周三，富时100指数下跌0.1%，至9440点左右，投资者在消化一系列喜忧参半的企业更新的同时，权衡了英国政府11月26日预算之前日益加剧的财政担忧和潜在的增税前景。财政大臣里夫斯表示，她正在考虑增税和削减开支，在借贷成本上升、福利削减取消和增长预测疲软的情况下，政府可能需要筹集约300亿英镑。与此同时，交易员加大了对英国央行和美联储降息的押注，尽管国际货币基金组织警告称，英国央行应谨慎行事，并警告称，到2026年，英国通胀率可能仍将是七国集团中最高的。在企业新闻方面，Entain在报告第三季度游戏收入疲软后下跌2.4%。相比之下，博柏利上涨3.1%，此前路威酩轩集团的销售额强于预期，表明奢侈品市场放缓可能有所缓解，而国际航空集团上涨0.6%，此前摩根士丹利开始报道“超重”评级。

The FTSE 100 slipped 0.1% to around 9,440 on Wednesday as investors weighed mounting fiscal concerns and the prospect of potential tax hikes ahead of the UK government’s November 26 budget, while digesting a series of mixed corporate updates. Chancellor Reeves said she is considering tax hikes and spending cuts, with the government likely needing to raise about £30 billion amid rising borrowing costs, scrapped welfare cuts, and weaker growth forecasts. Meanwhile, traders increased bets on interest rate cuts from both the BoE and the US Fed, even as the IMF cautioned that the BoE should proceed carefully, warning UK inflation will likely remain the highest in the G7 through 2026. In corporate news, Entain fell 2.4% after reporting weaker Q3 gaming revenue. In contrast, Burberry climbed 3.1% after stronger-than-expected sales from LVMH signaled a possible easing in the luxury slowdown, while IAG gained 0.6% after Morgan Stanley initiated coverage with an “Overweight” rating.

英镑/日元价格预测：由于市场风险，英镑回报率高于202.00。英镑/日元价格预测：由于市场风险，英镑回报率高于202.00

GBP/JPY Price Forecast: Pound returns above 202.00 on risk-on markets.GBP/JPY Price Forecast: Pound returns above 202.00 on risk-on markets

英镑：英国数据提供喜忧参半的信号，英国央行前景微妙平衡——MUFG。英镑：英国数据提供喜忧参半的信号，英国央行前景微妙平衡——MUFG

GBP: UK data provide mixed signals with BoE outlook finely balanced – MUFG.GBP: UK data provide mixed signals with BoE outlook finely balanced – MUFG

英国10年期国债收益率跌至4.553%，为十周来的最低水平，因为投资者在行长安德鲁·贝利发表鸽派言论后加大了对英格兰银行降息的押注。贝利警告称，英国经济运行“低于潜力”，劳动力市场显示出疲软迹象，截至8月的三个月内失业率上升至4.8%，为2021年5月以来的最高水平。他的言论强化了人们的预期，即英国央行最早可能在2月降息25个基点，并可能在2026年第三季度再次降息。贝利指出，持续的通胀风险与就业疲软之间的紧张关系日益加剧，这表明未来政策举措的时机仍不确定。与此同时，在财政大臣雷切尔·里夫斯11月26日的预算案之前，财政问题也成为人们关注的焦点，预计她将宣布削减开支和可能的增税，以重建财政空间并安抚债券投资者。

The UK 10-year gilt yield fell to 4.553%, the lowest in ten weeks, as investors increased bets on Bank of England rate cuts following dovish comments from Governor Andrew Bailey. Bailey warned that the UK economy is operating “below potential” and that the labor market is showing signs of softening, with unemployment rising to 4.8% in the three months to August, the highest since May 2021. His remarks reinforced expectations that the BoE could cut rates by 25 basis points as early as February, with another reduction likely by the third quarter of 2026. Bailey noted the growing tension between persistent inflation risks and weakening employment, suggesting the timing of future policy moves remains uncertain. Meanwhile, fiscal concerns are also in focus ahead of Chancellor Rachel Reeves’s November 26 budget, where she is expected to announce spending cuts and possible tax increases to rebuild fiscal headroom and reassure bond investors.