The People's Bank of China reduced the policy interest rate twice within three months. In August, the interest rate of the medium -term lending facilities (MLF) was reduced by 15 basis points. The seven -day reverse repurchase interest rate of the short -term policy interest rate also reduced 10 basis points.
The People's Bank of China issued a announcement on Tuesday (August 15) that in order to maintain the impact of factors such as the peak periodIn the same, about 38.23 billion yuan) The public market reverse repurchase operation, and 401 billion yuan in mid -term borrowing facilities (MLF) operations fully meet the needs of financial institutions.
Announcement stated that the one -year MLF bid interest rate was reduced from 2.65%to 2.5%, and the seven -day reverse repurchase interest rate was also reduced from 1.90%to 1.8%.This is after the interest rate cut in June, and the central bank has lowered its medium and short -term policy interest rates again.
Zhou Maohua, a macro researcher of the Financial Market Department of Everbright Bank, analyzed that in July, financial data showed that the demand for real economy financing was weak, and the increase in stable growth in domestic demand was the reason for the expected interest rate cut for this ultra -market.
Zhou Maohua said: "The interest rate cut can effectively reduce the cost of the real economy financing cost stimulation and investment;It helps to promote the recovery of real estate recovery. "
CITIC Securities Chief Economist clearly believes that the interest rate cuts indicate that the long -term interest rate has greater room for downward interest rates, and it is expected that LPR will also be equivalent to 15 basis points.At the same time, the MLF operating volume excessive hedging, increasing the 7 -day reverse repurchase operating volume, which helps increase the supply of liquidity, the impact of the tax period and the issuance of government bond issuance.
This month, 400 billion yuan MLF expired, and the central bank will continue to make 1 billion yuan in August, a shrinking scale compared to the previous month.
On the occasion of the central bank's interest rates, the exchange rate of the RMB to the US dollar also continues the weak trend.According to surging news reports, the offshore RMB's exchange rate against the US dollar fell below 7.28, 7.29 and 7.30, and then further fell below the 7.31 mark to continue the new low since November last year.The exchange rate of the RMB to the US dollar is also low, and it fell below the 7.28 mark at the opening.
