Prior to this, Chinese Premier Li Keqiang had warned in advance of the RRR cut, and did not rule out the use of interest rate cuts. However, the policy released on the 15th adopted a comprehensive RRR cut method and did not discuss interest rate cuts. After this cut, the weighted average deposit reserve ratio of financial institutions was 8.1%.
The industry pointed out that the intensity of the actual policy introduction was lower than the industry expected. A Mainland Finance and Economics official account commented that the current level of RRR cuts cannot have the expected effect on the stock market or the property market.
“It’s like the economy has been in the ICU. It’s been almost a week since Beijing experts consulted with a cardiotonic, and then on Friday, two boxes of half-lotus Qingwen were opened on the treatment plan. A shares have always been ahead of the news. The industry believes that lowering the reserve ratio will not Cutting interest rates is a positive realization, cutting the RRR without cutting interest rates is lower than expected, and only reducing the RRR by 0.25 is significantly lower than expected.”
The comment believes that it seems that this is the Fed’s interest rate hike expectations are playing a role, “the Sino-US interest rate gap has been inverted, and the Fed will soon raise interest rates by 50 basis points.”