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央行在每次加息前都会发行定向三年期央票,当前CPI和PPI运行格局和资产价格上涨状况下,重启发行三年期央票不但不会降低市场加息预期,反而可能强化市场加息预期。
The central bank will issue a directional three-year central bank bills before each rate hike. Under the current CPI and PPI operating conditions and rising asset prices, the resumption of the issuance of the three-year central bank bills will not only reduce the market interest rate hike but may strengthen the market Interest expectations.