According to the arrangement of the People's Bank of China, CCTV*** lowered the deposit reserve ratio of financial institutions by 05 percentage points, providing long-term liquidity to the market of about 1 trillion yuan. This is also the second time that the central bank has cut the reserve requirement ratio in half a year.
CCTV reporter Wang Lei: After today's downward adjustment, the weighted average reserve requirement ratio of financial institutions will be about 7%. It is worth noting that the previous RRR cuts were basically adjusted by 025 percentage points, and this time the reduction reached 05 percentage points, exceeding the consensus expectation of the market.
Many experts believe that before the Spring Festival in previous years, affected by factors such as centralized cash withdrawals by residents and enterprises, long holidays, etc., there will be a large gap in the liquidity of the banking system. The central bank's RRR reduction policy was laid out ahead of schedule, which can meet the liquidity demand during the Spring Festival and effectively promote the smooth operation of the financial market.
Dong Ximiao, chief researcher of China Merchants Union: At the beginning of the year, especially before the Spring Festival, banks were guided to increase credit supply with a relatively large RRR cut, which fully reflects the determination of the People's Bank of China to increase efforts to support the recovery of the real economy, which is conducive to boosting the confidence of various business entities.
Zeng Gang, Deputy Director of the National Finance and Development Laboratory: The first quarter is often the peak of credit delivery by banks, and the RRR cut at this time is conducive to banks providing more credit funds for the real economy. In addition, the RRR cut and the reduction of the relending rate for supporting agriculture, relending for small and medium-sized enterprises, and rediscounting interest rates that began to be implemented on January 25 are 0.0 eachThe combination of the 25 percentage point measures will help guide banks to lower loan interest rates and promote a steady and moderate reduction in social financing costs.
Supporting economic and social development A number of banks have increased the provision of credit.
Today's RRR cut has left banks with about 1 trillion yuan more long-term funds, and many banks have said they will use these funds to further increase support for the real economy.
The Agricultural Bank of China said that this year it will continue to increase loans in key areas such as food security, loans to farmers, industrial revitalization of agriculture, and rural construction.
Bank of China said it will increase mortgage loans, support the construction of a new model of real estate development, and help the stable and healthy development of the real estate market.
CCB said it will increase support for key areas such as advanced manufacturing, strategic emerging industries and private enterprises.
The Postal Savings Bank said that this year, it will increase credit for key areas and groups of rural revitalization to promote the increase in the scale of loans to private enterprises.
As a bank that mainly serves small and medium-sized enterprises and local residents, the person in charge of the Bank of Chongqing told reporters that the RRR was cut by 0After 5 percentage points, they will have an extra 2 billion yuan of loanable funds.
Experts believe that the RRR cut has released a policy signal to the market to increase macroeconomic policy regulation and control, reflecting the forward-looking nature of monetary policy, and also indicating that monetary policy will be more active and provide more help for economic growth.
CCTV reporter Wang Lei: Not only monetary policy, the Ministry of Finance also said not long ago that it will appropriately increase the scale of investment in the budget and give full play to the amplification effect of investment. Fiscal and monetary policies work together to form a synergy to stabilize demand and growth, and continue to improve macroeconomic fundamentals.
CCTV).