The National Development and Reform Commission, the Ministry of Finance, the People's Bank of China and the State Taxation Administration jointly held a press conference to introduce the relevant information on "playing a good combination of macro policies to promote high-quality economic development". Is there still room for interest rate and reserve requirement cuts? Zou Lan, Director of the Monetary Policy Department of the People's Bank of China, said that, on the one hand, reserve ratio reduction, Open market operation, medium-term lending facilities, and various structural monetary policy tools all have the total effect of putting liquidity into use. They need to be coordinated and flexibly used to jointly maintain a reasonable and sufficient liquidity of the banking system. A comprehensive assessment of the deposit reserve ratio policy aims to maintain a reasonable and sufficient liquidity of the banking system. On the other hand, it is necessary to scientifically and reasonably grasp the level of interest rates. Based on the economic and financial situation and the needs of macroeconomic regulation, timely and moderate countercyclical adjustment should be carried out, while also taking into account the balance between growth and risk, as well as internal and external factors, to prevent fund arbitrage and idle, improve policy efficiency, and enhance the stability of bank operations. Zou Lan stated that in recent years, there has been a significant decrease in corporate loan interest rates. In the future, we will continue to play a good role in the efficiency and guidance of the loan market quotation interest rate reform, and guide banks to adjust the interest rates of existing personal housing loans in an orderly manner in accordance with the law. At the same time, we must continue to play the important role of the market-oriented adjustment mechanism for deposit interest rates, maintain market competition order, support banks in reasonably controlling debt costs, and enhance the ability of finance to continue supporting the real economy. (Zhongxin Finance and Economics) (Liaoxin News Agency)
Edit:XiaoWanNing Responsible editor:YingLing
Source:China News Network
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