重磅！央行官宣：下调10个基点！

Core Viewpoint - The People's Bank of China (PBOC) has authorized a decrease in the Loan Prime Rate (LPR), with the 1-year LPR dropping to 3% and the 5-year LPR to 3.5%, both down by 10 basis points from the previous month, which is expected to stimulate consumption and support economic growth [1][2][3]. Group 1: LPR Changes and Impacts - The 1-year LPR is now at 3.00%, while the 5-year LPR is at 3.50%, reflecting a decrease of 10 basis points for both rates [2]. - The reduction in LPR is anticipated to lower the interest burden on long-term loans for businesses and mortgage borrowers, thereby promoting consumption and expanding demand [2][3]. - For a mortgage of 1 million yuan over 30 years, the recent 10 basis point decrease in the 5-year LPR could reduce monthly payments by approximately 54.88 yuan and total interest by about 19,700 yuan [2]. Group 2: Monetary Policy Context - The recent LPR decrease aligns with a prior 0.1 percentage point reduction in the PBOC's policy interest rate, indicating a coherent monetary policy approach [3]. - The average interest rate for new corporate loans in April was approximately 3.2%, down about 50 basis points year-on-year, while the average for personal housing loans was around 3.1%, down about 55 basis points [3]. - The PBOC's adjustments to policy rates are designed to influence market interest rates, thereby facilitating lower financing costs for the real economy [3]. Group 3: Factors Supporting LPR Decline - Major state-owned banks have announced reductions in deposit rates, which are expected to align with the LPR adjustments, creating room for banks to lower LPR quotes [4]. - The recent decrease in deposit rates and the implementation of a new round of reserve requirement ratio cuts are expected to alleviate pressure on banks' net interest margins, enabling further LPR reductions [4]. Group 4: Benefits for Borrowers - The LPR decrease is a significant benefit for both new and existing mortgage borrowers, as it lowers the cost of borrowing [5]. - The PBOC has also reduced the interest rate for personal housing provident fund loans by 0.25 percentage points, which is expected to save residents over 20 billion yuan annually in interest payments [5]. - The consistent supportive stance of the PBOC towards monetary policy indicates a strong commitment to supporting the real economy, especially in light of recent positive signals from U.S.-China trade talks [5].