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智库NIESR称英格兰银行应对通胀举措“恐导致利率维持高位更久”Bank of England’s inflation response ‘risks higher interest rates for longer’

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英国央行的货币政策委员会上周将借贷成本从3.75%上调至4%,并暗示还将有一次加息。摄影:阿梅尔·加扎勒/ShutterstockThe Bank’s monetary policy committee increased the cost of borrowing from 3.75% to 4% last week and hinted at another rise to come. Photograph: Amer Ghazzal/Shutterstock

英国国家经济与社会研究所(NIESR)这一领先智库指出,英国央行对通胀上升的犹豫应对,正冒着令利率维持在更高水平更长时间的风险。

The Bank of England is risking higher interest rates for longer after a hesitant response to rising inflation according to leading thinktank.

该智库在一份措辞严厉的批评报告中表示,央行上周胆怯地加息,恐将导致通胀率至少维持在央行2%目标之上,直至2030年。

In a searing critique of the central bank's tactics, the National Institute of Economic and Social Research (Niesr) said a timid increase in interest rates last week was likely to mean inflation staying above the Bank's 2% target until at least 2030.

智库称,除非央行采取更强硬行动,否则通胀恐将成为英国经济更持久的特征。央行货币政策委员会(MPC)上周将借贷成本从3.75%上调至4%,并暗示将再次加息,以应对伊朗战争引发的通胀压力。

The thinktank said inflation was likely to become a more persistent feature of the UK economy unless the Bank took tougher action The Bank's monetary policy committee increased the cost of borrowing from 3.75% to 4% last week and hinted at another increase to combat inflationary pressure unleashed by the Iran war.

NIESR所长戴维·艾克曼敦促英格兰银行在遏制通胀方面采取更激进措施,称所有条件已具备,足以让工人要求与通胀挂钩的薪资涨幅。

The director of the Niesr, David Aikman, urged the Bank of England to be more aggressive in tackling inflation, saying all the ingredients were in place for workers to demand inflation-linked salary rises.

他说:“通胀料将在明年升至4%以上,正值2027年大多数薪资协议敲定之际,通胀固化的风险正在上升。

"Inflation is set to rise above 4% in the new year, just as most pay awards for 2027 are being agreed, so the risk that it becomes embedded is rising.

“再加息25个基点恐怕不够,货币政策委员会等待的时间越长,最终将不得不采取的行动就越大。” 英国通胀率目前为3.5%,远高于央行2%的目标,主要受燃料成本飙升推动。自2月底美国和以色列对伊朗发动战争以来,石油和天然气价格大幅上涨。

"One further quarter-point rise is unlikely to be enough, and the longer the MPC waits, the more it will eventually need to do." UK inflation stands at 3.5%, well above the Bank's 2% target, driven higher by the soaring cost of fuel. Oil and gas prices have risen sharply since the end of February, when the US and Israel launched their war on Iran.

近几周布伦特原油持续在每桶100美元以上交易——战前约为70美元——但周二一度跌破90美元,为8月31日以来最低,此前唐纳德·特朗普淡化了“此时”对伊朗采取军事行动的必要性。

Brent crude oil has persistently traded at more than $100 a barrel in recent weeks – compared with about $70 before the war – but on Tuesday it traded below $90 at one point, the lowest since 31 August, after Donald Trump downplayed the need for military action against Iran "at this point".

投资者在得知美国通胀率从9月到10月攀升了0.4个百分点后,收敛了热情,这表明高昂的石油和天然气价格仍在持续推高成本。标普500指数在华尔街早盘下跌了0.9%。

Investors, however, reined in their enthusiasm after US inflation climbed by 0.4 percentage points from September to October revealing that high oil and gas prices were continuing to drive up costs. The S&P 500 index of leading US companies was down 0.9% by early afternoon on Wall Street.

英国国家经济社会研究所(Niesr)表示,其对英国和全球经济增长的预测是基于每桶105美元的油价。然而,该所警告称,尽管油价已有所下跌,但由于航运和炼油持续面临困难,消费者价格将缓慢下降。

The Niesr said its forecasts for growth in the UK and the global economy were based on oil prices at $105 a barrel. However, it cautioned that while prices had dropped, continued difficulties shipping and refining meant consumer prices would decline slowly.

该研究所经济学家斯蒂芬·米勒德表示,较低的油价还取决于特朗普是否坚持其新政策。“我们以前见过他改变主意,”他说。

Stephen Millard, an economist at the institute, said the lower oil price was also dependent on Trump sticking to his new policy. "We've seen him change his mind before," he said.

英国国家经济社会研究所预计,英国经济今年将增长1.6%,但2028年仅增长0.9%,因为高通胀、高利率和紧缩的政府支出正在打击消费者和企业信心。

The Niesr expects the UK economy to grow by 1.6% this year, but by only 0.9% in 2028 as high inflation, high interest rates and tight government spending take a toll on consumer and business confidence.

财政大臣约翰·希利因在上个月的预算中推迟艰难决定而受到批评,该研究所表示,如果重复过去十年的这种做法模式并延续到明年,将在政府财政中留下300亿英镑的缺口。

The chancellor, John Healey, was criticised for deferring difficult decisions in the budget last month, which the institute said would leave a £30bn hole in the government's finances if the pattern of doing so over the last decade was repeated next year.

艾克曼表示,如果政府支出在国防等领域飙升而未在其他方面节省开支,金融市场将通过提高对英国的贷款价格来惩罚财政部。

Aikman said financial markets would punish the Treasury by raising the price of loans to the UK if it became clear that government spending was going to soar in areas such as defence without savings being made elsewhere.

他说,更高的能源价格和不断上升的全球借贷成本构成了“双重打击”,但这并未得到解决。

He said there was a "double whammy" from higher energy prices and rising global borrowing costs that was not being addressed.

“这些压力反映了全球事态发展,无法避免,”他说。“货币和财政政策如何应对它们是国内的选择,而在这两个方面,决策都在被推迟。”

"Those pressures reflect global developments and cannot be avoided," he said. "How monetary and fiscal policy respond to them is a domestic choice, and on both fronts decisions are being deferred."

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