u540e\u4e8e\u7f8e\u56fd\u3002\u201d<\/p>\n<p>\u4ed6\u8865\u5145\u8bf4\uff0c\u5982\u679c\u52a0\u606f\uff0c\u5f88\u53ef\u80fd\u4f1a\u63a8\u9ad8\u52a0\u5143\u6c47\u7387\uff0c\u800c\u592e\u884c\u66f4\u5e0c\u671b\u52a0\u5143\u7ef4\u6301\u5728\u5f53\u524d\u6c34\u5e73\uff0c\u751a\u81f3\u7565\u5fae\u504f\u5f31\uff0c\u56e0\u4e3a\u8fd9\u6709\u52a9\u4e8e\u7ecf\u6d4e\u5e73\u8861\u3002<\/p>\n<p>Davis\u8868\u793a\uff0c\u7531\u4e8e\u52a0\u62ff\u5927\u7ecf\u6d4e\u8868\u73b0\u4e0d\u4f73\u3001\u52a0\u5143\u75b2\u8f6f\uff0c\u672a\u6765\u53ef\u80fd\u4f1a\u6709\u66f4\u591a\u5168\u7403\u4f01\u4e1a\u9009\u62e9\u5728\u52a0\u62ff\u5927\u8bbe\u7acb\u4e1a\u52a1\uff0c\u4f8b\u5982\u5f00\u8bbe\u5236\u9020\u5de5\u5382\u3002<\/p>\n<p>\u5982\u679c\u52a0\u62ff\u5927\u52a0\u606f\uff0c\u52a0\u5143\u8d70\u5f3a\u4f1a\u6291\u5236\u56fd\u9645\u6295\u8d44\u8005\u7684\u5174\u8da3\u3002<\/p>\n<p>\u4ed6\u8bf4\uff1a\u201c\u6211\u786e\u5b9e\u8ba4\u4e3a\uff0c\u52a0\u62ff\u5927\u592e\u884c\u4f1a\u901a\u8fc7\u628a\u9694\u591c\u5229\u7387\u7ef4\u6301\u5728\u5bbd\u677e\u533a\u95f4\u3001\u4e5f\u5c31\u662f\u4f4e\u4e8e\u4e2d\u6027\u5229\u7387\u7684\u6c34\u5e73\uff0c\u6765\u4e3a\u7ecf\u6d4e\u63d0\u4f9b\u989d\u5916\u523a\u6fc0\u3002\u201d<\/p>\n<h4 class=\"content-style title-3\">\u4e30\u4e1a\u94f6\u884c\uff1a\u4ecd\u7136\u62c5\u5fe7\u901a\u80c0\u8d70\u52bf<\/h4>\n<p>\u4e30\u4e1a\u94f6\u884c\u9884\u8ba1\uff0c\u52a0\u62ff\u5927\u592e\u884c\u5c06\u57282026\u5e74\u4e0b\u534a\u5e74\u52a0\u606f50\u4e2a\u57fa\u70b9\u3002<\/p>\n<figure class=\"image\" data-attachment-id=\"6211293\" data-aspect-ratio=\"1.6814\" data-width=\"992\" data-height=\"590\">\n<img decoding=\"async\" src=\"https:\/\/p0.51img.ca\/i\/6949b34fa08be.png\"><\/figure>\n<p>\u8fd9\u5c06\u628a\u653f\u7b56\u5229\u7387\u63a8\u56de\u81f32.75%\uff0c\u5373\u4e2d\u6027\u5229\u7387\u533a\u95f4\u7684\u4e2d\u70b9\u3002\u4e30\u4e1a\u94f6\u884c\u9996\u5e2d\u7ecf\u6d4e\u5b66\u5bb6Jean-Fran\u00e7oisPerrault\u5bf9BNNBloomberg\u8868\u793a\uff1a\u201c\u6211\u4eec\u4ecd\u7136\u5bf9\u901a\u80c0\u7684\u5185\u5728\u8d70\u52bf\u611f\u5230\u62c5\u5fe7\u3002\u201d<\/p>\n<p>\u4ed6\u6307\u51fa\uff0c\u5de5\u8d44\u589e\u957f\u3001\u751f\u4ea7\u7387\u75b2\u5f31\u4ee5\u53ca\u8fd1\u671f\u52a0\u5143\u8d2c\u503c\uff0c\u90fd\u662f\u901a\u80c0\u538b\u529b\u7684\u4fe1\u53f7\u3002<\/p>\n<p>Perrault\u8868\u793a\uff0c\u53ea\u6709\u5728\u901a\u