英国通胀降温超过预期，英镑下跌。周三，英国通胀报告公布后，英镑走低。在欧洲市场，英镑/美元交易价格为1.2897，下跌0.36%。

UK Inflation Cools More Than Expected, Pound Loses Ground.The British pound is lower on Wednesday following the UK inflation report. In the European session, GBP/USD is trading at 1.2897, down 0.36%.

英国通货膨胀使英镑降温。英国消费者通胀低于预期。年价格涨幅从3.0%放缓至2.8%。

UK Inflation Cools Down Pound.UK consumer inflation was weaker than expected. The annual rate of price increases slowed to 2.8% from 3.0%.

随着交易员消化最新的春季预算，英国10年期金边债券收益率小幅下跌至4.75%以下。英国债务管理办公室表示，将在4月开始的财政年度发行2992亿英镑的债券，比本财政年度最初计划的债券多20亿英镑，但低于约3040亿英镑的预测。英国财政大臣里夫斯还表示，预计2025年英国通胀率平均为3.2%，高于10月份的2.6%。英国2月份的年通货膨胀率降至2.8%，略低于预测的2.9%，但与英格兰银行的预测一致。与此同时，政府将2025年的增长预测从2%下调至1%，但提高了2026年（1.9%对秋季的1.8%）、2027年（1.8%对1.5%）、2028年（1.7%对1.5%）和2029年（1.8%比1.6%）的增长预测。

The UK’s 10-year gilt yield edged lower to below 4.75% as traders digest the latest Spring Budget. The UK's Debt Management office said it would issue £299.2 billion of bonds in the fiscal year starting April, £2 billion more than what was initially planned for the current fiscal year but less than forecasts of about £304 billion. British Finance Minister Reeves also said UK inflation is expected to average 3.2% in 2025, up from the 2.6% projected in October. The UK’s annual inflation rate eased to 2.8% in February, slightly below the forecasted 2.9% but in line with the Bank of England’s projections. Meanwhile, the government lowered its 2025 growth forecast to 1% from 2% but raised it for 2026 (1.9% vs 1.8% in the autumn), 2027 (1.8% vs 1.5%), 2028 (1.7% vs 1.5%) and 2029 (1.8% vs 1.6%).

周三，富时100指数保持上涨，主要原因是英国通胀意外降至2.8%后英镑走弱，提振了伦敦的海外收入者。然而，财政大臣雷切尔·里夫斯的春季声明几乎没有给投资者带来新的乐观情绪。许多重大公告，如福利和英国国家医疗服务体系的变化，已经众所周知，对市场的影响很小。最令人失望的是OBR修订后的英国增长预测，该预测将2024年的增长率从2%降至仅1%。这抑制了市场情绪，尤其是在住房领域，主要住宅建筑商的股价在复苏前转为负值。政府还承认，将达不到150万套住房的目标，将预期调整为130万套。投资者希望在规划改革方面采取更大胆的行动来刺激增长。与此同时，在里夫斯承诺增加支出后，英国宇航系统公司等国防类股反弹，而壳牌在战略更新后继续上涨。

The FTSE 100 held onto gains on Wednesday, driven primarily by a weaker pound after UK inflation unexpectedly fell to 2.8%, boosting London’s overseas earners. However, Chancellor Rachel Reeves’ Spring Statement provided little fresh optimism for investors. Many of the major announcements, such as welfare and NHS changes, were already well known and had minimal market impact. The biggest disappointment came from the OBR’s revised UK growth forecast, which was cut from 2% to just 1% for 2024. This dampened sentiment, particularly in the housing sector, where shares of major homebuilders turned negative before recovering. The government also admitted it would fall short of its 1.5 million homes target, revising expectations to 1.3 million. Investors were hoping for bolder action on planning reform to stimulate growth. Meanwhile, defence stocks like BAE Systems rebounded after Reeves pledged to increase spending, while Shell extended gains following its strategic update.