一项新的研究发现，欧洲中央银行（ECB）官员的演讲和采访对市场的影响程度与该行正式的货币政策决定相当。这一发现凸显了央行沟通在金融市场中的重要性。
ECB speeches and interviews move markets as much as policy decisions, study finds A new study finds that speeches and interviews by European Central Bank officials can move markets as much as formal monetary policy decisions. The finding underscores the growing importance of central bank communication. A new study has found that speeches and interviews by European Central Bank officials can move markets as much as the bank's formal interest-rate decisions. Researchers found that the cumulative effect of officials' television and press remarks was comparable in scale to scheduled policy announcements.
研究人员发现，这些官员在电视和媒体上的言论所产生的综合影响，其规模与央行预先安排的政策公告相当。具体而言，欧洲央行行长及董事会成员的公开讲话会迅速引发债券收益率、欧元汇率以及股市的波动。这意味着投资者不仅需要密切关注央行的正式会议日程，还需要密切关注他们发布的每一条公开声明。
The study shows that comments from the ECB president and board members trigger rapid reactions in bond yields, the euro exchange rate, and equity markets. This means investors need to closely follow not just official meeting dates but every public statement from officials. Analysts said the finding further underscores the importance of central bank communication strategy. How the ECB's future remarks affect market volatility will continue to be closely watched by investors. Read next Japan struggles to fund Takaichi's budget without issuing new deficit bonds Japan's government is struggling to find a way to fund Prime Minister Sanae Takaichi's budget plan without issuing new deficit-financing bonds, highlighting tension between fiscal discipline pledges and spending ambitions. 10-year Treasury yield rockets to 19-year high on Fed rate-hike worry The US 10-year Treasury yield surged to its highest level in 19 years on Wednesday, as fresh services and manufacturing data deepened worry over further Federal Reserve rate hikes. The spike triggered selling pressure across equity markets. Yuan hits multi-year peak as PBOC eases curbs before Trump-Xi summit The yuan hit a fresh multi-year peak as China's central bank eased currency curbs ahead of the Trump-Xi summit. OCBC cautioned investors against interpreting the move as the start of a sustained appreciation cycle.
分析人士指出，这一发现进一步强调了央行沟通策略的重要性。未来欧洲央行的言论将如何影响市场波动，将继续受到投资者的密切关注。
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