投資者屏息等待中美日經濟數據

　　After a tumultuous week in markets, investors awaitminutes of the Federal Reserve’s last monetarypolicy meeting and economic data from the US and Japan. Investors will also have their eyes onChinese markets, which reopen on Monday after being closed for a week in observance of theLunar New Year holiday.

　　閱歷了上周的市場動蕩後，投資者正在期待美聯儲(Federal Reserve)比來一次泉幣政策集會的記要，和美國和日本的經濟數據。投資者還將存眷春節黃金周事後周一從新開盤的中國市場。

　　Having missed a rocky week in global markets, investors await the release of China’s latesttrade figures. Economists expect exports to decline 1.8 per cent in January from the previousyear, while imports are estimated to fall 3.6 per cent. The trade surplus is expected to narrowmodestly to $60.6bn.

　　在中國“躲過”環球市場上周的震動後，投資者正期待中國宣布最新商業數據。經濟學家們估計，1月份出口將湧現1.8%的同比降低，而入口估量將同比降低3.6%。估計商業順差將小幅收窄至606億美元。

　　With investors concerned about the trajectory of the US economy the minutes of the FederalOpen Market Committee’s January meeting come into focus on Wednesday.

　　在投資者擔心美國經濟軌跡的配景下，聯邦公然市場委員會(FOMC) 1月集會記要將在周三成為核心。

　　The monetary policy setting panel voted to keep interest rates unchanged last month as itsaid it was monitoring the volatility in financial markets and developments in overseaseconomies. The minutes will offer more details on that thought process.

　　這個泉幣政策制訂委員會在上月的會上投票決議保持利率穩定，它曾在會後表現，正在監測金融市場顛簸性和外洋經濟體的動態。集會記要將供給有關這一思惟進程的更多細節。

　　Economists at Bank of America expect the minutes to “reveal more concern among Fedofficials about the global backdrop and the tightening of financial conditions, but stop wellshort of suggesting the Fed will postpone rate hikes in March or later”.

　　美國銀行(Bank of America)經濟學家估計，集會記要將“揭露美聯儲官員對付環球配景和金融狀態收緊的更多關心，但遠遠不到表示美聯儲將推延在3月或以後加息的田地”。

　　Economists expect falling energy and food prices to have weighed on inflation last month.Consumer price inflation is expected to decline 0.1 per cent in January from the previousmonth, when it slid 0.1 per cent. Meanwhile core consumer prices, which strip out morevolatile items like food and energy are expected to rise 0.2 per cent from December and rise2.1 per cent from the year ago period.

　　經濟學家們估計，賡續降低的能源和食物價錢應當克制了美國上月的通脹。估計1月的花費價錢指數(CPI)將比以前一個月下跌0.1%(以前一個月的環比跌幅也是0.1%)。與此同時，剔除食物和能源等顛簸比擬大的項目以後的焦點CPI估計將環比上漲0.2%，同比上漲2.1%。

　　The Fed is closely watching for signs of price pressure as it determines whether to raise ratesat its meeting in March.

　　正在推敲是不是要在3月集會上加息的美聯儲，正親密存眷物價承壓的跡象。

　　Policymakers from 28 members of the European Union gather in Brussels for a two-daysummit on Thursday. The refugee crisis and Britain’s EU membership are expected to be on theagenda.

　　來自歐盟28個成員國的政策制訂者周四將會聚布魯塞爾，舉行動期兩天的峰會。災黎危急和英國的歐盟成員國身份題目估計將在議事日程上。

　　With the Bank of Japan unexpectedly adopting negative interest rates last month in an effortto stave off deflationary pressures investors now await the country’s latest growth figures.Economists expect GDP declined 0.2 per cent sequentially in the fourth quarter.

　　日本央行(Bank of Japan)為了對抗通縮壓力而在上月不測實施負利率以後，投資者正期待著該國的最新增加數據。經濟學家們估計，客歲第四時過活本海內臨盆總值(GDP)環比降低0.2%。