The People's Bank of China announced the first time to reduce short -term policy interest rates for the first time in the past ten months. Market analysis believes that China ’s interest rate cuts have stabilized market expectations and provided motivation for economic growth. The mid -term policy interest rates that are about to announce two days later are also expected to follow up.
The People's Bank of China announced on Tuesday (June 13) that the 7 -day reverse repurchase operation was carried out in the seven -day reflection of 2 billion yuan (RMB and S $ 375 million) with interest rate bidding, and the bid interest rate fell 10 basis points to 1.90%.
This is the first time the People's Bank of China has lowered its short -term policy interest rate since August last year.
Analysis believes that the People's Bank of China has reduced the seven -day reverse repurchase interest rate at this time, because the central bank will announce the adjustment of the mid -term loan interest rate on June 15.
Xie Dongming, director of the Research Director of the Greater China Research of Overseas Chinese, told the Lianhe Morning Post that the current market attention point is mainly the adjustment of the interest rate (LPR) on the mid -June 15th borrowing facilities (MLF) and the loan market on June 20, so short -term short -termThe decline in policy interest rates was surprised.Xie Dongming believes that this can be regarded as a "extra reward".
After the central bank's interest rate reduction policy was announced, the CSI 300 300 index rose slightly by 0.1%before lunch break, and rose 0.53%at the time of close.
Xie Dongming analyzed that although the Chinese economy is recovering as a whole, the recovery momentum has slowed down in the past few months, and the financial market has also shown concerns about economic prospects.At this time, the People's Bank of China lowered its short -term policy interest rates. Through the market expectations of stabilizing interest rates, it was in line with the statement of the central bank's governor Yi Gang "strengthening the adverse cycle adjustment".
When Yi Gang went to Shanghai to investigate last week, he mentioned at the symposium that the central bank will continue to implement a stable monetary policy, strengthen the regulation of counter -cyclicals, and fully support the real economy.
Xie Dongming believes that the central bank's monetary policy conveys an attitude, but it may not be able to finally solve the problem, and the follow -up economic trends need to be observed.
He said: "China's entire monetary policy is loose, reducing interest rate injection liquidity, but if the economy does not improve, this is the so -called liquidity trap."
