<p><img src="https://imageproxy.pbkrs.com/https://invezz-wp-media.lon1.digitaloceanspaces.com/2026/03/People-walking-infront-of-Bank-of-England.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://invezz-wp-media.lon1.digitaloceanspaces.com/2026/03/People-walking-infront-of-Bank-of-England.png"/></p>
<p>英格兰银行（BoE）在周四维持基准利率不变，但表示由于与中东冲突相关的能源价格上涨，通胀风险加大，态度更加鹰派。</p>
<p>九名成员的货币政策委员会（MPC）一致投票决定将利率保持在 3.75% 不变，这是四年来首次一致决定。</p>
<p>尽管经济学家们预期会出现分歧投票，但结果显示出政策制定者面临的高度不确定性。</p>
<h2>英格兰银行在通胀风险加剧时调整语气</h2>
<p>中央银行明确表示语气发生了变化，警告称由于影响全球能源市场的地缘政治发展，通胀前景恶化。</p>
<p>行长安德鲁·贝利强调了在管理通胀风险方面保持警惕的必要性。</p>
<p>贝利表示：“我们将利率保持在 3.75%，以评估事件的发展。无论发生什么，我们的工作是确保通胀回到 2% 的目标。”</p>
<p>他还警告说，如果能源驱动的通胀变得更加持久，政策制定者必须做好应对准备。</p>
<p>贝利指出，油气价格的上涨已经通过更高的汽油成本传导到英国经济，如果冲突持续，家庭能源账单预计将在今年晚些时候上涨。</p>
<p>英格兰银行现在预计通胀将在短期内加速至约 3.5%，高于之前的预测，反映出高企的能源价格的影响。</p>
<h2>市场预期加息，前景转向鹰派</h2>
<p>金融市场迅速对英格兰银行更加鹰派的立场做出反应。</p>
<p>交易员们提高了对更紧货币政策的预期，完全计入了今年至少两次加息 25 个基点的可能性，并增加了第三次加息的可能性。</p>
<p>政府债券收益率飙升，两年期国债收益率大幅上升，而英镑对美元汇率走强。</p>
<p>货币政策委员会还放弃了之前暗示的 “可能进一步降低利率” 的指导，强化了对近期放松预期的转变。</p>
<p>政策制定者表示，如果通胀压力持续，可能需要进一步采取行动。</p>
<p>货币政策委员会内部讨论突显出不同的观点。</p>
<p>凯瑟琳·曼建议可能需要加息以防止通胀固化，而首席经济学家休·皮尔表示如果风险加剧，他 “准备采取行动”。</p>
<p>与此同时，一些政策制定者仍然保持谨慎。艾伦·泰勒指出，考虑到能源价格的不确定性，加息的门槛仍然 “很高”。</p>
<h2>经济疲软使政策路径复杂化</h2>
<p>英格兰银行的政策决定是在国内经济疲软的背景下做出的，这为其抗击通胀的任务增添了复杂性。</p>
<p>最近的数据表明，工资增长放缓至 2020 年底以来的最低水平，而整体经济增长仍然疲软。</p>
<p>中央银行承认，尽管继续监测通胀风险，但劳动市场在最近几个季度已经放缓。</p>
<p>官员们强调，货币政策无法直接影响全球能源价格，但强调了所谓的二次效应的担忧，即更高的成本传导到工资和更广泛的价格压力中。</p>
<p>当前的情况让人联想到 2022 年俄罗斯入侵乌克兰后的能源冲击，尽管通胀仍远低于当时达到的 11.1% 的峰值。</p>
<p>经济学家指出，英格兰银行正在在控制通胀和支持增长之间寻求微妙的平衡。</p>
<p>随着能源价格上涨和地缘政治风险持续，英格兰银行似乎准备在评估冲突的经济影响时保持谨慎但日益鹰派的立场。</p>
<p>这篇文章的标题为 “英格兰银行维持利率，暗示加息，因中东战争推高通胀”，首次出现在 Invezz 上。</p>

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<p>英格兰银行（BoE）将利率维持在 3.75%，但由于中东冲突导致能源价格上涨，威胁到通货膨胀，显示出鹰派转变。货币政策委员会的一致决定标志着语气的显著变化，预计通货膨胀将上升至约 3.5%。金融市场对此作出反应，预期加息的可能性增加，而英格兰银行则承认经济疲软的复杂性，以及在管理通货膨胀风险方面需要保持警惕</p>

<p><img src="https://imageproxy.pbkrs.com/https://invezz-wp-media.lon1.digitaloceanspaces.com/2026/03/People-walking-infront-of-Bank-of-England.png" alt="" original-src="https://invezz-wp-media.lon1.digitaloceanspaces.com/2026/03/People-walking-infront-of-Bank-of-England.png"/></p>
<p>The Bank of England (BoE) held its benchmark interest rate steady on Thursday but signaled a more hawkish stance as rising energy prices linked to the Middle East conflict threaten to push inflation higher.</p>
<div class="lb-trans"><p>英格兰银行（BoE）在周四维持基准利率不变，但表示由于与中东冲突相关的能源价格上涨，通胀风险加大，态度更加鹰派。</p>
</div><p>The nine-member Monetary Policy Committee (MPC) voted unanimously to keep rates unchanged at 3.75%, marking its first unanimous decision in over four years.</p>
<div class="lb-trans"><p>九名成员的货币政策委员会（MPC）一致投票决定将利率保持在 3.75% 不变，这是四年来首次一致决定。</p>
</div><p>The outcome came despite expectations among economists of a split vote, underscoring the heightened uncertainty facing policymakers.</p>
