People's Bank of China Adjusts Monetary Policy
The People's Bank of China announced a reduction in the reserve requirement ratio by 0.5 percentage points. This is expected to provide about 1,000 billion yuan in long-term liquidity to the market. The reserve ratio for automotive financial companies and financial leasing will also be reduced from 5% to 0% in phases.
Adjustment of Policy Interest Rates
The policy interest rate will decrease by 0.1 percentage points. Specifically, the 7-day reverse repo rate will drop from 1.5% to 1.4%, which is expected to lead to a decrease of about 0.1 percentage points in the market lending benchmark rate.
Monetary Policy Tools
The interest rates on structured monetary tools will decrease by 0.25 percentage points. Special tools and interest rates for refinancing loans supporting agriculture and small enterprises will drop from 1.75% to 1.5%. The interest rates for additional mortgage loans will decrease from 2.25% to 2%.
Adjustment of Housing Loan Interest Rates
The interest rates for personal housing fund loans will decrease by 0.25 percentage points. The interest rate for first home loans with a term of over 5 years will drop from 2.85% to 2.6%.
Increased Loan Limits for Technological Innovation
The refinancing limit for technological innovation will increase by 300 billion yuan, raising the total from 500 billion to 800 billion yuan. The bank will also deploy 500 billion yuan in financial support for consumer services and pensions.
Source: https://tintucbitcoin.com/ngan-hang-trung-uong-tq-giam-lai-suat-anh-huong-tien-dien-tu/
Thank you for reading this article!
Please Like, Comment, and Follow TinTucBitcoin to stay updated with the latest news on the cryptocurrency market and not miss any important information!
