澳大利亚10年期政府债券收益率升至4.4%左右，创下两个多月来的最高水平，此前澳大利亚储备银行副行长Andrew Hauser表示，货币政策面临不同寻常的挑战，并强调需要保持紧缩的条件以遏制通胀。豪瑟指出，去年GDP增长加速时，需求“略”高于潜在水平，这反映了自20世纪80年代初以来最为紧张的复苏，如果不重新引发通胀压力，扩张空间很小。本月早些时候，由于持续的潜在通胀，澳大利亚储备银行将政策利率维持在3.6%。市场在很大程度上仍预计明年5月将再次降息，尽管一些分析师警告称，宽松周期可能已经结束。

Australia’s 10-year government bond yield rose to around 4.4%, marking its highest level in more than two months after Reserve Bank of Australia Deputy Governor Andrew Hauser said monetary policy faces an unusual challenge and emphasized the need to keep conditions tight to contain inflation. Hauser noted that demand was “slightly” above potential when GDP growth accelerated last year, reflecting the tightest recovery since the early 1980s and leaving little room for expansion without reigniting inflation pressures. Earlier this month, the RBA held its policy rate at 3.6% amid persistent underlying inflation. Markets still largely expect one more rate cut by May next year, though some analysts warn the easing cycle may already have ended.

澳元攀升至0.65美元以上，接近一周高点，此前澳大利亚储备银行副行长Andrew Hauser指出，货币政策面临不同寻常的挑战，并强调需要保持紧缩政策以遏制通胀。豪瑟补充说，去年GDP增长加速时，需求“略”高于潜在水平，这标志着自20世纪80年代初以来最为紧张的复苏，如果不重新引发通货膨胀，几乎没有扩张的空间。本月早些时候，由于持续的潜在价格压力，澳大利亚储备银行将政策利率维持在3.6%。市场普遍预计，明年5月可能会再次降息，尽管一些分析师警告称，宽松周期可能已经结束。澳元也受到风险情绪改善的支撑，市场希望美国政府结束创纪录的长期停摆，缓解美中贸易紧张局势。

The Australian dollar climbed above $0.65, nearing one-week highs, after Reserve Bank of Australia Deputy Governor Andrew Hauser noted that monetary policy faces an unusual challenge and emphasized the need to keep policy tight to contain inflation. Hauser added that demand was “slightly” above potential when GDP growth accelerated last year, marking the tightest recovery since the early 1980s and leaving little room for expansion without reigniting inflation. Earlier this month, the RBA held its policy rate at 3.6% amid persistent underlying price pressures. Markets largely expect one more rate cut, likely by May next year, though some analysts warn the easing cycle may already be over. The Aussie was also supported by improved risk sentiment on hopes for an end to the record-long US government shutdown and easing US-China trade tensions.

澳大利亚储备银行豪瑟发表谨慎言论后，澳元获得支撑。澳大利亚储备银行豪瑟发表谨慎言论后，澳元获得支撑

Australian Dollar receives support following cautious remarks from RBA Hauser.Australian Dollar receives support following cautious remarks from RBA Hauser

澳大利亚储备银行副行长Andrew Hauser周一在一次演讲中表示，澳大利亚的货币政策面临着一个棘手的阶段，因为经济复苏始于需求已经超过潜在产出，短期宽松的空间很小。他指出，去年GDP增长回升时，需求“略”高于潜在水平，这是自20世纪80年代初以来最为紧张的复苏，这意味着在不引发通货膨胀的情况下扩张的空间有限。豪瑟说：“这仍然可以与将通货膨胀率恢复到目标水平相一致……但要实现这一目标，就需要政策具有足够的限制性，以不断缩小差距。”。上周，在消费者需求强劲和住房反弹的情况下，央行将利率维持在3.6%，这表明在今年三次降息后持谨慎态度。由于产能限制持续存在，通货膨胀率预计至少在2026年中期之前高于2-3%的目标。豪泽敦促提高生产率和投资，并警告说，如果没有它，“我们可能会发现自己陷入困境。”

Australia’s monetary policy faces a tricky phase as the economy’s recovery began with demand already exceeding potential output, leaving little room for near-term easing, the Reserve Bank Deputy Governor Andrew Hauser said in a speech on Monday. He noted demand was “slightly” above potential when GDP growth picked up last year, the tightest recovery since the early 1980s, meaning limited scope to expand without stoking inflation. “That can still be consistent with bringing inflation back to target... but achieving that goal will require policy to be restrictive enough to keep shrinking the gap,” Hauser said. The central bank kept rates at 3.6% last week amid firm consumer demand and a housing rebound, signaling caution after three cuts this year. Inflation is seen above the 2–3% target until at least mid-2026 as capacity constraints persist. Hauser urged boosting productivity and investment, warning that without it, “we may find ourselves boxed in on the rail.”