Pan Gongsheng, governor of the People's Bank of China, announced at a press conference of the State Council Information Office on the 24th that the deposit reserve ratio and policy interest rate would be reduced. In the near future, the reserve ratio will be reduced by 0.5 percentage points, releasing 1 trillion yuan of long-term liquidity, and it may be reduced by another 0.25-0.5 percentage points before the end of the year.
At the same time, the central bank's policy interest rate will be reduced, and the seven-day reverse repurchase operation interest rate will be reduced by 0.2 percentage points, guiding the loan market quotation rate (LPR) to decline synchronously. (Jinshi)