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Zhongtai Securities: In the third quarter of 2024, the monetary policy orientation is positive, leaning towards smoothing the interest rate transmission mechanism and stabilizing interest rate differentials.
The central bank has explicitly stated that financial institutions should enhance their independent "rational" pricing capabilities in the next step to more reasonably respond to market demand and risks. In addition, the central bank pointed out that further regulatory interest rate cuts are subject to dual constraints of net interest margin and exchange rates, especially limitations from internal and external pressures.
Express News | Although the remaining scale of the 11 major bank wealth management companies rebounded at the end of October compared to the end of September.
The central parity rate of the Renminbi is reported as 7.1927, down 141 basis points.
On November 12th, the renminbi central parity rate was reported at 7.1927, down 141 basis points, with the previous trading day's central parity rate at 7.1786. Expert: Renminbi exchange rate in the fourth quarter is expected to show a range of fluctuations. Wang Youxin, a researcher at the Bank of China Research Institute, believes that the renminbi exchange rate in the fourth quarter is expected to show a range of fluctuations, which means that the renminbi exchange rate will not unilaterally rise or fall, but fluctuate within a certain range. After all, the recently announced package of incremental policies will be gradually implemented, the policy dividends will be released more quickly, the domestic economic fundamentals are expected to continue to improve, providing strong support for the renminbi exchange rate. However, the Fed cut interest rates.
Bank of China (03988.HK) launches the digital Renminbi visible hardware wallet in Shenzhen.
Under the guidance of the People's Bank of China, Bank of China (03988.HK) (601988.SH) today (12th) launched a digital RMB visual hardware wallet in Shenzhen. The product features "touchable, visible, scannable" functions, with a built-in ink screen displaying balance and payment code, enhancing payment convenience.
Express News | Bank of China launches digital RMB visual hardware wallet
Express News | Rare in A shares, the four major banks are eyeing a company.
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