{
  "url_hash": "3cd8eedd73a02b32",
  "source_id": "yicai",
  "title": "日本央行加息重回1%利率时代，将从明年4月起暂停缩减购债，市场继续关注日元",
  "text": "标题:日本央行加息重回1%利率时代，将从明年4月起暂停缩减购债，市场继续关注日元\n[sentiment=neutral importance=2 event_type=宏观政策 行业=宏观]\n摘要:日本央行加息至1%，并宣布从2027年4月起暂停缩减购债，市场关注日元走势。\n正文:在今日（6月16日）利率决议中，日本央行将政策利率从0.75%上调至1%，这创下日本自1995年以来，时隔三十一年来的最高利率水平，也是该行自1995年以来首次重返1%利率时代。\n日本央行以7票对1票作出利率决定，政策委员会审议委员浅田对利率决定持反对意见。这意味着日本央行正加速从过去十年的大规模货币宽松政策转向传统的通胀遏制角色，与欧洲央行等其他主要经济体近期收紧货币政策的步伐保持一致。\n日本央行称，日本经济已实现温和复苏，不过部分领域仍显现出疲软态势，将根据经济和物价情况持续加息。\n日本央行行长植田和男因肝囊肿感染正在医院接受为期两周的治疗，副行长内田真一代替主持会议并将于周二北京时间14：30举行新闻发布会。市场对此高度关注，因为投资者需要从内田的言论中解读未来加息的节奏和幅度。乐天证券经济研究所首席经济学家爱宕伸康评论称，尽管内田真一通常立场“鸽派”，但他可能在此次发布会上刻意表现得更为“鹰派”，以避免引发不受欢迎的日元进一步贬值。\n除了利率决策，此次会议还审议了目前持续到明年3月的缩减购债计划，并为2027财年及之后制定新的购债框架。会议前，市场就预计，鉴于中东冲突加剧了通胀风险，导致债券市场波动加剧，日本央行将考虑从2027年4月起暂停缩减购债规模，以稳定债市。\n日本央行今日宣布，截至2027年1月~3月，每季度缩减1万亿日元日本国债月度购买量的当前计划保持不变。随后，从2027年4月起暂停缩减购债，将日本国债每月购买规模维持在约2万亿日元。明年暂停缩减购债的决策以7票支持、1票反对获得通过，审议委员田村主张自2027年4月起，每季度缩减购债规模2000亿日元。这一潜在转向意味着，在加息的同时，日本央行可能并不希望过度收紧金融市场流动性，从而避免引发债券市场的剧烈震荡。\n日本央行并表示，将停止对缩减购债计划进行中期评估的做法。若长期利率快速上升，将灵活应对，例如增加日本国债购买量及实施固定利率购债操作。\n图源：日本央行官网\n年内或还有两次加息\n瑞穗总研高级经济学家Saisuke Sakai分析称，此次加息是自去年12月以来的首次调整，背后驱动力主要来自三个方面：能源冲击、日元贬值导致的进口成本上升，以及劳动力市场紧张带来的工资上涨压力。\n日本5月批发价格同比上涨6.3%，增速创下三年来最快纪录。\n分析师预计，这股物价压力可能在今年晚些时候将核心消费者通胀率推升至远高于2%的目标水平。\n同时，日元对美元汇率上周以来持续徘徊在160左右的低位，市场普遍认为日本央行缓慢的加息步伐也是导致日元疲软的重要原因之一。而日元贬值会进一步推高进口商品价格，形成通胀的恶性循环。\nSaisuke Sakai称，植田生病治疗不会影响日本央行后续机构性的决策重点。当前的核心矛盾是日益加剧的通胀风险，而非中东冲突对经济增长构成的威胁。日本央行多数决策委员此前就已警告物价压力正在升高。\n日本央行前首席经济学家龟田清作周一表示，即便美伊达成和平协议，大概率不会动摇日本央行年内两次加息的既定安排。若不是中东冲突影响，此次加息原本计划在4月落地。\n他认为，若和平协议能让霍尔木兹海峡顺利恢复通航，或会缓解日本央行的压力，使其不必被迫以超预期的激进加息节奏来抑制通胀。\n富达国际多元资产全球主管奎菲（Matthew Quaife）本周稍早曾对第一财经记者表示，中东冲突的影响在“亚洲市场最重要的分化，体现在中国、韩国、日本等较为成熟的东北亚经济体，与印度、泰国及菲律宾等南亚和东南亚经济体之间。相比之下，前者整体上更有能力抵御本轮冲突带来的外溢影响。”\n“日本经济复苏势头依然稳固，财政扩张政策以及内需回暖为其提供了支撑。尽管日本高度依赖能源进口，高油价可能对居民实际收入和企业利润率形成压力，并增加经济增长面临的下行风险，但市场预计政府将继续推出包括补充预算在内的财政支持措施。因此，我们预计，日本央行将继续以循序渐进的方式推进货币政策正常化，在稳定通胀预期的同时避免对经济增长造成过大冲击。”他称。\n巴克莱银行也预计日本央行本轮加息周期远未结束，今年10月和2027年4月还将分别加息25个基点，最终政策利率升至1.5%。野村稍早曾表示，本次会议的核心看点在于日本央行是否释放“加快加息节奏”的信号，包括是否有委员主张一次性加息50个基点，以及政策声明是否继续强调实际利率“显著偏低”。\n日元“保卫战”持续\n由于市场早已计价加息，决议公布后，美元对日元走势变化不大，最新报160.23。\n刚刚过去的一周中，美元对日元持续震荡于160关键心理关口，一度触及160.395的五周高位。日本央行账户数据还显示，在4月底，日本央行总计投入超5万亿规模的日元救市，但依旧提振效果有限。\n日元疲软通常会利好出口企业，但对进口依赖度高的日本经济而言，日元贬值会大幅推高能源、食品和原材料的进口成本。这些成本最终转嫁给消费者，导致通胀超出日本央行目标。当贬值开始威胁物价稳定时，日本央行就必须通过加息来支撑本币汇率，抑制输入型通胀。\n在巴克莱和野村证券看来，决定日元命运的并非此次会议是否加息本身，而是日本央行是否愿意释放更“鹰派”的加息信号。两家机构均认为，市场早已完全消化6月加息预期，若央行仅完成一次“毫无惊喜”的25个基点加息，日元未必会走强。只有让市场相信后续还会继续加息，才能真正扭转持续数年的贬值趋势。在巴克莱看来，核心观测指标包括，日本央行是否调整实际利率措辞、有无支持加息50个基点的投票、以及副行长内田稍后发布会基调。\n野村表示，历史经验也表明，仅靠一次25个基点的加息，很难从根本上扭转日元走势。当前影响美元对日元的核心变量仍是美日利差。在10年期美国国债收益率持续位于高位之际，即便日本利率上调至1%，与美国的利差依然悬殊。因此，若日本央行未能让市场确信未来将进一步加息，资金仍将倾向于流向美元资产。\n一旦美元对日元突破160关口并继续上行，日本政府再次入场干预汇市的概率也将显著上升。日本财务大臣近期已明确表示，当局“随时准备采取果断行动”。市场普遍预期，随着日本央行最新议息会议落幕，汇率干预风险将重新成为关注焦点。\n金融服务公司Monex Group的专家总监科尔（Jesper Koll）称，“在不改变国内货币政策的情况下进行干预，就像踩刹车，同时右脚牢牢踩在油门上。往好了说，你的乘客会有一点乐趣，往坏了说，就是你的刹车片要烧坏了。”\n日经225指数继续小幅上涨。奎菲称，相较于汽车制造商等国际投资者更为熟悉的大型企业，日本中小盘企业正开始跑赢大盘。由于其业务与本土经济联系更为紧密，因此受到地缘政治因素扰动的影响相对较小，也更有望受益于国内需求复苏。",
  "vector": [
    -0.015054723247885704,
    -0.04171353206038475,
    -0.0664893090724945,
    0.0017014227341860533,
    -0.022768476977944374,
    -0.028675664216279984,
    0.004138854332268238,
    0.05911010131239891,
    0.01714804768562317,
    0.020111199468374252,
    0.002640550723299384,
    -0.0024003919679671526,
    -0.026974240317940712,
    0.019260486587882042,
    -0.0050230203196406364,
    -0.060486532747745514,
    0.11913782358169556,
    0.03179175406694412,
    0.00880820769816637,
    -0.0033478836994618177,
    -0.02177438698709011,
    0.048289816826581955,
    -0.024986062198877335,
    0.03259466961026192,
    -0.016048813238739967,
    0.03913272172212601,
    -0.07715665549039841,
