This interest rate index has been unchanged for seven consecutive months, and monetary easing is coming to an end

category:Finance
 This interest rate index has been unchanged for seven consecutive months, and monetary easing is coming to an end


In November, LPR quotation continued to stay in place and met market expectations. On Monday, the central bank kept the bid winning rate unchanged at 2.95% in the medium-term lending facility (MLF), which is the reference rate for LPR.

Recently, people from all walks of life began to discuss when special measures should be withdrawn during the epidemic.

On November 6, Liu Guoqiang, vice president of the peoples Bank of China, said at a regular policy briefing held by the Information Office of the State Council that, judging from the three major demands of the real economy, from the perspective of supply and finance, Chinas economy is relatively strong and has sufficient momentum. In the face of this situation, we should consider the next policy.

He pointed out that policies in special periods cannot be long-term. The consensus is that exit is sooner or later and necessary, but the timing and manner of exit need to be carefully evaluated, mainly based on the situation of economic recovery. We should not rush and weaken the effect of financial services on the real economy, nor can we have a policy cliff.

On November 13, Lou Jiwei, former Minister of finance, said at the Caixin summit that it is time for China to study the orderly exit of loose monetary policy. In addition, it is time to resolutely reduce leverage, especially in financial business.

Color, chief economist of Founder Securities, previously told the interface news that since the third quarter, the central bank has not continued to ease monetary policy, which is generally more stable, which is the first step of monetary policy normalization. It is expected that from the end of March next year, monetary policy may begin to tighten marginally, and the unconventional monetary policy measures introduced in response to the epidemic will gradually withdraw step by step. In the first half of the year, the deposit reserve ratio was reduced three times and the MLF interest rate was reduced twice. The one-year LPR was reduced by 30 basis points in three months, and the five-year LPR was reduced by 15 basis points. Since May, with the effect of epidemic prevention and control in China gradually showing, the trend of economic recovery is gradually clear, the policy of total amount easing is no longer increased, and direct policy tools such as credit loan support plan for small and micro enterprises, implementation of phased deferred repayment of principal and interest policy for small and micro enterprises, have begun to be reused. Source: editor in charge of interface news: Chen Hequn_ NB12679

In the first half of the year, the deposit reserve ratio was reduced three times and the MLF interest rate was reduced twice. The one-year LPR was reduced by 30 basis points in three months, and the five-year LPR was reduced by 15 basis points. Since May, with the effect of epidemic prevention and control in China gradually showing, the trend of economic recovery is gradually clear, the policy of total amount easing is no longer increased, and direct policy tools such as credit loan support plan for small and micro enterprises, implementation of phased deferred repayment of principal and interest policy for small and micro enterprises, have begun to be reused.