LPR连续3个月“按兵不动”，还有多大调降空间？

Group 1 - The LPR has remained unchanged for three consecutive months, with the one-year rate at 3.0% and the five-year rate at 3.5% [1][2] - The stability in LPR pricing aligns with market expectations, as the central bank's 7-day reverse repurchase rate has also remained stable [1][2] - Experts suggest that the necessity for lowering LPR is not urgent, as both corporate and personal loan rates are currently low [2] Group 2 - The marginal effect of interest rate cuts is decreasing, indicating that lowering LPR may not be the key factor for stabilizing growth and promoting consumption [2] - Future efforts to reduce overall financing costs may focus on lowering non-interest costs such as collateral and intermediary service fees [2] - If the Federal Reserve lowers rates in September, it could create a more favorable external environment for adjustments in China's monetary policy [2] Group 3 - There is a potential for further easing of housing market policies, with expectations that regulators may guide the five-year LPR downwards to reduce mortgage rates significantly [2] - This move is seen as crucial for alleviating high mortgage rates, stimulating housing demand, and reversing market expectations [2]