Central Bank: Continue to release the LPR reform efficiency to make the home entity feel the decline in financing costs

[Dahecai Cube News] On July 13, the National New Office held a press conference on the operation of the national economy in the first half of 2022. The Director of the People's Bank of China Zou Lan said in response to the reporter's question that the People's Bank of China will continue to deepen interest rates Market -oriented reform, continue to release the effectiveness of LPR reform, give full play to the role of market -oriented adjustment mechanism for deposit interest rates, give full play to the role of interest rate self -discipline mechanism, maintain a good competitive order of the market, promote continuing to reduce actual loan interest rates, allow market entities It really declines.

In April this year, the People's Bank of China guided the establishment of a market -oriented adjustment mechanism for deposit interest rates. The main purpose of this mechanism was to promote further marketization of deposit interest rates. Members of interest rate self -discipline mechanisms can independently determine the level of deposit interest rates in accordance with their own situation, referring to the bond market interest rate represented by the 10 -year Treasury bond yield and the loan market interest rate represented by the one -year LPR. Since the establishment of this mechanism, according to changes in market interest rates, various banks have actively adjusted the level of deposit interest rates. According to our preliminary statistics, in June of this year, the average interest rate of new deposits incurred in banks across the country was about 2.32%, which decreased by 0.12 percentage points compared with April before adjustment. The establishment of the market -oriented adjustment mechanism of deposit interest rates has significantly enhanced the market -oriented pricing capacity of deposit interest rates, which is conducive to maintaining a good competitive order in the deposit market, stabilizing the cost of bank liabilities, promoting reducing actual loan interest rates, and better supporting the development of the real economy.

At the same time, in accordance with the decision -making deployment of the Party Central Committee and the State Council, in recent years, the People's Bank of China has established and improved the formation of market -oriented interest rate formation and conduction mechanisms, forming a conduction mechanism for influencing LPR through market interest rates and central bank guidance, and then affecting loan interest rates and deposit interest rates. The conduction efficiency is significantly improved. In the next stage, the People's Bank of China will continue to deepen the market -oriented reform of interest rates, continuously release the effectiveness of LPR reform, give full play to the role of market -oriented adjustment mechanism for deposit interest rates, give full play to the role of interest rate self -discipline mechanism, maintain the good competition order of the market, promote the continued reduction of the actual loan interest rate, allow The majority of market entities in the market feel that the cost of comprehensive financing has fallen.

Responsible editor: Shi Jian | Audit: Li Zhen | Director: Wan Junwei

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