Express News | The Fed has lowered interest rates again, and banks have followed suit by reducing the US dollar deposit rates.
There is a greater possibility of the industry lowering interbank deposit interest rates, helping to reduce the cost of liabilities.
Following the lowering of the posted deposit interest rates and the loan market quote rate (LPR), as well as existing home loan interest rates, the market is now focusing on whether interbank deposit rates will also be lowered. According to Interface News, a person in charge of the financial market department of a small to medium-sized bank mentioned that there is a greater possibility of adjustments, which would directly help banks reduce their costs of borrowing. Earlier reports from domestic media stated that members of the interest rate pricing self-regulation mechanism are planning to issue proposals to standardize the pricing of interbank demand deposits with higher rates. Industry insiders believe that, although they have not yet received formal notifications or documents, it is logical and necessary to lower interbank deposit rates from a chain of reasoning perspective. The self-regulation proposal for interbank deposit business will help maintain.
Express News | Another bank has announced: the single transaction limit has been increased to 0.2 million yuan!
People's Daily article: A large number of incremental policies are "on the way" to achieve a 5% economic growth target enhancement.
The article by Jin Sheping published in the People's Daily stated that the mainland's confidence in achieving the target of around 5% economic growth is increasing. At the press conference for the 'Three Quarters Report,' the National Bureau of Statistics stated that looking at GDP growth rates by year, the first quarter was 5.3%, the second quarter was 4.7%, and the third quarter was 4.6%. When viewed monthly, the third quarter grew by 0.9%, maintaining positive growth for nine consecutive quarters. 'Stability' and 'progress' remain the main themes of the mainland's economy. The four major macro indicators of growth, employment, inflation, and international balance of payments show that the overall economic indicators are stable with steady progress, providing a good foundation for the mainland's macro economy to maintain resilience. The report quoted,
Express News | Many banks are increasing the limits of third-party payment platforms for quick payments, and the industry expects more banks to follow suit.
Express News | Chu Tianlong assists in the first launch of digital RMB visual hard wallet in Shenzhen.