<div class="lb-trans"><p>尽管经济学家们预期会出现分歧投票，但结果显示出政策制定者面临的高度不确定性。</p>
</div><h2>BOE shifts tone as inflation risks intensify</h2>
<div class="lb-trans"><h2>英格兰银行在通胀风险加剧时调整语气</h2>
</div><p>The central bank indicated a clear shift in tone, warning that the inflation outlook has worsened due to geopolitical developments affecting global energy markets.</p>
<div class="lb-trans"><p>中央银行明确表示语气发生了变化，警告称由于影响全球能源市场的地缘政治发展，通胀前景恶化。</p>
</div><p>Governor Andrew Bailey emphasized the need for vigilance in managing inflation risks.</p>
<div class="lb-trans"><p>行长安德鲁·贝利强调了在管理通胀风险方面保持警惕的必要性。</p>
</div><p>“We have held interest rates at 3.75% as we assess how events unfold,” Bailey said. “Whatever happens, our job is make sure inflation gets back to its 2% target.”</p>
<div class="lb-trans"><p>贝利表示：“我们将利率保持在 3.75%，以评估事件的发展。无论发生什么，我们的工作是确保通胀回到 2% 的目标。”</p>
</div><p>He also warned that policymakers must be prepared to respond if energy-driven inflation becomes more persistent.</p>
<div class="lb-trans"><p>他还警告说，如果能源驱动的通胀变得更加持久，政策制定者必须做好应对准备。</p>
</div><p>Bailey noted that rising oil and gas prices are already feeding through to the UK economy via higher petrol costs, with household energy bills expected to increase later this year if the conflict continues.</p>
<div class="lb-trans"><p>贝利指出，油气价格的上涨已经通过更高的汽油成本传导到英国经济，如果冲突持续，家庭能源账单预计将在今年晚些时候上涨。</p>
</div><p>The BoE now expects inflation to accelerate to around 3.5% in the near term, higher than previous forecasts, reflecting the impact of elevated energy prices.</p>
<div class="lb-trans"><p>英格兰银行现在预计通胀将在短期内加速至约 3.5%，高于之前的预测，反映出高企的能源价格的影响。</p>
</div><h2>Markets price in rate hikes as outlook turns hawkish</h2>
<div class="lb-trans"><h2>市场预期加息，前景转向鹰派</h2>
</div><p>Financial markets reacted swiftly to the BoE’s more hawkish stance.</p>
<div class="lb-trans"><p>金融市场迅速对英格兰银行更加鹰派的立场做出反应。</p>
</div><p>Traders ramped up expectations for tighter monetary policy, fully pricing in at least two quarter-point rate hikes this year and increasing the likelihood of a third.</p>
<div class="lb-trans"><p>交易员们提高了对更紧货币政策的预期，完全计入了今年至少两次加息 25 个基点的可能性，并增加了第三次加息的可能性。</p>
</div><p>Government bond yields surged, with two-year gilt yields rising sharply, while the British pound strengthened against the dollar.</p>
<div class="lb-trans"><p>政府债券收益率飙升，两年期国债收益率大幅上升，而英镑对美元汇率走强。</p>
</div><p>The MPC also dropped earlier guidance suggesting that rates were “likely to be reduced further,” reinforcing the shift away from expectations of near-term easing.</p>
<div class="lb-trans"><p>货币政策委员会还放弃了之前暗示的 “可能进一步降低利率” 的指导，强化了对近期放松预期的转变。</p>
</div><p>Policymakers signaled that further action could be necessary if inflation pressures persist.</p>
<div class="lb-trans"><p>政策制定者表示，如果通胀压力持续，可能需要进一步采取行动。</p>
</div><p>Internal discussions within the MPC highlighted a range of views.</p>
<div class="lb-trans"><p>货币政策委员会内部讨论突显出不同的观点。</p>
