Chart: The central bank decided to cut the benchmark interest rate for RMB deposits and loans of financial institutions. The People's Bank of China decided to cut the benchmark interest rate for RMB deposits and loans of financial institutions from June 8, 2012. The one-year deposit benchmark interest rate of financial institutions was lowered by 0.25 percentage points, and the one-year loan benchmark interest rate was lowered by 0.25 percentage points; the benchmark interest rates for deposits and loans of other grades and the personal housing provident fund deposit and loan interest rates were adjusted accordingly. From the same day: (1) Adjust the upper limit of the floating range of the deposit rate of financial institutions to 1.1 times the benchmark interest rate; (2) Adjust the lower limit of the floating range of the financial institution's loan interest rate to 0.8 times the benchmark interest rate. 　　 Many economists have pointed out that the central bank announced interest rate cuts for the first time after three and a half years. The purpose is to use monetary policy to adjust domestic demand and stabilize economic growth in the face of increased economic downward pressure. Yesterday evening, the People's Bank of China decided to cut the benchmark deposit and lending rates of financial institutions since June 8. The one-year deposit benchmark interest rate of financial institutions was lowered by 0.25 percentage points, and the one-year loan benchmark interest rate was lowered by 0.25 percentage points; the benchmark interest rates for deposits and loans of other grades and the personal housing provident fund deposit and loan interest rates were adjusted accordingly. In addition, the central bank also announced that since the same day, the upper limit of the floating range of deposit interest rates of financial institutions has been adjusted to 1.1 times the benchmark interest rate; the lower limit of the floating range of financial institutions' loan interest rates has been adjusted to 0.8 times the benchmark interest rate. Experts said that interest rate cuts are aimed at steady growth . On May 23, Premier Wen Jiabao of the State Council presided over the State Council executive meeting. The meeting pointed out that the current downward pressure on the economy is increasing, and it is necessary to put steady growth in a more important position. Pre-adjust the fine-tuning efforts, actively adopt policies and measures to expand demand, and create a favorable policy environment for maintaining stable and rapid economic development. According to earlier data from the National Bureau of Statistics, the gross domestic product in the first quarter of this year was 1,079.5 billion yuan, an increase of 8.1% year-on-year. The increase in five consecutive quarters has also hit a new low in the past three years. Since the second quarter, domestic macroeconomic data has been expected by all walks of life. The decision-making level of the decision-making level puts steady growth on a more important position, and the market's expectations for further RRR cuts and interest rate cuts are obviously warming up. Therefore, many economists said that they were expected to cut the interest rate decision of the central bank yesterday. Cao Yuanzheng, chief economist of BOC International Holdings Co., Ltd. said: "The main reasons for this interest rate cut are twofold. First, China's current economy is down, and steady growth pressure appears. Second, inflation is also on the downside. It is a favorable time to cut interest rates. Therefore, the interest rate cut is expected." Economists also pointed out that the central bank cut interest rates mainly based on macro fundamental considerations, aimed at adjusting domestic demand to stabilize economic growth. Zhu Jianfang said that the current domestic economic growth slowdown and the economic downturn is more obvious. At this time, the central bank cut interest rates mainly for macroeconomic measures, which is a positive factor for the market. In Zhu Jianfang's view, the forthcoming May macroeconomic data will further reflect the trend of economic slowdown. Global or entering the interest rate cut channel As early as April 17, the Bank of India announced that it will cut the bank's benchmark interest rate by 50 basis points, twice the market expectation; local time last Wednesday night (May 30), the Brazilian central bank announced the benchmark interest rate Down 50 basis points to 8.50%, this is the seventh time the bank has cut interest rates since the end of August last year; on June 3, the Australian central bank announced another rate cut of 25 basis points to 3.5%, close to the level at the end of 2009. This is the second consecutive month that the Reserve Bank of Australia cut interest rates. India, Brazil, Australia, and China, the world's four major emerging economies have joined the interest rate cuts, indicating that the world has begun to enter a new round of interest rate cuts. Previously, the market expects the European Central Bank may also cut interest rates. However, the European Central Bank’s regular monetary policy meeting on June 6 still decided to keep interest rates unchanged. European Central Bank President Mario Draghi said that the European Central Bank decided to keep interest rates unchanged, considering that the current nominal interest rate is already low and the real interest rate is already negative. However, Draghi also stressed: "The recent decline in the manufacturing purchasing managers' index has signaled that the economic recovery is unfavorable. The ECB will pay close attention to the development of the situation and is ready to take action." Due to a series of unsatisfactory economic data The Fed’s expectation of launching QE3 is also heating up. On the evening of the previous day, the Fed’s vice chairman delivered a speech, revealing the feasibility of launching QE3: “There are some obvious downside risks in the economic outlook, so we should take action to prevent negative impacts, so as to avoid the economy. The vicious circle of continued weakness has become difficult to clean up.†Ba Shusong, a researcher at the Finance Research Institute of the Development Research Center of the State Council, believes that from the international environment, as global inflationary pressures fall, the recent weak European economy has prompted major developed economies and emerging economies. Both have turned to monetary easing, and the rate cut by the People's Bank of China is consistent with this international trend. It also shows that steady growth has once again become the focus of current economic policies.Airsoft Scarf,Tactical Mesh Scarf,Tactical Scarf
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