    0.01999649591743946,
    0.09313855320215225,
    0.05735132843255997,
    0.008660050109028816,
    0.06595402956008911,
    0.07046566158533096,
    -0.020015614107251167,
    -0.008306384086608887,
    0.015198102220892906,
    -0.0016799159348011017,
    -0.013573147356510162,
    -0.0511573851108551,
    0.019786208868026733,
    0.04152236133813858,
    0.031141771003603935,
    -0.0012228975538164377,
    0.024297846481204033,
    0.06300999224185944,
    -0.028809484094381332,
    -0.032097626477479935,
    -0.04798394441604614,
    0.010227653197944164,
    0.01955680176615715,
    -0.08105654269456863,
    -0.03414315730333328,
    0.08052126318216324,
    -0.05153972655534744,
    0.0500485934317112,
    0.04198117181658745,
    0.05043093487620354,
    0.004504468757659197,
    -0.060104191303253174,
    0.009080627001821995,
    0.0221567302942276,
    0.010112950578331947,
    0.025043413043022156,
    0.0350034274160862,
    -0.010361473076045513,
    0.06377467513084412,
    0.02825508825480938,
    0.03569164127111435,
    0.001325054676271975,
    -0.0146341472864151,
    -0.023915503174066544,
    -0.0013274442171677947,
    0.021047936752438545,
    0.020856766030192375,
    -0.02915359102189541,
    -0.00446623470634222,
    0.05111914873123169,
    0.025999268516898155,
    0.05157795920968056,
    -0.03230791538953781,
    0.06885983049869537,
    -0.0257125124335289,
    -0.03680043667554855,
    0.0029918276704847813,
    0.00980707723647356,
    0.031027067452669144,
    -0.011451148428022861,
    0.00522375013679266,
    -0.003981138113886118,
    -0.055324915796518326,
    -0.04400758445262909,
    -0.038520973175764084,
    0.0350034274160862,
    -0.009979130700230598,
    -0.02248172089457512,
    -0.0022761307191103697,
    -0.06874512135982513,
    0.03739306703209877,
    0.038138631731271744,
    0.04114001989364624,
    0.0382915697991848,
    0.021831737831234932,
    0.007818897254765034,
    -0.0110783651471138,
    0.020359721034765244,
    -0.0017659430159255862,
    0.027146294713020325,
    0.027834510430693626,
    0.001057415152899921,
    -0.035710759460926056,
    -0.023762566968798637,
    -0.0062560741789639,
    0.009075847454369068,
    -0.03861656039953232,
    -0.038138631731271744,
    -0.005997993052005768,
    0.0476016029715538,
    -0.0030921923462301493,
    0.009864428080618382,
    0.008865559473633766,
    0.005931083112955093,
    -0.02984180673956871,
    0.02456548437476158,
    -0.012808463536202908,
    0.008320721797645092,
    -0.037431299686431885,
    0.022367017343640327,
    0.07677431404590607,
    0.012168039567768574,
    0.049436844885349274,
    0.029994744807481766,
    0.0011984037701040506,
    -0.04546048492193222,
    -0.021219991147518158,
    -0.08312118798494339,
    -0.019786208868026733,
    0.055324915796518326,
    0.004241608548909426,
    0.003037230810150504,
    -0.04794570803642273,
    0.027758043259382248,
    -0.007780663203448057,
    0.010275445878505707,
    0.015255453065037727,
    0.02705070935189724,
    0.0006135397125035524,
    -0.002920138416811824,
    -0.038769498467445374,
    -0.014242246747016907,
    -0.021487630903720856,
    -0.018266398459672928,
    -0.019518569111824036,
    0.04152236133813858,
    0.009458189830183983,
    -0.04140765964984894,
    -0.020608244463801384,
    -0.011336445808410645,
    0.03416227549314499,
    -0.035978399217128754,
    0.030950600281357765,
    0.0004077320918440819,
    -0.02037883922457695,
    -0.035404887050390244,
    0.022500837221741676,
    0.009458189830183983,
    0.01228274218738079,
    0.0022928582038730383,
    0.0191457848995924,
    -0.016039254143834114,
    0.0008405554108321667,
    -0.016507623717188835,
