Deposit reserve ratio and rediscount interest rate cut at the same time
Yesterday evening, the central bank announced a drastic cut benchmark interest rates and deposit reserve ratio, the intensity, scope, can be nearly 11 years the most. The last time a substantial cut (one-year deposit and lending rates to reduce the 1.80,1.44 percentage points), in October 1997 Asian financial crisis, the most time.
The central bank announced on its Web site, from November 27 this year, financial institutions, down one-year yuan loans to keep the benchmark interest rate 1.08 percentage points in all other grades of the deposit and loan period of interest rate adjusted accordingly. At the same time, the central bank reduced refinancing and rediscount rate, and so on. Which is equivalent to the rate cut interest rates three times this year (0.27 percentage points each) four times since the Asian financial crisis is the biggest one.
The central bank also announced that from December 5, reduced Industrial and Commercial Bank, Agricultural Bank of China, Bank of China, Construction Bank, Bank of Communications, the postal savings bank deposits and other large financial institutions RMB deposit reserve ratio by 1 percentage point, taking down small and medium-sized category Financial institutions, the RMB deposit reserve ratio by 2 percentage points.
For the larger, full-range of actions to cut interest rates, the central bank said that its intended for the implementation of appropriate monetary policy, the banking system to ensure an adequate supply of liquidity to promote the steady growth of monetary credit, the role of monetary policy in supporting economic growth The positive role.
Yesterday evening, the central bank announced a drastic cut benchmark interest rates and deposit reserve ratio, the intensity, scope, can be nearly 11 years the most. The last time a substantial cut (one-year deposit and lending rates to reduce the 1.80,1.44 percentage points), in October 1997 Asian financial crisis, the most time.
The central bank announced on its Web site, from November 27 this year, financial institutions, down one-year yuan loans to keep the benchmark interest rate 1.08 percentage points in all other grades of the deposit and loan period of interest rate adjusted accordingly. At the same time, the central bank reduced refinancing and rediscount rate, and so on. Which is equivalent to the rate cut interest rates three times this year (0.27 percentage points each) four times since the Asian financial crisis is the biggest one.
The central bank also announced that from December 5, reduced Industrial and Commercial Bank, Agricultural Bank of China, Bank of China, Construction Bank, Bank of Communications, the postal savings bank deposits and other large financial institutions RMB deposit reserve ratio by 1 percentage point, taking down small and medium-sized category Financial institutions, the RMB deposit reserve ratio by 2 percentage points.
For the larger, full-range of actions to cut interest rates, the central bank said that its intended for the implementation of appropriate monetary policy, the banking system to ensure an adequate supply of liquidity to promote the steady growth of monetary credit, the role of monetary policy in supporting economic growth The positive role.
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