80c0\u660e\u663e\u8d70\u5f31\u6216\u7ecf\u6d4e\u589e\u957f\u663e\u8457\u653e\u7f13\u7684\u60c5\u51b5\u4e0b\uff0c\u592e\u884c\u624d\u53ef\u80fd\u4e0d\u52a0\u606f\u3002<\/p>\n<p>\u53e6\u4e00\u65b9\u9762\uff0c\u4ed6\u4e5f\u8ba4\u4e3a\uff0c\u5982\u679c\u603b\u7406\u548c\u5404\u7701\u7701\u957f\u63a8\u52a8\u7684\u7ecf\u6d4e\u8f6c\u578b\u6bd4\u9884\u671f\u66f4\u65e9\u89c1\u6548\uff0c\u79c1\u4eba\u6295\u8d44\u56de\u5347\uff0c\u6d88\u8d39\u8005\u72b6\u51b5\u6539\u5584\uff0c\u6c7d\u8f66\u548c\u623f\u5730\u4ea7\u5e02\u573a\u6301\u7eed\u590d\u82cf\uff0c2026\u5e74\u7684\u7ecf\u6d4e\u589e\u957f\u4e5f\u53ef\u80fd\u8d85\u51fa\u9884\u671f\u3002<\/p>\n<p>\u4ed6\u8bf4\uff1a\u201c\u5b8c\u5168\u4e0d\u52a0\u606f\u5e76\u4e0d\u662f\u4e0d\u53ef\u80fd\u3002\u201d<\/p>\n<h4 class=\"content-style title-3\">\u52a0\u62ff\u5927\u56fd\u5bb6\u94f6\u884c\uff1a\u56e0\u7ecf\u6d4e\u6570\u636e\u5f3a\u52b2\u800c\u8c03\u6574\u9884\u6d4b<\/h4>\n<p>\u52a0\u62ff\u5927\u56fd\u5bb6\u94f6\u884c\u540c\u6837\u9884\u8ba1\uff0c\u592e\u884c\u5c06\u5728\u660e\u5e74\u5e74\u5e95\u524d\u52a0\u606f50\u4e2a\u57fa\u70b9\u3002<\/p>\n<figure class=\"image\" data-attachment-id=\"6211292\" data-aspect-ratio=\"1.5122\" data-width=\"933\" data-height=\"617\">\n<img decoding=\"async\" src=\"https:\/\/p0.51img.ca\/i\/6949b34f8626d.png\"><\/figure>\n<p>\u8be5\u884c\u6b64\u524d\u539f\u672c\u9884\u8ba1\u52a0\u606f\u5c06\u57282027\u5e74\u624d\u4f1a\u53d1\u751f\u3002<\/p>\n<p>\u56fd\u5bb6\u94f6\u884c\u7b56\u7565\u5e08EthanCurrie\u5bf9BNNBloomberg\u8868\u793a\uff1a\u201c\u4f46\u8fd1\u671f\u7ecf\u6d4e\u6570\u636e\u5c55\u73b0\u51fa\u7684\u97e7\u6027\uff0c\u4fc3\u4f7f\u6211\u4eec\u5728\u6700\u65b0\u5b98\u65b9\u9884\u6d4b\u4e2d\u63d0\u524d\u4e86\u52a0\u606f\u65f6\u95f4\u3002\u201d<\/p>\n<p>Currie\u9884\u8ba1\uff0c\u52a0\u62ff\u5927\u56fd\u503a\u6536\u76ca\u7387\u5c06\u56e0\u5e02\u573a\u63d0\u524d\u6d88\u5316\u672a\u6765\u653f\u7b56\u6536\u7d27\u800c\u4e0a\u5347\uff0c\u800c\u592e\u884c\u77ed\u671f\u5185\u4ecd\u53ef\u80fd\u89c2\u671b\uff0c\u7ef4\u6301\u4f4e\u5229\u7387\u81f3\u5c11\u81f3\u660e\u5e74\u5e74\u4e2d\u3002<\/p>\n<p>\u4ed6\u8bf4\uff1a\u201c\u5982\u679c\u79ef\u6781\u7684\u7ecf\u6d4e\u52a8\u80fd\u6301\u7eed\uff0c\u77ed\u7aef\u5229\u7387\u5c06\u9010\u6b65\u4e0a\u884c\uff0c\u5728\u8fd9\u79cd\u73af\u5883\u4e0b\uff0c\u6536\u76ca\u7387\u66f2\u7ebf\u6e29\u548c\u8d8b\u5e73\u5c06\u662f\