    -0.05861305817961693,
    0.06025712937116623,
    -0.03249908611178398,
    0.004843797534704208,
    0.011145275086164474,
    0.04029886797070503,
    -0.006093578413128853,
    -0.026400728151202202,
    -0.011393796652555466,
    -0.018782559782266617,
    0.055324915796518326,
    0.03601663187146187,
    0.009759284555912018,
    0.005878510884940624,
    0.028235970064997673,
    -0.045995764434337616,
    -0.010170302353799343,
    0.004059995990246534,
    -0.01146070659160614,
    -0.047219257801771164,
    -0.04989565536379814,
    -0.002209221012890339,
    -0.020971469581127167,
    0.038826849311590195,
    -0.019767090678215027,
    0.035519588738679886,
    -0.022367017343640327,
    0.016861289739608765,
    -0.005720795132219791,
    -0.023647863417863846,
    -0.017167164012789726,
    -0.025808097794651985,
    -0.007632505614310503,
    0.0011464291019365191,
    -0.018715649843215942,
    -0.056471940129995346,
    -0.023380223661661148,
    0.042516451328992844,
    -0.03580634668469429,
    -0.006279970519244671,
    -0.010084275156259537,
    0.057045452296733856,
    0.022118495777249336,
    -0.0344681479036808,
    0.012234949506819248,
    0.008640933781862259,
    -0.01720539852976799,
    0.01788405515253544,
    0.006906055845320225,
    -0.07008332014083862,
    0.06171002984046936,
    -0.018142135813832283,
    -0.020417071878910065,
    0.03454461693763733,
    0.007589492481201887,
    0.039725352078676224,
    0.006953848525881767,
    0.041484128683805466,
    -0.02932564541697502,
    -0.0060171103104949,
    -0.00006433355156332254,
    -0.006949068978428841,
    0.015131192281842232,
    0.01482531800866127,
    0.04966624826192856,
    0.001608226797543466,
    -0.01974797435104847,
    -0.013257714919745922,
    -0.02343757636845112,
    -0.010715140029788017,
    -0.003823421895503998,
    -0.06113651394844055,
    -0.011508499272167683,
    -0.036360740661621094,
    -0.012301859445869923,
    -0.050316233187913895,
    -0.014595912769436836,
    0.05379554629325867,
    -0.007087668403983116,
    -0.020283252000808716,
    0.014959137886762619,
    -0.07459495961666107,
    0.04989565536379814,
    0.025827214121818542,
    -0.023514043539762497,
    0.03314906731247902,
    -0.008688726462423801,
    0.009157095104455948,
    -0.034200508147478104,
    0.012999634258449078,
    -0.025349287316203117,
    0.012559941038489342,
    0.051463257521390915,
    -0.02661101520061493,
    -0.015169425867497921,
    -0.03219321370124817,
    0.01429003942757845,
    0.001598668284714222,
    0.03490784019231796,
    -0.030587375164031982,
    0.015609120018780231,
    -0.010495292954146862,
    0.031600579619407654,
    0.0017360724741593003,
    0.08793870359659195,
    -0.024278728291392326,
    -0.031332943588495255,
    0.015637794509530067,
    -0.009142757393419743,
    0.007302735932171345,
    -0.028675664216279984,
    0.040795911103487015,
    -0.036666616797447205,
    -0.02521546743810177,
    -0.05849835276603699,
    -0.038062162697315216,
    -0.01256949920207262,
    0.004442338366061449,
    -0.0004895772435702384,
    0.018476685509085655,
    -0.032862309366464615,
    0.08564464747905731,
    -0.030778545886278152,
    -0.0009218031191267073,
    -0.03804304823279381,
    -0.004243998322635889,
    -0.16899524629116058,
    -0.013477561995387077,
    0.01838110014796257,
    -0.0010837011504918337,
    -0.0440458208322525,
    -0.014901787042617798,
    0.0328240767121315,
    0.009252680465579033,
    -0.05218970775604248,
    -0.004126905929297209,
    0.014423859305679798,
    -0.034506380558013916,
    0.024144908413290977,
    0.005510506685823202,
    -0.026821304112672806,
    0.00858836155384779,
    0.005276321899145842,
