The People's Bank of China authorized the National Bank of China Interbank Borrowing Center on Thursday (July 20) to announce the latest first phase of the loan market quotation interest rate (LPR): 1 year LPR is 3.55%, and the LPR of 5 years or above is 4.2%, All the same as last month.
According to the China News Agency, for the reason why the LPR was not adjusted in the month, Wen Bin, chief economist of China Minsheng Bank, analyzed that on the one hand, the MLF of the LPR quotation anchor interest rate (interim borrowing convenience)Interest rates remained unchanged in July, and the foundation of LPR quotation had not changed.On the other hand, the LPR in June has been reduced, and the LPR quotation in July has no room for decline.In June, the LPR of 1 -year and 5 -year LPR lowered 10 basis points, breaking the state of "pressing the soldiers" for many consecutive months.
Wen Bin pointed out that with the lower LPR reduction of more than 5 years, the current purchase of the first and second sets of housing loans has reached a historical low.However, the mortgage early compensation activities are still strong, mainly due to multiple factors such as changes in residents' expectations, increased stocks and new loans, and changes in the direction of investment and asset allocation.To this end, in addition to the reduction of LPR, combining the main constraints of the current economic operation, we must trace the roots and make multi -strategies, and make every effort to stabilize the expectations and stabilize the growth.
Pang Yan, the chief economist and director of the research department of the Greater China, believes that in July, LPRs of 1 year and 5 years remain unchanged, and continued to pass on the currency policy to remain continuousThe signal of sexual and stability helps the basic stability of the balance between the internal and external balance and maintaining the balance of the RMB exchange rate at a reasonable balance.
Pang Yan believes that the current marginal improvement in China has improved, and the stable recovery trend has continued to appear. A number of targeted, combined and synergistic policies and measures are brewing.The urgency is reduced.Compared with the use of interest rate cuts, it is more likely to use the deposit reserve rate tools in a timely manner to stabilize the cost of bank liabilities, alleviate the pressure of bank capital costs, improve the credit investment capacity of financial institutions, and increase their efforts to support key areas and weak links.
