澳大利亚10年期政府债券收益率攀升至4.45%左右，强劲的私营部门活动数据强化了澳大利亚储备银行对货币政策的克制态度。3月份，制造业出现了两年多来最快的扩张，而服务业的增长也有所回升。此前，本月早些时候公布了强劲的GDP数据，年度和季度数据均超过预测。稳健的经济表现与澳大利亚储备银行上周的鹰派信号相吻合，助理行长Sarah Hunter重申，央行在进一步降息方面仍比市场更加谨慎，同时强调需要监控美国的政策决定及其对澳大利亚通胀的潜在影响。降息预期仍存在分歧，一些分析师预计最早将于5月降息，而另一些分析师则预计将于7月或8月降息。

Australia’s 10-year government bond yield climbed to around 4.45% as robust private sector activity data reinforced the RBA’s restrained approach to monetary policy. In March, the manufacturing sector saw its fastest expansion in over two years, while services sector growth also picked up. This follows strong GDP data earlier in the month, with both annual and quarterly figures surpassing forecasts. The solid economic performance aligns with the RBA’s hawkish signals last week, with Assistant Governor Sarah Hunter reiterated that the central bank remains more cautious than markets on further rate cuts, while emphasizing the need to monitor US policy decisions and their potential impact on Australian inflation. Rate cut expectations remain divided, with some analysts anticipating a move as early as May, while others foresee it happening in July or August.