雙語閱讀:美聯儲升息25基點至4.25%

美聯儲升息25基點至4.25%

Fed lifts rates 25 points to 4.25%

美聯儲(Fed)將隔夜利率提高0.25個百分點至4.25%，並表示未來可能還會升息，但可能正接近其25個基點連續升息週期的終點。

The Federal Reserve increased overnight rates by a quarter point to 4.25 per cent and signalled there may be more rises to come but that it may be nearing the end of its cycle of automatic quarter point increases.

聯邦公開市場委員會(FOMC)在週二宣告中表示，“可能需要進一步有節制地收緊政策，以保持實現經濟可持續增長和物價穩定兩者的風險基本平衡”。

In its statement on Tuesday, the Federal Open Market Committee said “some further measured policy firming is likely to be needed to keep the risks to the attainment of both sustainable economic growth and price stability roughly in balance”.

這是自美聯儲去年6月開始其緊縮戰略以來第13次升息，而目前經濟增長強勁，通脹壓力也得到了控制。

It is the 13th consecutive rate rise since Fed began its strategy of tightening in June last year amid robust economic growth and contained inflationary pressures.

美聯儲主要擔憂的是，假如企業開始將上升的`成本轉嫁給消費者，則能源成本上升可能對通貨膨脹造成影響。迄今為止的跡象表明，製造商已基本上消化了價格的上漲。

The Fed’s main concern has been the possible inflationary impact of higher energy costs should businesses start passing on higher costs to consumers. Signs so far indicate that manufacturers have been largely absorbing the price increases.

聯邦公開市場委員會一致贊成最新升息行動。該委員會在宣告中表示，通脹仍有回升可能，並表示，它需要有對經濟形勢意外變化採取行動的餘地。“近幾個月，核心通貨膨脹維持在相對低水平，且長期通脹預期仍然得到抑制。然而，資源利用的可能增加，以及能源價格高企，具有加大通脹壓力的可能。”

In its statement, the FOMC, which voted for the latest rate rise unanimously, said there was still potential for inflation to take hold and it signalled it wanted scope to act to unexpected changes in economic conditions: “Core inflation has stayed relatively low in recent months and longer-term inflation expectations remain contained. Nevertheless, possible increases in resource utilization as well as elevated energy prices have the potential to add to inflation pressures.”

該委員會補充指出，它將“對經濟前景的變化作出必要反應”，以支援經濟可持續增長與物價穩定之間的大體平衡。

It added that it would “respond to changes in economic prospects as needed” to foster a rough balance between sustainable economic growth and price stability.

在美聯儲升息決定出臺後，美國國債幾分鐘內應聲大漲，收益率下降，原因是投資者預期，這一輪貨幣緊縮週期已接近尾聲。

Treasuries rallied and yields fell in the minutes following the Fed’s decisions on expectations the monetary tightening cycle was near its end.

同時，美元兌歐元、英鎊及日元溫和下挫，美國主要股指均告上揚。

Meanwhile, the dollar suffered modest declines against the euro, the pound and the yen as the main US stock indices advanced.

在宣告中，聯邦公開市場委員會放棄了它通常提到的“政策適應”(policy accommodation)，表明它“的升息程序多少已經過半”，Argus Research首席經濟學家理查德·亞麥隆(Richard Yamarone)說。“我們認為，美聯儲無法對能源價格高企損害經濟的效應視而不見。”

In its statement, the FOMC dropped its usual reference to “policy accommodation,” suggesting it is “somewhat past the midway point in its rate hike campaign”, said Richard Yamarone, chief economist at Argus Research. “We believe that the Fed simply cannot turn a blind eye to the economically-compromising effects of elevated energy prices.”