Announced before the market! Lower the reserve requirement ratio and interest rate! (Attached the market impact after previous adjustments)

Source: Securities Times

The State Council Information Office held a press conference on the morning of May 7, inviting Pan Gongsheng, President of the People's Bank of China, Li Yunze, Director of the State Administration for Financial Supervision and Administration, and Wu Qing, Chairman of the China Securities Regulatory Commission, to introduce the relevant situation of "a package of financial policies to support stabilizing markets and stabilizing expectations" and answer questions from reporters.

Pan Gongsheng: The People's Bank of China will lower the deposit reserve ratio by 0.5 percentage points and lower the policy interest rate by 0.1 percentage points.

On May 7, when attending a press conference of the State Information Office, Pan Gongsheng, Governor of the People's Bank of China, said that the People's Bank of China will lower the deposit reserve ratio by 0.5 percentage points and is expected to provide the market with medium- and long-term liquidity of 1 trillion yuan. The policy interest rate was lowered by 0.1 percentage point, from the current 1.5% to 1.4%, which is expected to drive the LPR down by about 0.1 percentage point.

Hu Huaxiong/Picture

Pan Gongsheng: Reduce the personal housing provident fund loan rate by 0.25 percentage points

On May 7, when attending a press conference of the State Information Office, Pan Gongsheng, Governor of the People's Bank of China, said that the personal housing provident fund loan rate was reduced by 0.25 percentage points, the interest rate for first-home homes of more than 5 years was reduced from 2.85% to 2.6%, and the interest rate targets for other terms were adjusted simultaneously.

Pan Gongsheng: Since the beginning of this year, monetary credit has shown characteristics of increasing quantity, declining price and optimizing structure

On May 7, when attending a press conference of the State Information Office, Pan Gongsheng, Governor of the People's Bank of China, said that since the beginning of this year, the People's Bank of China has implemented moderately loose policies, strengthened countercyclical adjustments, and comprehensively used a variety of monetary policies to serve the high-quality development of the real economy, so as to promote the continuous improvement of the economy and create a good monetary and financial environment. From the perspective of effect, since this year, monetary credit has shown characteristics of increasing quantity, declining price and optimizing structure.

Pan Gongsheng: The financial market has shown strong resilience since April

On May 7, when attending a press conference of the State Information Office, Pan Gongsheng, Governor of the People's Bank of China, said that since April, despite facing a relatively large impact, the domestic financial system has remained stable and the financial market has shown strong resilience. The Shanghai Composite Index rebounded rapidly after falling on April 7. Currently, the yield on the 10-year treasury bond is hovering around 1.65%. After the RMB exchange rate against the US dollar depreciates, it has now rebounded to 7.2.

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