A new round of deposit "rate cuts" has begun: the six major banks have jointly lowered interest rates, and small and medium-sized banks will soon follow suit. Experts warn that we need to be cautious of the problem of attracting deposits.
The six major state-owned banks collectively announced a reduction in deposit interest rates. Compared with the previous two adjustments, the reduction this time has been slightly weakened, but the coverage is wider, and the current deposit interest rate is included in the scope of the reduction. Experts believe that the trend of deposit regularization has eased recently. After the new round of deposit interest rate reduction starts, other banks will follow suit and adjust; looking forward, there is still a possibility of further reduction in domestic deposit interest rates.
The six major banks collectively announced a reduction in deposit interest rates, the highest being a decrease of 20 basis points. Experts believe that stabilizing the cost of debt will have limited impact on ordinary depositors.
On July 25th, the six major state-owned banks, including Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, China Construction Bank, Bank of Communications, and Postal Savings Bank, collectively lowered the deposit interest rates of RMB, with a reduction range of 5 to 20 basis points. Experts believe that this adjustment is based on the previous decline of the 1-year LPR and the trend of market interest rates such as the national bond yield that the six major banks have autonomously decided to make. The interest rate adjustment is conducive to stabilizing the cost of liabilities, promoting investment and consumption, but it is expected to have limited impact on ordinary depositors.
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The three-year deposit rate in Beijing and Shanghai has been lowered. Is Bank of Communications the first of the major banks to do so? Truth: there has been no movement in the Guangdong-Hong Kong region, or it may be a regional adjustment.
After the July LPR quote reduction, the market expects the deposit interest rate to be lowered, but state-owned banks have not yet adjusted the deposit list interest rate.
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