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聯儲局鷹派減息　美元不升反跌？ 買債是否重啟QE？｜香港減P週期結束　港元利率下跌空間有限？ #聯儲局 #美國議息 #美元 #港元 #最優惠利率 #hibor

Ken Cheung 外匯策略 • December 13, 2025
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Ken Cheung 外匯策略

@kencheungfx

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張建泰(Ken Cheung)在企業及投資銀行從事外匯及宏觀分析工作超過12年，曾任職首席亞洲外匯策略師，並定期接受本地及海外媒體訪問，包括Bloomberg、Retuers及CNBC，以及《信報》及《經濟日報》，發表精闢獨到的匯市觀點，在Bloomberg上的個人檔案搜索頁面紀錄多達116頁。 Ken畢業於香港中文大學經濟系，取得學士及研究碩士學位，並在2012年獲得特許金融分析師(CFA)專業資格。 如果你有興趣收聽更多專業的匯市分析，了解宏觀局勢的發展，避開投資市場的陷阱，誠意邀請你訂閱。 28/10/2025: 訂閱+1000 聯絡合作、專業諮詢：請電郵 [email protected] LinkedIn: https://www.linkedin.com/in/kencheungkt/ 免責聲明： 本頻道及所有影片中提供的資訊僅供一般參考，只供學習交流用途，並不構成任何投資建議或投資活動的邀約。建議觀眾在做出任何投資或財務決策之前，進行獨立研究並適當諮詢合格的專家意見，例如財務顧問或法律顧問。

Latest Posts

【金銀黑色星期五】　沃什衝擊殺到！｜新聯儲局主席沃什何許人？　聯儲局真的全面轉鷹？　美元貶值交易將要退場？　黃金崩盤後應該追入？ #黃金 #白銀 #聯儲局 #沃什 #特朗普 #金價
PT4M

【金銀黑色星期五】　沃什衝擊殺到！｜新聯儲局主席沃什何許人？　聯儲局真的全面轉鷹？　美元貶值交易將要退場？　黃金崩盤後應該追入？ #黃金 #白銀 #聯儲局 #沃什 #特朗普 #金價

Ken Cheung 外匯策略2 months ago

46476

美元破100大關或觸發AI泡沫爆破？獲利離場還是趁低吸納｜美元流動性枯竭？dotcom泡沫有何啟示？ #美元 #美股 #ai泡沫 #外匯
PT4M

美元破100大關或觸發AI泡沫爆破？獲利離場還是趁低吸納｜美元流動性枯竭？dotcom泡沫有何啟示？ #美元 #美股 #ai泡沫 #外匯

Ken Cheung 外匯策略4 months ago

324

Video Description

本週金融市場焦點全在聯儲局議息會議！聯儲局一如預期減息0.25厘，但最令市場意外的是宣布重啟買債計劃，瞬間引爆「是否量化寬鬆(QE)重臨？」的熱議。與此同時，香港各大銀行並未跟隨下調最優惠利率(P)，這是否意味著減息週期已經結束？ #聯儲局減息 #買債計劃 #量化寬鬆 #QE #香港利率 #最優惠利率 #港元拆息 ##聯匯制度 #hibor #外匯分析 #財經解說 #投資教學 #外匯 #聯儲局 #鮑威爾 #特朗普 #美元流動性 #美國利率 #fomc #Fed #usd #hkd 本片將為你深入剖析： 📌 第一部分：聯儲局會議三大重點 鷹派減息：為何減息後，委員立場分歧反而加劇？票數背後反映了什麼內部矛盾？ 重啟買債真相：這個計劃真的是「量化寬鬆」嗎？與真正的QE有何關鍵區別？鮑威爾如何解釋其目的？ 市場反應解讀：為何「鷹派減息」本應利好美元，美元卻反而急跌？關鍵就在買債計劃對流動性的影響！ 📌 第二部分：香港利率前景展望 銀行不減P的原因：歷史數據揭示，最優惠利率的「地板價」在哪裡？ 港元利率下跌的獨特機制：在聯繫匯率下，港元利率要進一步下跌，必須通過怎樣「迂迴」的路徑？關鍵看哪個指標？ 未來走勢分析：銀行體系結餘、資金流向、特朗普政策... 哪些因素將主宰未來港元拆息(HIBOR)的走向？樓市與經濟能否受惠？ =============== 00:00 引言：本週市場重頭戲 01:00 第一部分：聯儲局會議重點解讀（減息分歧、買債計劃） 07:21 第二部分：香港不跟減息的原因與港元利率前景 10:57 總結：必須注視港元利率異常波動的現象

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