</div><p>Catherine Mann suggested that a rate hike could be required to prevent inflation from becoming entrenched, while Chief Economist Huw Pill said he was “ready to act” if risks intensified.</p>
<div class="lb-trans"><p>凯瑟琳·曼建议可能需要加息以防止通胀固化，而首席经济学家休·皮尔表示如果风险加剧，他 “准备采取行动”。</p>
</div><p>At the same time, some policymakers remained cautious. Alan Taylor noted that there remains “a high bar to hiking” given the uncertainty surrounding energy prices.</p>
<div class="lb-trans"><p>与此同时，一些政策制定者仍然保持谨慎。艾伦·泰勒指出，考虑到能源价格的不确定性，加息的门槛仍然 “很高”。</p>
</div><h2>Economic weakness complicates policy path</h2>
<div class="lb-trans"><h2>经济疲软使政策路径复杂化</h2>
</div><p>The BoE’s policy decision comes against a backdrop of a weakening domestic economy, adding complexity to its inflation-fighting mandate.</p>
<div class="lb-trans"><p>英格兰银行的政策决定是在国内经济疲软的背景下做出的，这为其抗击通胀的任务增添了复杂性。</p>
</div><p>Recent data showed wage growth slowing to its lowest pace since late 2020, while broader economic growth remains subdued.</p>
<div class="lb-trans"><p>最近的数据表明，工资增长放缓至 2020 年底以来的最低水平，而整体经济增长仍然疲软。</p>
</div><p>The central bank acknowledged that the labor market has softened in recent quarters, even as it continues to monitor inflation risks.</p>
<div class="lb-trans"><p>中央银行承认，尽管继续监测通胀风险，但劳动市场在最近几个季度已经放缓。</p>
</div><p>Officials stressed that monetary policy cannot directly influence global energy prices, but highlighted concerns about so-called second-round effects, where higher costs feed into wages and broader price pressures.</p>
<div class="lb-trans"><p>官员们强调，货币政策无法直接影响全球能源价格，但强调了所谓的二次效应的担忧，即更高的成本传导到工资和更广泛的价格压力中。</p>
</div><p>The current situation has drawn comparisons to the 2022 energy shock following Russia’s invasion of Ukraine, though inflation remains far below the peak of 11.1% reached at that time.</p>
<div class="lb-trans"><p>当前的情况让人联想到 2022 年俄罗斯入侵乌克兰后的能源冲击，尽管通胀仍远低于当时达到的 11.1% 的峰值。</p>
</div><p>Economists noted that the BoE is navigating a delicate balance between controlling inflation and supporting growth.</p>
<div class="lb-trans"><p>经济学家指出，英格兰银行正在在控制通胀和支持增长之间寻求微妙的平衡。</p>
</div><p>With energy prices rising and geopolitical risks persisting, the BoE appears set to maintain a cautious but increasingly hawkish stance as it assesses the evolving economic impact of the conflict.</p>
<div class="lb-trans"><p>随着能源价格上涨和地缘政治风险持续，英格兰银行似乎准备在评估冲突的经济影响时保持谨慎但日益鹰派的立场。</p>
</div><p>The post BOE holds rates, signals hikes as Middle East war lifts inflation appeared first on Invezz</p>
<div class="lb-trans"><p>这篇文章的标题为 “英格兰银行维持利率，暗示加息，因中东战争推高通胀”，首次出现在 Invezz 上。</p>
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BOE holds rates, signals hikes as Middle East war lifts inflation

- 英格兰银行维持基准利率 3.75% 不变。  
- 由于中东冲突导致能源价格上涨，通胀风险加大。  
- 市场预期至少两次加息，以应对通胀压力。

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英国央行维持利率不变，并暗示由于中东战争推高通胀，可能会加息