    0.0017360724741593003,
    -0.0030420098919421434,
    -0.02362874709069729,
    -0.017893614247441292,
    0.0046980297192931175,
    -0.03320641815662384,
    -0.05758073180913925,
    -0.01032323855906725,
    0.04335760325193405,
    -0.023016998544335365,
    0.04641634225845337,
    -0.06993038207292557,
    -0.01095410343259573,
    -0.0026620575226843357,
    0.013372417539358139,
    -0.027452168986201286,
    0.04481050372123718,
    0.025119882076978683,
    0.02978445589542389,
    -0.023380223661661148,
    0.0002792890300042927,
    0.007097226567566395,
    0.013420210219919682,
    0.03681955114006996,
    0.0530690960586071,
    -0.015207660384476185,
    -0.02718452922999859,
    -0.009047172032296658,
    0.03219321370124817,
    -0.018113460391759872,
    -0.03867391124367714,
    -0.017434803768992424,
    0.00875085685402155,
    0.012206274084746838,
    -0.001589109655469656,
    0.027528638020157814,
    -0.030338851734995842,
    -0.020990585908293724,
    -0.02240525186061859,
    0.00715935742482543,
    -0.0026047062128782272,
    -0.06343057006597519,
    -0.03897978737950325,
    0.033875517547130585,
    -0.07172739505767822,
    0.005978875793516636,
    0.011757021769881248,
    -0.016909083351492882,
    0.013477561995387077,
    0.039018020033836365,
    -0.04806041345000267,
    0.03169616684317589,
    0.009921779856085777,
    0.05849835276603699,
    0.00009902065357891843,
    -0.021869972348213196,
    -0.011250418610870838,
    0.005147281568497419,
    0.019900910556316376,
    0.0065906234085559845,
    0.0024195092264562845,
    0.013735642656683922,
    -0.0886269211769104,
    -0.016201749444007874,
    -0.03301524743437767,
    0.008593140169978142,
    0.020302370190620422,
    -0.01955680176615715,
    -0.02508164756000042,
    0.006141371093690395,
    0.04802217707037926,
    0.0047075883485376835,
    0.21028819680213928,
    -0.026553664356470108,
    0.051080916076898575,
    0.007541699334979057,
    0.0462251715362072,
    -0.04515461251139641,
    -0.015876758843660355,
    -0.02209937758743763,
    0.0009887129999697208,
    -0.018553154543042183,
    0.012904048897325993,
    -0.018008315935730934,
    0.004444727674126625,
    0.0020144653972238302,
    0.035213716328144073,
    0.01805610954761505,
    -0.0006720858509652317,
    -0.005443596746772528,
    0.06939511001110077,
    -0.02806391566991806,
    0.06855395436286926,
    0.023781683295965195,
    -0.03941947966814041,
    0.0008321916684508324,
    -0.05995125323534012,
    0.0022725462913513184,
    -0.012789346277713776,
    -0.004451896995306015,
    -0.02634337730705738,
    -0.028331555426120758,
    -0.04641634225845337,
    -0.004143633414059877,
    -0.015322363004088402,
    -0.028102150186896324,
    0.0034363004378974438,
    -0.032346148043870926,
    -0.023781683295965195,
    0.016345128417015076,
    0.01955680176615715,
    0.042707622051239014,
    0.0014684329507872462,
    -0.06025712937116623,
    0.0031686609145253897,
    0.019222253933548927,
    0.03987829014658928,
    0.012082013301551342,
    0.008621816523373127,
    -0.003030061721801758,
    -0.0202450193464756,
    0.004263115115463734,
    -0.003111309604719281,
    0.025636043399572372,
    0.005113826598972082,
    0.017434803768992424,
    -0.014586354605853558,
    -0.010676905512809753,
    -0.010705580934882164,
    0.004021761938929558,
    0.002645330037921667,
    -0.001752799958921969,
    0.029478581622242928,
    -0.022749360650777817,
    0.0008572828373871744,
    0.01447165198624134,
    -0.0007605024729855359,
    0.007460451684892178,
    0.015953227877616882,
    0.05245734751224518,
    -0.024775773286819458,
    -0.003806694410741329,
    -0.03182998672127724,
    0.018801676109433174,
