英国10年期国债收益率降至4.64%，反映了欧洲和美国的下跌，因为投资者在一周的央行决策和英国关键数据之前保持谨慎。预计英格兰银行周四将把利率维持在4%，同时放缓其1000亿英镑年度债券的解除速度。重点还将放在英国通胀、就业和零售销售数据上。8月份的CPI预计将保持在3.8%的同比水平，为18个月来的最高点，几乎是英国央行2%目标的两倍。预计英国央行将在下个季度和明年初再次降息。与此同时，人们普遍预计美联储将在周三降息25个基点，交易员预计到2025年底将至少再降息两次。

The UK’s 10-year gilt yield eased to 4.64%, mirroring declines in Europe and the US, as investors stayed cautious ahead of a packed week of central bank decisions and key UK data. The Bank of England is expected to hold rates at 4% on Thursday while slowing the pace of its £100 billion annual bond unwind. Focus will also be on UK inflation, jobs, and retail sales data. CPI for August is forecast to hold at 3.8% y/y, an 18-month high and nearly double the BoE’s 2% target. The BoE is projected to cut once next quarter and again early next year. Meanwhile, the Federal Reserve is widely expected to deliver a 25 bps cut on Wednesday, with traders pricing in at least two further cuts by end-2025.

英镑攀升至1.360美元以上，接近10周高点，市场正等待一周繁忙的央行决策和英国数据。预计英格兰银行周四将把政策利率保持在4%，并放缓其1000亿英镑年度债券的解除速度。周三公布的英国8月份通胀率预计为3.8%，与7月份的18个月高点持平。就业报告和零售额将在本周晚些时候公布。市场目前认为，英国央行在12月前降息的可能性为三分之一。与此同时，预计美联储周三将降息25个基点，交易员预计到2025年底至少还会降息两次。

The British pound climbed past $1.360, close to a 10-week high, as markets await a busy week of central bank decisions and UK data. The Bank of England is expected to hold its policy rate at 4% on Thursday and slow the pace of its £100 billion annual bond unwind. UK inflation for August, due Wednesday, is seen at 3.8% year-on-year, matching July’s 18-month high. The jobs report and retail sales will follow later in the week. Markets currently see a one-in-three chance of a BoE cut by December. Meanwhile, the Federal Reserve is expected to cut rates by 25 bps on Wednesday, with traders pricing in at least two further reductions by end-2025.

英镑公司进入央行决策的繁忙一周。周一，英镑兑美元和欧元上涨，投资者正在为一周的关键央行决策做准备，预计美联储将降息，英格兰银行将保持政策稳定。

Sterling firms heading into busy week of central bank decisions.Sterling gained against the dollar and the euro on Monday as investors braced for a week of pivotal central bank decisions in which the U.S. Federal Reserve is expected to cut interest rates and the Bank of England to hold policy steady.

富时指数周一持平下跌，落后于欧洲同行。英国电信在任命了来自顶级投资者Bharti Global的两名董事会成员后，股价暴跌超过4%。自Bharti去年加入以来，英国电信股价上涨了45%。阿斯利康下跌超过2%，葛兰素史克下跌约1%，弗雷斯尼洛下跌2%，因为中国疲软的数据打击了矿商。8月份的数据显示，中国的工业产出、消费和投资放缓幅度比预期的要大，这加剧了人们对进一步刺激以支持一个关键大宗商品市场增长的押注。从好的方面来看，塞恩斯伯里在确认以不利条款为由结束了将Argos出售给京东的谈判后，股价上涨了4.5%，达到四年来的最高点。分析师指出，这家零售商仍对出售持开放态度，这可能会将注意力重新集中在其有弹性的食品业务上，同时剥离一个陷入困境的部门。Argos出现新求婚者的可能性也提振了市场情绪。

The FTSE traded flat to lower on Monday, lagging European peers. BT slumped over 4% after appointing two board members from top investor Bharti Global, following a 45% share rally since Bharti’s entry last year. AstraZeneca dropped more than 2%, GSK fell about 1%, and Fresnillo lost 2% as softer Chinese data hit miners. August figures showed China’s industrial output, consumption, and investment slowing more sharply than expected, fueling bets on further stimulus to support growth in a key market for commodities. On the upside, Sainsbury’s jumped as much as 4.5% to a four-year high after confirming it ended talks to sell Argos to JD.com, citing unfavorable terms. Analysts noted the retailer remains open to a disposal, which could refocus attention on its resilient food business while shedding a struggling unit. The possibility of new suitors emerging for Argos also lifted sentiment.