In September LPR "Step in Original" expert: 5 -year quotation after November

Zhongxin Jingwei, September 20th. According to the central bank's website on the 20th, the LPR interest rates have remained unchanged in September.

Screenshot of the central bank website

The Central Bank announced that the People's Bank of China authorized the National Bank of China Interbank Borrowing Center announced that on September 20, 2022, the loan market quotation interest rate (LPR) was: one -year LPR was 3.65%and 4.3%of LPRs above 5 years. The above LPR is valid before the LPR is released next time.

Earlier, the central bank carried out 400 billion yuan MLF operations and 2 billion yuan open market reverse repurchase operations on the 15th. The winning bid interest rate was consistent with the early stage. In view of the 2 billion yuan inverse repurchase and 600 billion yuan MLF expired on the same day, this time, this time, this time, this time, this time, this time, this time, this time, this time After the operation, the central bank achieved a net recovery of 200 billion yuan.

Since the beginning of this year, the 1 -year LPR has been reduced twice, a total of 15 basis points, and LPR above 5 years has been reduced three times, a total of 35 basis points.

Recently, state -owned banks, some shares, and urban commercial banks have continued to reduce deposit interest rates. The market expects that more banks will join the team with a decline in deposit interest rates. According to the China Securities Journal, experts said that the low market interest rate operation and the steady deposit interest rate have been steadily decreasing, which will also "reduce the burden" for commercial banks and will also create conditions for the next stage of LPR.

CITIC Securities Chief Economist clearly stated that the deposit interest rate will be reduced to further reduce the cost of bank liabilities and it is expected to further guide the LPR reduction. In the adjustment of this deposit interest rate, the adjustment of the long -term deposit interest rate is greater, which is conducive to further compressing the additional space of LPR quotation and MLF for more than 5 years, thereby driving the recovery of medium- and long -term credit demand between enterprises and residents.

Wen Bin, chief economist of Minsheng Bank, said that compared with the 1-year LPR, the probability of the LPR quotation of more than 5 years from the five-year period is more likely to decrease again from November to December. (Zhongxin Jingwei APP)

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