    0.05402494966983795,
    -0.014767967164516449,
    0.006165267899632454,
    0.0007204760331660509,
    -0.00976406317204237,
    0.006652753800153732,
    0.020225901156663895,
    -0.023590512573719025,
    -0.03389463573694229,
    -0.009587230160832405,
    -0.03676220029592514,
    -0.022003792226314545,
    0.019126668572425842,
    -0.007642064243555069,
    -0.0407576784491539,
    0.023590512573719025,
    0.005123385228216648,
    -0.050698574632406235,
    0.03188733756542206,
    0.004189036320894957,
    -0.022997882217168808,
    -0.006614519748836756,
    0.005668222904205322,
    -0.03601663187146187,
    0.02292141318321228,
    -0.00201685493811965,
    -0.03607398644089699,
    0.04653104394674301,
    0.006982523947954178,
    0.009587230160832405,
    0.017214957624673843,
    0.004062385763972998,
    -0.04932214319705963,
    -0.002424288308247924,
    0.02095235139131546,
    -0.017788469791412354,
    -0.031275589019060135,
    -0.029421230778098106,
    -0.06109828129410744,
    -0.00620828103274107,
    -0.028235970064997673,
    0.012454796582460403,
    0.03783275932073593,
    0.04087238013744354,
    -0.04381641373038292,
    0.043013494461774826,
    0.004423221107572317,
    0.0448487363755703,
    -0.013668732717633247,
    -0.02152586542069912,
    -0.01143203116953373,
    0.014041516929864883,
    -0.020225901156663895,
    0.0385592095553875,
    -0.00443038996309042,
    -0.0025831994134932756,
    -0.013410652056336403,
    0.012359211221337318,
    0.014787083491683006,
    -0.016364244744181633,
    0.02737569995224476,
    -0.02901977114379406,
    0.008129551075398922,
    0.024049323052167892,
    -0.002169791841879487,
    0.018342865630984306,
    0.00994089711457491,
    0.04913096874952316,
    0.012636409141123295,
    -0.020914116874337196,
    0.0003665108233690262,
    -0.011470265686511993,
    0.011948193423449993,
    0.007149798795580864,
    0.020015614107251167,
    -0.009673257358372211,
    -0.04901626706123352,
    0.007140240166336298,
    0.016498064622282982,
    -0.0059119658544659615,
    0.007192812394350767,
    -0.015054723247885704,
    -0.005333673674613237,
    -0.020722946152091026,
    0.02139204554259777,
    -0.056663110852241516,
    0.014777525328099728,
    -0.009615905582904816,
    0.0034888724330812693,
    -0.016450272873044014,
    0.03072119504213333,
    0.026209557428956032,
    0.06840101629495621,
    0.10361473262310028,
    -0.03683866932988167,
    0.025941917672753334,
    0.010753373615443707,
    -0.031524114310741425,
    -0.005505727604031563,
    -0.003629861166700721,
    -0.01689952425658703,
    0.005443596746772528,
    0.0366474986076355,
    -0.03074031136929989,
    -0.06052476912736893,
    0.04851922392845154,
    0.025540458038449287,
    -0.02114352211356163,
    0.06354527175426483,
    -0.001762358471751213,
    -0.003995475824922323,
    -0.024909593164920807,
    -0.016937758773565292,
    0.03995475918054581,
    0.005735132843255997,
    -0.03777540847659111,
    0.021678801625967026,
    -0.06251294910907745,
    0.0172340739518404,
    0.06587755680084229,
    0.008511892519891262,
    -0.0025425755884498358,
    0.052342645823955536,
    -0.012798904441297054,
    0.006772235967218876,
    0.017081137746572495,
    -0.015981903299689293,
    -0.011546733789145947,
    -0.019671505317091942,
    -0.037373948842287064,
    0.030185915529727936,
    -0.018534038215875626,
    -0.004776887595653534,
    -0.0060887993313372135,
    0.04958978295326233,
    -0.028140384703874588,
    0.025005178526043892,
    0.02578897960484028,
    -0.041484128683805466,
    0.03035796992480755,
    0.028599195182323456,
    0.009419955313205719,
    0.053489670157432556,
