QE再出发,一场全球范围内的货币宽松已经成形。
央行们急着放水为哪般?全球贸易前景存在着重大不确定性,而此触发了企业的担心,情绪类调查指标近月明显下滑。货币当局预告已久的通货膨胀在全球范围内爽约,CPI距离政策目标渐行渐远,通胀预期的改变可能进一步放慢企业投资和居民消费的步伐。
QE原本是权宜之计,旨在稳定市场、提振信心,为接下来的结构改革唱前戏。不料前戏唱完,主角却迟迟未现,面对鼓噪的观众,前戏配角勉为其难地再唱一次。十年的改革窗口期白白地浪费了!
QE已经成为央行的常规政策工具。如此环境下,现金缩水,资产为王。
Edited 28 Jun 2019, 12:56
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