欧元兑美元汇率在1.18美元左右，略低于本周早些时候达到的四年高点，因为美联储的政策决定使美元走强。正如预期的那样，美联储将基金利率下调了25个基点，并表示到年底将再下调50个基点。然而，鲍威尔主席强调，此举是“风险管理”削减，而不是新宽松周期的开始。在欧洲，欧洲央行上周连续第二次保持利率不变，这表明其降息周期可能已经结束。政策制定者继续强调谨慎：执行委员会成员伊莎贝尔·施纳贝尔敦促政策制定者“保持稳健”，理由是关税、服务通胀、食品价格和财政政策带来的风险。斯洛伐克央行行长彼得·卡齐米尔回应了这一警告，称淡化这些风险是“错误的”。2025年8月，欧元区的通货膨胀率降至2.0%，略低于初步估计的2.1%。
The euro traded around $1.18, slightly below the four-year highs reached earlier in the week, as the dollar firmed following the Fed’s policy decision. The Fed cut the funds rate by 25 bps, as expected, and signaled an additional 50 bps of reductions by year-end. However, Chair Powell emphasized that the move was a ‘risk management’ cut rather than the start of a new easing cycle. In Europe, the ECB left rates unchanged for a second consecutive meeting last week, suggesting its rate-cutting cycle may be over. Policymakers continued to stress caution: Executive board member Isabel Schnabel urged policymakers to “keep a steady hand,” citing risks from tariffs, services inflation, food prices, and fiscal policy. Slovak central bank governor Peter Kazimir echoed the warning, saying it would be “a mistake” to downplay these risks. Inflation in the Euro Area eased to 2.0% in August 2025, slightly below the preliminary estimate of 2.1%.
