澳大利亚10年期政府债券收益率升至4.35%左右，在储备银行做出政策决定后，回升至三周高点。澳大利亚储备银行如预期般将现金利率稳定在3.60%，同时重申其依赖数据的方法。持续的通胀风险——8月份3%的印刷品突显了这一点，这是自2024年7月以来的最高水平——以及第二季度1.8%的GDP增长，这是2023年9月以来的最快增长，这为银行提供了将政策重点放在抑制价格压力上的空间。澳大利亚储备银行还指出了私人需求复苏的迹象，并警告称，即使在今年降息75个基点后，通胀仍可能保持粘性。这与州长米歇尔·布洛克最近的谨慎立场大致一致，她指出，全球环境仍然高度不确定，尽管如果国际事态发展对澳大利亚经济产生重大影响，货币政策将很好地做出回应。

Australia’s 10-year government bond yield rose to around 4.35%, moving back toward a three-week high, following the Reserve Bank’s policy decision. The RBA kept its cash rate steady at 3.60% as expected, while reiterating its data-dependent approach. Persistent inflation risks—underscored by August’s 3% print, the highest since July 2024—and Q2 GDP growth of 1.8%, the fastest since September 2023, gave the bank room to keep policy focused on curbing price pressures. The RBA also pointed to signs of recovering private demand and warned that inflation could remain sticky, even after cutting rates by 75 bps this year. This broadly aligns with Governor Michelle Bullock’s recent cautious stance, as she noted that the global environment remains highly uncertain, though monetary policy is well placed to respond if international developments materially affect Australia’s economy.

澳元因澳大利亚储备银行鹰派倾向而飙升，尽管数据疲软，日元仍受到支撑。澳大利亚储备银行将政策维持在3.60%不变，但发表了一份倾向鹰派的声明后，澳元普遍上涨。交易员们很快注意到，该行警告称，8月份第三季度通胀可能强于预期，这提醒人们，通货紧缩的道路仍远未确定。

Aussie Surges on RBA Hawkish Tilt, Yen Supported Despite Data Weakness.Aussie rallied broadly after the RBA left policy unchanged at 3.60% but issued a statement that leaned hawkish. Traders were quick to note the Bank's warning that Q3 inflation may come in stronger than projected in August, a reminder that the disinflation path remains far from assured.

周二，澳元上涨至0.660美元左右，标志着连续第三个交易日上涨，投资者消化了澳大利亚储备银行的最新货币政策决定。央行将现金利率维持在3.6%，与市场预期一致，并将利率维持在2023年4月以来的最低水平。董事会指出，第二季度的总体通胀率和削减后的平均通胀率均保持在2-3%的目标范围内，尽管早期迹象表明第三季度的通胀率可能超过预期。此外，围绕国内增长和通胀的不确定性持续存在，促使央行保持谨慎立场。在国内方面，8月份私营部门信贷增长与市场预期一致，但与上月相比略有放缓，而住宅批准总量下降速度较慢，但仍超出预期。在外部，由于对美国政府可能停摆的担忧日益加剧，澳元因美元走软而获得额外支撑。

The Australian dollar rose to around $0.660 on Tuesday, marking its third straight session of gains as investors digested the Reserve Bank of Australia's latest monetary policy decision. The central bank held the cash rate at 3.6%, aligning with market expectations and keeping rates at its lowest level since April 2023. The board noted that both headline and trimmed mean inflation remained within the 2–3% target in Q2, though early signs suggest Q3 inflation could exceed forecasts. Moreover, the uncertainties surrounding domestic growth and inflation persist, prompting the central bank to maintain a cautious stance. On the domestic front, the private sector credit growth in August aligned with market expectations but eased slightly compared to the previous month, while total dwelling approvals declined at a slower pace yet defied expectations. Externally, the Aussie dollar gained additional support from a weaker greenback amid growing concerns over a potential US government shutdown.

澳大利亚央行保持利率稳定，对通胀持谨慎态度。澳大利亚央行周二将其现金利率稳定在3.60%，正如预期的那样，表示最近的数据表明，第三季度的通货膨胀率可能高于预期，经济前景仍不确定。

Australia's central bank holds rates steady, cautious on inflation.Australia's central bank on Tuesday left its cash rate steady as expected at 3.60%, saying recent data suggested inflation might be higher than forecast in the third quarter and that the economic outlook remained uncertain.