<div class=lexical__image center><div class=lexical__imageWrapper><img src=https://d2a6d2ofes041u.cloudfront.net/resize?norotation=true&url=https%3A%2F%2Fimages.unsplash.com%2Fphoto-1569705460033-cfaa4bf9f822%3Fcrop%3Dentropy%26cs%3Dsrgb%26fm%3Djpg%26ixid%3DM3wyNTY4N3wwfDF8c2VhcmNofDJ8fGNlbGVicmF0ZXxlbnwwfHx8fDE2OTQ2NzcwOTB8MA%26ixlib%3Drb-4.0.3%26q%3D85&width=1110&sign=oB8JlBfXGI-mAaD838687yvepD0i2_nknseStZ7y40o data-original-src=https://images.unsplash.com/photo-1569705460033-cfaa4bf9f822?crop=entropy&cs=srgb&fm=jpg&ixid=M3wyNTY4N3wwfDF8c2VhcmNofDJ8fGNlbGVicmF0ZXxlbnwwfHx8fDE2OTQ2NzcwOTB8MA&ixlib=rb-4.0.3&q=85 data-width=4019 data-height=3166 alt=image><div class=lexical__image_source> Dent on Unsplash</a></div></div><div class=captionTheme__wrapper><p class=captionTheme__paragraph></p></div></div><p class=lexical__paragraph dir=ltr><span>又捱過一次 CPI 數據 ! 八月 CPI 雖然稍為見升溫但還是在聯儲局預期之內。九月議息不加息相信也沒懸念,而越來越多人相信本次加息週期已完結了。</span></p><h3 class=lexical__h3 dir=ltr><span>加完息一般多久才開始減息呢?</span></h3><p class=lexical__paragraph dir=ltr style=text-align: start;><span>從 1982 年聯儲局實施「調控聯邦利率」開始,有共 6 次減息週期。</span></p><div class=lexical__image center><div class=lexical__imageWrapper><img src=https://d2a6d2ofes041u.cloudfront.net/resize?norotation=true&url=https%3A%2F%2Fimages.vocus.cc%2Fed2cb674-b004-414c-bb6c-2851a481d86a.png&width=1110&sign=2JpL_-Tv5HYt6Q3GKbPI7Ls5WbbHVcLlU5ctxxdNL60 data-original-src=https://images.vocus.cc/ed2cb674-b004-414c-bb6c-2851a481d86a.png data-width=488 data-height=225 alt=image></div><div class=captionTheme__wrapper><p class=captionTheme__paragraph></p></div></div><p class=lexical__paragraph dir=ltr><span>如果相信九月及短期未來不再加息,樂觀情況下可能明年的第一季就有機會開始進行減息。</span></p><p class=lexical__paragraph dir=ltr><span>減息整體而言會利好經濟,最直接的原因</span></p><ol class=lexical__ol><li value=1 class=lexical__listItem><span>反正存錢都沒利息,投入其他資產的相對誘因提升</span></li><li value=2 class=lexical__listItem><span>企業融資成本下降,有利擴充</span></li><li value=3 class=lexical__listItem><span>消費和就業增加</span></li></ol><p class=lexical__paragraph dir=ltr><span>這樣可促進良好循環。所以以前的大牛市很大程度都倚賴超低息,甚至零息環境。</span></p><p class=lexical__paragraph dir=ltr><span>不過也正因如此,減息會不斷推升資產價格,造成經濟過熱和通貨膨脹…也正是目</span></p>