存款利率步入“1时代”，未来还会降吗？

Core Viewpoint - Recent adjustments in deposit interest rates by various small and medium-sized banks in China are expected to continue following the People's Bank of China's (PBOC) recent rate cuts, indicating a trend towards lower borrowing costs and a shift in the banking sector's approach to managing liabilities and assets [1][7][8]. Group 1: Rate Adjustments - Multiple small and medium-sized banks, including rural commercial banks and private banks, have recently lowered their deposit rates, with some rates dropping into the "1.x" range [2][5]. - For example, the Liao Cheng Hu Nong Commercial Village Bank reduced its 2-year, 3-year, and 5-year deposit rates from 2.10%, 2.16%, and 2.16% to 1.89%, 1.98%, and 1.98% respectively [2][4]. - Hami City Commercial Bank also announced reductions in its deposit rates, with 1-year, 2-year, 3-year, and 5-year rates adjusted to 1.50%, 1.60%, 1.80%, and 1.85% respectively [6]. Group 2: Economic Context - The PBOC's recent decision to cut the reserve requirement ratio by 0.5 percentage points and lower the policy interest rate by 0.1 percentage points is seen as a move to provide liquidity and support economic growth [1][7]. - Analysts suggest that the overall market interest rates are on a downward trend, influenced by the current economic environment, which necessitates banks to adjust their deposit rates accordingly to optimize funding costs [7][8]. Group 3: Strategic Implications for Banks - Small and medium-sized banks face significant competitive pressure and profitability challenges, prompting them to lower deposit rates to manage their funding costs and improve profit margins [6][9]. - The adjustment in deposit rates is also viewed as a strategy to encourage customers to diversify their investments into other financial products, thereby optimizing the banks' asset-liability structures [6][9]. - The trend of lowering deposit rates is expected to influence the broader financial market, leading to a shift in how individuals allocate their funds, with some moving towards more stable investment products [9].