    -0.0006024876493029296,
    -0.0006033837562426925,
    0.02896242029964924,
    -0.05681604892015457,
    0.014309155754745007,
    0.015131192281842232,
    -0.016115723177790642,
    0.07073330134153366,
    -0.08426821976900101,
    -0.024221377447247505,
    0.011145275086164474,
    0.00034530277480371296,
    -0.03701072186231613,
    0.01092542801052332,
    -0.015102515928447247,
    -0.0038664352614432573,
    0.036915138363838196,
    0.022462602704763412,
    -0.01583852432668209,
    -0.018744325265288353,
    0.02305523306131363,
    -0.01786493882536888,
    0.03980182111263275,
    0.006064902991056442,
    0.008559685200452805,
    -0.021621450781822205,
    -0.01222539134323597,
    -0.026305142790079117,
    -0.007288397755473852,
    0.004557040985673666,
    0.012301859445869923,
    0.010418824851512909,
    0.04026063159108162,
    0.056471940129995346,
    0.023590512573719025,
    0.022768476977944374,
    0.003202115884050727,
    0.05123385414481163,
    -0.0010884803486987948,
    -0.03968711942434311,
    0.04259292036294937,
    0.04221057519316673,
    0.06033359467983246,
    -0.04679868370294571,
    -0.048978034406900406,
    -0.008851221762597561,
    0.014624588191509247,
    0.00211602495983243,
    0.01695687510073185,
    -0.051960304379463196,
    -0.05903363227844238,
    -0.004181867465376854,
    0.0350225456058979,
    -0.046378105878829956,
    -0.020015614107251167,
    0.01624954305589199,
    -0.03320641815662384,
    -0.03028150089085102,
    -0.052992627024650574,
    0.01228274218738079,
    -0.007226267363876104,
    -0.01177613902837038,
    0.02590368315577507,
    -0.011604085564613342,
    -0.010705580934882164,
    0.03249908611178398,
    0.023208171129226685,
    0.0019571140874177217,
    -0.0000611971554462798,
    0.004036099649965763,
    0.027796275913715363,
    0.01622086763381958,
    -0.014863552525639534,
    0.010380590334534645,
    0.0069777448661625385,
    0.005677781533449888,
    -0.025999268516898155,
    0.009525099769234657,
    0.031007951125502586,
    0.0028532284777611494,
    0.003500820603221655,
    0.006342100910842419,
    -0.04351054131984711,
    -0.013439327478408813,
    0.024737538769841194,
    -0.0012927944771945477,
    0.03161969780921936,
    -0.08197416365146637,
    -0.016268659383058548,
    0.010543085634708405,
    -0.007226267363876104,
    -0.003156712744385004,
    0.006002772133797407,
    0.010944545269012451,
    0.02768157422542572,
    0.020875882357358932,
    -0.06924217194318771,
    0.07340969890356064,
    -0.021181756630539894,
    0.019824441522359848,
    -0.003113699145615101,
    0.02026413567364216,
    -0.026630133390426636,
    -0.00999824795871973,
    0.02989915944635868,
    0.012473913840949535,
    -0.032154977321624756,
    -0.02412579208612442,
    -0.010189419612288475,
    0.01807522587478161,
    -0.00877953227609396,
    0.01583852432668209,
    0.02127734199166298,
    -0.016564974561333656,
    0.0008620621520094573,
    -0.005166398826986551,
    0.008196461014449596,
    -0.011680553667247295,
    -0.022519955411553383,
    0.0003629263665061444,
    0.02437431365251541,
    0.004638288635760546,
    -0.0066957673989236355,
    0.0064854794181883335,
    -0.039840053766965866,
    -0.009826194494962692,
    -0.025349287316203117,
    -0.033932868391275406,
    -0.02018766663968563,
    0.0033622216433286667,
    -0.004368259571492672,
    0.0407576784491539,
    -0.023533161729574203,
    -0.03293877840042114,
    -0.0069968621246516705,
    0.010523968376219273,
    0.020684711635112762,
    -0.012263625860214233,
    -0.0221567302942276,
    0.034124039113521576,
    0.03093148209154606,
    -0.02863742969930172,
    0.0005469285533763468,
    -0.018113460391759872,
