The central bank announced： RRR cut! Cut interest rates!

The People’s Bank of China decided to take off and land by 0.5 percentage points from September 27th.

The People’s Bank of China announced on September 27th that it has decided to reduce the deposit reserve ratio of financial institutions by 0.5 percentage point from September 27th, 2024 (excluding financial institutions that have implemented the deposit reserve ratio of 5%). After this reduction, the weighted average deposit reserve ratio of financial institutions is about 6.6%.

The People’s Bank of China stated that it will adhere to a supportive monetary policy stance, increase the intensity and accuracy of monetary policy regulation, and create a good monetary and financial environment for China’s stable economic growth and high-quality development.

Cut the policy interest rate by 20 basis points and land!

The People’s Bank of China announced on September 27th that in order to strengthen the countercyclical adjustment of monetary policy and support the stable economic growth, the operating interest rate of the 7-day reverse repurchase in the open market will be adjusted from the previous 1.70% to 1.50%, which is 20 basis points lower than the previous one.

In addition, the announcement shows that the operating rates of 14-day reverse repurchase and temporary forward and reverse repurchase in the open market continue to be determined by adding and subtracting points on the operating rate of 7-day reverse repurchase in the open market, and the range of adding and subtracting points remains unchanged.

Original title: "The central bank announced: RRR cut! Cut interest rates! 》

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