RRR0.5 percentage point, 27 sunset! At the same time, the interest rate was cut by 0.2 percentage points, and the largest policy interest rate cut in the past four years was also at sunset on the 27th!
At 8 o’clock in the morning on the 27th, official website of the People’s Bank of China posted a message:Since September 27, 2024, the deposit reserve ratio of financial institutions has been lowered by 0.5 percentage points.After this reduction, the weighted average deposit reserve ratio of financial institutions is about 6.6%. At the same time, the central bank made it clear that it would stick to a supportive monetary policy stance, increase the intensity and accuracy of monetary policy regulation, and create a good monetary and financial environment for China’s stable economic growth and high-quality development.
The most direct impact of this RRR cut is:It will increase the long-term liquidity of the market by about 1 trillion yuan.. What do you mean? That is, the liquidity obtained by banks has increased by 1 trillion yuan. With this money, banks can lend to enterprises to better support their production; You can also lend to individuals to support everyone’s consumption.
At the same time as the RRR cut, the central bank announced that the operating interest rate of 7-day reverse repurchase in the open market will be adjusted from 1.70% to 1.50% from September 27.
At present, the 7-day reverse repurchase operating interest rate has assumed the function of the main policy interest rate. Then, if this interest rate is lowered by 0.2 percentage points, it will be reduced by 0.2 percentage points. The relevant interest rates will also be reduced one after another under its influence.
How will the central bank cut interest rates this time affect the market?
The CCTV reporter at the general station consulted relevant experts, and the adjustment of the loan interest rate of commercial banks followed the quoted interest rate of the loan market, that is, LPR. There is a high probability that the LPR will be lowered by 0.2 percentage points next month, and then the interest rates of commercial banks will be lowered simultaneously on the same day. That is to say, from October 20th, the one-year LPR will be lowered from 3.35% to 3.15%, and the LPR over five years will be lowered from 3.85% to 3.65%.The interest rates of various loans issued by banks to enterprises and individuals will also be lowered accordingly.
Of course, this does not mean that all loan interest rates will be lowered by 0.2 percentage points, because there are many factors that affect the loan interest rate, including the lender’s credit, which will affect the final interest rate.
(CCTV reporter Zhu Jihua, Wang Lei, Zhang Hao)
Copyright 2024 Central Radio and Television General Station. Please do not reprint it without permission.
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