    0.0007521387888118625,
    -0.014844435267150402,
    -0.011049688793718815,
    -0.00209571304731071,
    -0.019327396526932716,
    0.0018591388361528516,
    0.02932564541697502,
    0.029096240177750587,
    -0.046072233468294144,
    -0.011680553667247295,
    0.029822690412402153,
    -0.007560816593468189,
    0.01775023527443409,
    -0.025941917672753334,
    -0.012445238418877125,
    -0.02114352211356163,
    0.028408024460077286,
    0.027605105191469193,
    -0.02062736079096794,
    0.030185915529727936,
    -0.010820283554494381,
    0.025808097794651985,
    -0.0604483000934124,
    -0.04312819987535477,
    -0.01610616408288479,
    0.02552133984863758,
    0.03897978737950325,
    0.057121921330690384,
    -0.023781683295965195,
    0.0020933235064148903,
    -0.0273565836250782,
    -0.0052954391576349735,
    -0.03846362233161926,
    -0.03683866932988167,
    0.031906455755233765,
    -0.11714964359998703,
    -0.003228401765227318,
    -0.01720539852976799,
    -0.04278409108519554,
    -0.02431696280837059,
    0.0024900033604353666,
    -0.030568256974220276,
    0.009658919647336006,
    -0.016020137816667557,
    -0.010523968376219273,
    -0.018744325265288353,
    0.007928821258246899,
    0.009219225496053696,
    0.020417071878910065,
    -0.014376065693795681,
    -0.0036680952180176973,
    -0.0033192080445587635,
    -0.007183253765106201,
    -0.024871358647942543,
    0.027528638020157814,
    0.011814373545348644,
    -0.05043093487620354,
    0.0032451292499899864,
    0.021984675899147987,
    0.022653775289654732,
    -0.03511812910437584,
    0.0015616288874298334,
    -0.001515030860900879,
    -0.01758773997426033,
    -0.03492695838212967,
    0.03341670706868172,
    -0.0005750068230554461,
    0.018209045752882957,
    0.04412228614091873,
    -0.00715935742482543,
    -0.015265011228621006,
    -0.01761641539633274,
    0.025941917672753334,
    0.01810390315949917,
    0.006944289896637201,
    -0.010533527471125126,
    -0.0072692809626460075,
    -0.031772635877132416,
    -0.03433432802557945,
    -0.005089930258691311,
    0.0495133139193058,
    0.008296824991703033,
    -0.005553520284593105,
    -0.05257204920053482,
    0.011279094032943249,
    -0.050201527774333954,
    0.0588042289018631,
    0.012359211221337318,
    -0.04901626706123352,
    -0.0015914993127807975,
    -0.012961399741470814,
    0.03328288719058037,
    -0.032977014780044556,
    0.05582195892930031,
    0.0007575154304504395,
    0.03154322877526283,
    0.017348777502775192,
    -0.06408055126667023,
    -0.041751764714717865,
    -0.03397110477089882,
    0.04534578323364258,
    -0.08350352942943573,
    0.02576986327767372,
    0.03930477797985077,
    0.027643339708447456,
    -0.055783726274967194,
    -0.020799415186047554,
    0.008105654269456863,
    0.004236829467117786,
    0.010629112832248211,
    -0.014328273013234138,
    0.0053145564161241055,
    -0.022692007943987846,
    -0.000471654930151999,
    -0.012024661526083946,
    -0.005109047517180443,
    -0.002382469829171896,
    -0.054139651358127594,
    -0.022959647700190544,
    0.02051265724003315,
    0.0426693893969059,
    -0.011843048967421055,
    -0.02223319746553898,
    0.03186821937561035,
    -0.008722181431949139,
    -0.07830367982387543,
    0.004666964057832956,
    -0.015484858304262161,
    -0.010495292954146862,
    0.008072199299931526,
    -0.003491261973977089,
    -0.03995475918054581,
    -0.01988179422914982,
    0.005520065315067768,
    -0.022003792226314545,
    -0.026591898873448372,
    -0.002478055190294981,
    0.024202261120080948,
    -0.010992337949573994,
    0.00025942514184862375,
    0.0063086459413170815,
    0.012779787182807922,
    -0.02578897960484028,
