在红热通货膨胀降低利率降低的希望之后

在英国红热通货膨胀降低了降低利率的希望降低后，斯特林兑美元汇率达到了三年。

British inflation rose more than expected in April, hitting a three-month high and striking a tone that could keep pressure on the Bank of England to keep interest rates elevated for longer.

英国通货膨胀率在四月份的增长超过预期，达到了三个月的高潮，并引起了一种基调，这可能会对英格兰银行的压力保持压力，以使利率升高更长的时间。

The Office for National Statistics said on Wednesday the consumer price index increased by 3.5 percent year-on-year, up from 2.6 percent in March and the highest reading since January. Economists polled by Reuters had expected an increase to 2.8 percent.

国家统计局周三表示，消费者价格指数同比增长3.5％，高于3月份的2.6％，是1月以来的最高读数。路透社对经济学家进行了调查，预计将增长到2.8％。

The hotter-than-anticipated inflation sparked a selloff in British government bonds, also known as gilts, and pushed up yields, a measure of borrowing costs, sharply.

超过期待的通货膨胀引发了英国政府债券（也称为Gilts）的抛售，并提高了收益率，这是一定程度的借贷成本。

The yield on ten-year gilts rose above 4.78 percent, having been around 4.44 percent at the end of last month. The yield on 30-year gilts touched a high of 4.58 percent, compared with 4.22 percent on Friday.

十年镀金的收益率上升到4.78％以上，到上个月年底的收益率约为4.44％。 30年镀金的收益率达到4.58％，而周五为4.22％。

As yields move in the opposite direction to prices, the selloff in gilts pushed up their price.

随着收益率朝着价格相反的方向移动，镀金的抛售推动了价格。

The increased borrowing costs will have implications for the government’s finances, with higher yields making debt servicing costs more expensive. It could also lead to higher mortgage rates and ultimately stoke fears of a return to a 1970s-style economic crisis, although economists believe such a scenario is unlikely in the short term.

借贷成本增加将对政府的财务产生影响，其收益率更高，使债务服务成本更加昂贵。这也可能导致更高的抵押贷款利率，并最终担心返回1970年代风格的经济危机，尽管经济学家认为这种情况在短期内不太可能。

The rise in yields and the selloff in gilts came after the British pound rose to a three-year high against the U.S. dollar on Wednesday as hotter-than-expected inflation kept the door open for higher-for-longer interest rates.

由于超过预期的通货膨胀率较高，因此英镑的收益率上升和镀金的抛售是在英镑升至三年的三年高点升至三年的高潮，这使得高于更高的利率的通货膨胀率更高。

Sterling hit a high of $1.3468 against the dollar, its strongest level since February 2022. It was last trading at $1.3440.

斯特林（Sterling）以自2022年2月以来的最强水平达到了1.3468美元的高价。最后一次交易的价格为1.3440美元。

“Sterling has risen amid expectations that the hotter inflation number will make policymakers more inclined to keep interest rates higher for longer,” said Susannah Streeter, head of money and markets at Hargreaves Lansdown.

Hargreaves Lansdown的货币和市场负责人Susannah Streeter表示：“由于期望通货膨胀率更高的人数将使政策制定者更加倾向于将利率更高的时间延长。”

According to bets in financial markets, there is now just a one-in-ten chance of a Bank of England interest rate cut from 4.25 percent next month with the next move not expected until the autumn.

根据金融市场的赌注，现在英格兰银行从下个月的4.25％降低了一家三分之一的机会，直到秋天，下一步才预计。

Earlier this week, the bank’s chief economist Huw Pill said he believed the pace of cuts was “too fast” given the threat posed by inflation.

本周早些时候，该银行的首席经济学家休·菲尔（Huw Pill）表示，鉴于通货膨胀构成的威胁，他认为削减的步伐“太快了”。

The prospect of lower rates tends to weaken a currency and push down yields on bond markets.

降低利率的前景往往会削弱货币，并在债券市场上推下收益率。

The rise in pound and gilt yields is a signal that investors think rates will not fall as far or as fast as previously thought.

英镑和镀金产量的上升表明投资者认为利率不会像以前想象的那样降低。

“We anticipate just one further interest rate cut this year,” said Monica George Michail, economist at the National Institute of Economic and Social Research.

美国国家经济与社会研究所经济学家莫妮卡·乔治·米歇尔（Monica George Michail）说：“我们预计今年只会降低一个利率。”

Rising borrowing costs make mortgages, corporate loans and national debt more expensive. Fears are mounting that Chancellor will have to raise taxes this autumn to make her Budget numbers add up.

借贷成本的上升使抵押贷款，公司贷款和国债更昂贵。担心总理在今年秋天将不得不提高税收，以使她的预算数字加起来。