周二，澳元贬值至0.651美元以上，触及一个多月来的最低水平，因为美国和中国之间的紧张局势再次加剧，打压了市场情绪。中国对韩国造船商韩华海洋的五家美国子公司实施制裁，加剧了世界两大经济体之间的贸易摩擦。此举恰逢两国实施互惠港口费，尽管中国豁免了国内建造的船只。在货币政策方面，澳大利亚储备银行10月份会议的纪要显示，董事会认为没有必要立即进一步调整利率。尽管如此，澳大利亚储备银行强调，对未来的任何政策举措都要采取谨慎、依赖数据的态度。与此同时，澳大利亚国民银行商业信心指数在2025年9月升至7，从前一个月的3个月低点4回升，并保持在长期平均水平之上。

The Australian dollar depreciated past $0.651 on Tuesday, hitting its lowest level in over a month as renewed tensions between the US and China weighed on market sentiment. China imposed sanctions on five US-affiliated subsidiaries of South Korean shipbuilder Hanwha Ocean, escalating trade frictions between the world’s two largest economies. The move coincided with the implementation of reciprocal port fees by both nations, although China exempted vessels constructed domestically. On the monetary policy front, minutes from the Reserve Bank of Australia's October meeting revealed that the board saw no immediate need for further interest rate adjustments. Nonetheless, the RBA emphasized a cautious, data-dependent approach to any future policy moves. Meanwhile, Australia's NAB Business Confidence Index rose to 7 in September 2025, picking up from a three-month low of 4 in the previous month and remaining above its long-term average.

澳元/日元跌至98.50附近，澳大利亚储备银行对未来降息持谨慎态度。澳元/日元跌至98.50附近，澳大利亚储备银行对未来降息持谨慎态度

AUD/JPY tumbles to near 98.50 as RBA cautious over future rate cuts .AUD/JPY tumbles to near 98.50 as RBA cautious over future rate cuts 

澳大利亚10年期债券收益率在4.30%左右，在澳大利亚储备银行重申央行对货币政策的谨慎态度后，短暂触及三周低点，从而减少了早些时候的损失。9月份的会议纪要表明，政策制定者并不急于调整利率，认为目前的现金利率具有适当的限制性。官员们表示，最近的数据和预测支持保持政策不变，未来的举措取决于经济状况。讨论还强调了持续的通胀压力，7月和8月的CPI高于预期，而官员们表示，服务和住房成本的上升可能会推高第三季度的通胀。市场最近降低了对近期降息的预期，分析师指出，澳大利亚储备银行似乎处于宽松周期的末尾。与此同时，随着市场追踪到美中贸易紧张局势缓和的迹象，风险情绪略有改善。

Australia’s 10-year bond yield traded around 4.30%, trimming earlier losses after briefly hitting a three-week low, following minutes from the RBA that reaffirmed the central bank’s cautious approach to monetary policy. The September meeting notes indicated policymakers are in no rush to adjust rates, viewing the current cash rate as appropriately restrictive. Officials said recent data and forecasts support keeping policy unchanged, with future moves dependent on economic conditions. Discussions also highlighted persistent inflation pressures, with July and August CPI above expectations, while officials flagged higher costs in services and housing could push Q3 inflation higher. Markets have recently scaled back expectations for a near-term rate cut, with analysts noting the RBA appears at the end of its easing cycle. Meanwhile, risk sentiment improved slightly as markets tracked signs of easing US-China trade tensions.

周二，澳元稳定在0.651美元左右，因为澳大利亚储备银行10月份会议纪要显示，央行认为没有进一步降息的紧迫性。澳大利亚储备银行在上个月下调25个基点后，于2025年9月将现金利率保持在3.6%，将借贷成本保持在2023年4月以来的最低水平。央行指出，货币政策仍然有些限制性，但早期宽松政策的全部影响仍在渗透到经济中，正如房价上涨和信贷增长所表明的那样。然而，会议纪要也突显了持续的经济风险，在就业和工资增长疲软的情况下，家庭消费仍然疲软。尽管如此，董事会重申，未来的政策决定将保持谨慎，并坚定地以即将公布的数据为指导。在经济方面，澳大利亚国民银行商业信心指数从8月份的三个月低点4升至2025年9月的7，仍高于长期平均水平。

The Australian dollar stabilized around $0.651 on Tuesday, as minutes from the Reserve Bank of Australia's October meeting indicated that the central bank saw no urgency for additional rate cuts. The RBA held its cash rate at 3.6% in September 2025, following a 25bps cut in the previous month, keeping borrowing costs at its lowest since April 2023. The central bank noted that monetary policy remains somewhat restrictive, but the full effects of earlier easing are still filtering through the economy, as seen in rising housing prices and credit growth. However, the minutes also highlighted ongoing economic risks, with household consumption remaining weak amid subdued job and wage growth. Nevertheless, the board reiterated that future policy decisions will remain cautious and firmly guided by incoming data. On the economic front, Australia's NAB Business Confidence Index rose to 7 in September 2025, up from a three-month low of 4 in August, remaining above its long-term average.