    0.022328782826662064,
    -0.006241736002266407,
    0.014710615389049053,
    0.044925205409526825,
    -0.0448487363755703,
    0.021067054942250252,
    -0.060983579605817795,
    0.01485399343073368,
    -0.015006930567324162,
    -0.007039875257760286,
    -0.011766580864787102,
    -0.01829507388174534,
    0.06775103509426117,
    0.0055869752541184425,
    0.010753373615443707,
    -0.02278759330511093,
    -0.0013919644989073277,
    0.017731118947267532,
    -0.017348777502775192,
    0.06469229608774185,
    -0.011326887644827366,
    0.002059868536889553,
    -0.008167784661054611,
    0.03890331834554672,
    -0.02934476174414158,
    0.01031368039548397,
    0.02634337730705738,
    -0.004633509553968906,
    -0.018744325265288353,
    0.004160360898822546,
    0.013372417539358139,
    -0.020053846761584282,
    0.02401108853518963,
    -0.016077488660812378,
    0.013056985102593899,
    -0.0011553902877494693,
    0.007579933851957321,
    0.01349667925387621,
    0.04446639493107796,
    -0.0566248781979084,
    -0.019575919955968857,
    0.011642319150269032,
    0.002834111452102661,
    0.03576811030507088,
    0.010409265756607056,
    -0.08679167926311493,
    -0.029956510290503502,
    -0.04045180231332779,
    -0.06285705417394638,
    -0.002402781741693616,
    -0.0048151216469705105,
    0.024240493774414062,
    0.037488650530576706,
    -0.035328418016433716,
    -0.031218240037560463,
    0.006504596211016178,
    -0.0009797518141567707,
    0.012015103362500668,
    0.013879021629691124,
    0.017874497920274734,
    -0.017138488590717316,
    0.021678801625967026,
    0.01851492002606392,
    0.0070828888565301895,
    -0.035901930183172226,
    0.012751111760735512,
    0.011881283484399319,
    -0.008851221762597561,
    0.0157333817332983,
    -0.04125472158193588,
    0.006399452220648527,
    0.026266908273100853,
    0.009678036905825138,
    -0.004956110380589962,
    -0.015188543125987053,
    -0.05157795920968056,
    0.009300473146140575,
    0.013974606990814209,
    0.023227287456393242,
    -0.06270411610603333,
    0.0005415518535301089,
    -0.03854009136557579,
    -0.03085501492023468,
    -0.051654428243637085,
    0.01892593875527382,
    -0.0016918641049414873,
    -0.011451148428022861,
    0.024278728291392326,
    -0.018017875030636787,
    0.04546048492193222,
    -0.021105287596583366,
    0.008335059508681297,
    -0.01602969691157341,
    -0.015446623787283897,
    0.02576986327767372,
    -0.02043619006872177,
    -0.007804560009390116,
    0.07184209674596786,
    0.0033335459884256124,
    0.016889965161681175,
    -0.06710105389356613,
    0.01870609074831009,
    -0.043472304940223694,
    0.00676267733797431,
    -0.023953737691044807,
    -0.01177613902837038,
    -0.02062736079096794,
    0.01832374930381775,
    0.04442816227674484,
    -0.017578182741999626,
    -0.013926814310252666,
    0.04970448464155197,
    0.0062035019509494305,
    0.0027074606623500586,
    0.0008955170633271337,
    0.003962020855396986,
    0.04825158417224884,
    -0.017625974491238594,
    0.03745041787624359,
    -0.00028780210413970053,
    0.019241370260715485,
    0.05027799680829048,
    0.00047942125820554793,
    0.021927325055003166,
    -0.04159883037209511,
    -0.008769974112510681,
    0.017300983890891075,
    0.031199121847748756,
    -0.00973538774996996,
    -0.04274585470557213,
    0.013592264614999294,
    -0.00794793851673603,
    -0.017817145213484764,
    -0.04641634225845337,
    -0.024030206725001335,
    -0.006867821328341961
  ],
  "dim": 1024,
  "provider": "dashscope",
  "model": "text-embedding-v3",
  "embedded_at": "2026-06-17T06:51:59.988057",
  "char_count": 2889,
  "publish_time": "2026-06-16T00:00:00"
}