u6211\u4eec\u7684\u57fa\u51c6\u60c5\u5f62\u3002\u201d<\/p>\n<p>\u4ed6\u6307\u51fa\uff0c\u8be5\u884c\u9884\u6d4b\u9762\u4e34\u7684\u6700\u5927\u98ce\u9669\u6765\u81ea\u52b3\u52a8\u529b\u5e02\u573a\u51b2\u51fb\u6216CUSMA\u7684\u4e0d\u786e\u5b9a\u6027\u3002<\/p>\n<p>\u4ed6\u8bf4\uff1a\u201c\u8fd9\u4e24\u8005\u662f\u6700\u91cd\u8981\u7684\u4e0d\u786e\u5b9a\u56e0\u7d20\uff0c\u800c\u4e14\u5f7c\u6b64\u9ad8\u5ea6\u76f8\u5173\u3002\u201d<\/p>\n<h4 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src=\"https:\/\/p0.51img.ca\/i\/6949b35057762.png\"><\/figure>\n<p>CIBC\u9996\u5e2d\u7ecf\u6d4e\u5b66\u5bb6AveryShenfeld\u5bf9BNNBloomberg\u8868\u793a\uff0c\u592e\u884c\u4ecd\u7136\u5b58\u5728\u4e00\u4e2a\u7a97\u53e3\u671f\uff0c\u53ef\u4ee5\u5728\u4e0d\u663e\u8457\u63a8\u9ad8\u901a\u80c0\u7684\u60c5\u51b5\u4e0b\u66f4\u5927\u5e45\u5ea6\u5730\u964d\u606f\u3002<\/p>\n<p>\u4ed6\u8bf4\uff1a\u201c\u6574\u4f53\u7ecf\u6d4e\u4ecd\u7136\u76f8\u5f53\u75b2\u5f31\uff0c\u8fd9\u5bf9\u901a\u80c0\u5f62\u6210\u4e0b\u884c\u538b\u529b\u3002\u201d<\/p>\n<p>\u4ed6\u8fd8\u8868\u793a\uff0c\u6765\u81ea\u6d77\u5916\u5e02\u573a\u7684\u8fdb\u53e3\u4ef7\u683c\u9884\u8ba1\u4e5f\u5c06\u4fdd\u6301\u6e29\u548c\uff0c\u8fd9\u4e9b\u56e0\u7d20\u5171\u540c\u4e3a\u901a\u80c0\u63d0\u4f9b\u4e86\u7f13\u51b2\uff0c\u5e76\u4e3a\u901a\u8fc7\u66f4\u4f4e\u5229\u7387\u523a\u6fc0\u589e\u957f\u521b\u9020\u4e86\u7a7a\u95f4\u3002<\/p>\n<p>Shenfeld\u8ba4\u4e3a\uff0c\u592e\u884c\u76ee\u524d\u7684\u6001\u5ea6\u8f83\u4e3a\u8c28\u614e\uff0c\u66f4\u503e\u5411\u4e8e\u4f9d\u9760\u8d22\u653f\u523a\u6fc0\u6765\u63a8\u52a8\u7ecf\u6d4e\u3002<\/p>\n<p>\u4ed6\u8bf4\uff1a\u201c\u592e\u884c\u5bf9\u901a\u80c0\u6709\u4e9b\u8fc7\u4e8e\u7d27\u5f20\uff0c\u800c\u5bf9\u7ecf\u6d4e\u589e\u957f\u7684\u62c5\u5fe7\u8fd8\u4e0d\u591f\u3002\u201d<\/p>\n<p>\u4ed6\u8868\u793a\uff0c\u5982\u679c\u592e\u884c\u6700\u7ec8\u91c7\u53d6\u884c\u52a8\uff0c\u66f4\u53ef\u80fd\u662f\u964d\u606f\uff0c\u539f\u56e0\u53ef\u80fd\u662f\u7ecf\u6d4e\u589e\u957f\u4ee4\u4eba\u5931\u671b\uff0c\u6216\u901a\u80c0\u5f62\u52bf\u770b\u8d77\u6765\u8db3\u591f\u5e73\u7a33\u3002<\/p>\n<p>\u4ed6\u8865\u5145\u8bf4\uff0c\u4e0e\u5927\u578b\u8d44\u672c\u9879\u76ee\u76f8\u5173\u7684\u8d22\u653f\u653f\u7b56\uff0c\u5176\u6548\u679c\u9700\u8981\u65f6\u95f4\u624d\u80fd\u663e\u73b0\u3002<\/p>\n<h4 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